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

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10 aervicesv`e'ndered by it and extraordinary expenses incurred by it under the Indenture, as and when the same become due, provided that the Lessee may, without creating a default hereunder, withhold such payment to contest in good faith the extra- ordinarysexpenses and the hreasonableness ofrany ed such fees, charges and expenses. In the event the Lessee should fail to make any of the payments required in this Section, the item or installment so in default shall continue as an obligation of the Lessee until the amount in default shall have been fully paid, the Lessee agrees to pay the same with interest thereon at the rate of ten percent (10%) per annum until paid. However, the Lessee will not be required to make the rent payments required in this Section upon the payment of or provision having been made for the payment of the entire principal of, e premium, if any, and interest on the Bonds. Section 5.4. Place of Rental Payments. The rent provided for in Section 5.3 hereof shall be paid directly to the Trustee for the account of the Lessor and willbe be de osited in the Bond Fund. The additional pay ments tothe Trustee under Section 5.3 hereof shall be paid directly to the Trustee for its own use or for disbursement to the paying agents, as the case may be. Section 5. 5. Obli ations o£ Lessee Hereunder Unconditional. The obligations of the Lessee to make the payments required in Section 5.3 hereof and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, aoatement or otherwise; and until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Lessee (i) will not, subject to the provisions of Section 9.6 hereof, suspend or discontinue, or permit the suspension or discontinuance of, any payments provided for in Section 5.3 hereof, (ii) will perform and observe all of its other agreements contained in this Lease, and (iii) except as provided in Sections 11.1 and 11.2 will not ter- minate the Lease Term for any cause, including, without limiting the generality of the foregoing, failure to complete the Project, any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damaqe to the Project, commercial frustra- tion of purpose, any change in the tax or other laws or administrative rulings of or administrative actions by the h UniteStates of America or the State of Indiana or any d political subdivision of either, or any failure of the Lessor to perform and observe any agreement, whether express )13 , 225 v-3