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

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209 .,; 238 section 8.5. Granting of Easements. If .no event of default shall have happened and be continuing; the Lessee may at any time or times grant easements, licenses, rights - of -way (including the dedication of public highways) and other rights or privileges in the nature of easements with respect to any property included in the Indenture, free from the lien of the Indenture, or Lessee may release existing easements, licenses, rights -of -way or other rights or privi- leges with or without consideration, and the Lessor agrees that it shall execute and deliver and will cause and direct the Trustee to execute and deliver any instrument necessary ;or appropriate to confirm and grant or release any such 'easement, license, right-of-way or other right or privilege `wpon receipt of: (i) a copy of the instrument of grant or release, (ii) a written application signed by .an authorized off%�er of the Lessee requesting such instrument, and (iii) a certificate executed by the Authorized Lessee Representative statiFngl�(I that such grant or release is not detrimental to the probusiness of the Lessee, and per conduct of the (2) that such* ant or release will not impair the effective use or interfere with the operation of the Project and will not materially.weaken, diminish or impair the security intended to be given by or under the Indenture. Section 8.6. Release and Irdemn ification Covenants. The Lessee releases the Lessor from an covenants and agrees that the Lessor shall not be liable for; and to indemnify and hold the Lessor harmless against, any loss or damage to property or any injury to or death of any person occurring on or about or resulting from any defect in any part of the Project or the other improvements on the Leased Land; provided, that the indemnity provided in this sentence sha11 be effective only to the extent of any loss that may be sustained by the Lessor in excess of the Net Proceeds received from any insurance carried with respect to the loss sustained, and provided further, that the indemnity shall not be effective for damages that result from sole negligence.or intentional acts on the part of the Lessor. To this end,.the Lessee will provide for and insure, in the public liability policies required in subsection (c) of Section 6.3 hereof, not only its own liability in respect of the matters there mentioned but also the liability herein assumed. Whenever under the provisions of this Lease the approval of the Lessee is required, or the Lessor is required to take some action at the request of the Lessee, such approval or such request shall be made by the Authorizedl essee Representa- tive, unless otherwise specified in this Lease; and the Lessor or the Trustee shall be authorized to.aet on any such approval or request, and the Lessee shall have no complaint against the Lessor or the Trustee as a result of any such action taken. VIII-2 ction 8.7. Tax Bxlm t Status of Bonds. The Lessee Seor further covenants that it will not take an action which, fail to take any action which failure will causethe interest on the Bonds to become subject to federal income taxes pursuant to the provisions oOOfstheBonds l3are out:etandingrnal Revenue Code so long as any under the Indenture; provhalon ided, that the Lessee Aofthe have violated this covenant if the interest on any Bonds becomes taxable to a personwho ursuant is a stosthetprovisions of the project or a related personP of Section 103(c)(7) of the Internal Revenue Code. (—A of Artl.Cle VIII)