Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.

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a6u,h 299 ,,.220 will be available for payment of the costs of the Project, ♦ �will be sufficient to pay all the costs which will be incurred ® 0 in that connection. C��, The Lessee agrees that if after exhaustion of the `moneys in the Project Fund the Lessee should pay, or deposit moneys in the Project Fund for the payment of, any portion �of;,the said costs of the Project pursuant to the provisions of,fthis Section, it shall not be entitled to any reimburse- ment%therefor from the Lessor or from the Trustee or from the(hclders of any of the Bonds, nor shall it be entitled to any diciinnution of the rents payable under Section 5.3 hereof. Section 4.7. Authorized Lessee Representative. The Lessee shall appoint an Authorized Lessee Representative for the purpose of taking all actions and making all certificates required to -be taken and made by the Authorized Lessee Representative under the provisions of this Lease and an alternate Authorized Lessee Representative to take any such action or make any such certificate if the same is not taken or made by the Authorized Lessee Representative. In the event either of said persons, or any successor appointed pursuant to the provisions of this Section, should resign, become unavailable or unable to take any action or make any certificate provided for in this Lease, another Authorized Lessee Representative or alternate Authorized Lessee Representative shall thereupon be appointed by the Lessee. If the Lessee fails to make such designation within ten (10) days following the date when the then incumbent resigns or becomes unavailable or unable to take any of the said actions, the Lessor may upon written notice to the Lessee then appoint as a successor any architect or engineer licensed under the laws of Indiana who shall serve until an Authorized Lessee Representative is appointed by the Lessee. Section 4.8. Lessor and Lessee to Pursued e Remies Against Contractors and Subcontractors an Their Suret es. In the event of default of any contractor or subcontractor under any contract made by it in connection with the Project or in the event of breach of warranty with respect to any material, workmanship or performance guarantee, the Lessor and Lessee will promptly proceed (subject to the Lessee's advice to the contrary), either separately or in conjunction with others, to exhaust the remedies of the Lessor and Lessee against the contractor, subcontractor or supplier so in default and against each surety for the performance of such contract. The Lessor and Lessee agree to advise the other of the steps it intends to take in connection with any such -default. IV-7