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04-08-13 Agenda & Packet
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04-08-13 Agenda & Packet
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4/4/2013 10:24:49 AM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
4/8/2013
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demised premises at a price equal to the amount required to enable Lessor to pay all <br />indebtedness, including accrued and unpaid interest to the first date on which bonds may be <br />redeemed and all premiums payable on the redemption thereof. In no event, however, shall such <br />purchase price exceed the capital actually invested in such property by Lessor represented by <br />outstanding securities or existing indebtedness plus the cost of transferring the property. The <br />phrase "capital actually invested" as used herein shall be construed to include, but not by way of <br />limitation, the following amounts expended by the Lessor: organization and incorporation <br />expenses, financing costs, carrying charges, legal fees, architects' fees, contractors' fees and <br />reasonable costs and expenses incidental thereto. <br />Upon request of the Lessee, the Lessor agrees to furnish an itemized statement <br />setting forth the amounts required to be paid by the Lessee- on the next rental payment date in <br />order to purchase the demised premises in accordance with the preceding paragraph. The <br />statement shall also set forth the name of the Trustee under the trust agreement or agreements <br />securing the outstanding indebtedness of the Lessor. <br />If the Lessee exercises its option to purchase, it shall pay to the Trustee referred to <br />above the purchase price which is required to pay all indebtedness of Lessor, including all <br />premiums payable on the redemption thereof and accrued and unpaid interest. Such payment <br />shall not be made until the Trustee gives to Lessee a written statement that such amount will be <br />sufficient to retire all outstanding indebtedness of Lessor secured by the trust agreement or <br />agreements between the Trustee and the Lessor, including all premiums payable on the <br />redemption thereof and accrued and unpaid interest. <br />-8- <br />DMS_US 51840010x2 <br />
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