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Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.
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Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.
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4/17/2025 3:39:21 PM
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5/14/2024 4:19:37 PM
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Board of Public Works
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Resolutions
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5/14/2024
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ar ca 299 :, , 244 <br />(c) The Lessor, after the continuance of the <br />event of default for thirty (30) days after written notice <br />�® given to the Lessee specifying the event of default, <br />with the prior written consent of the Trustee, may <br />. terminate the Lease Term, exclude the Lessee from <br />h possession of the Project and use its best efforts to <br />lease the Project to another, holding the <br />liable <br />h�'JJA for all rent and other payments due up to the effective <br />date of such leasing. <br />CIO(d) Subject to the exinutheneventof nany y ofthe <br />confidentiality agreement, <br />nds shall at the time be outstanding and unpaid, the <br />Mssor may, after the continuance of the event of <br />default forthirty(30) days after written notice given to <br />t)ie�I,essee specifying the event of default, have access <br />to an inspect, examine and make copies of the books <br />and records and any and all accountdata and income <br />s, <br />tax and other tax returns of the Lessee. <br />(a) The Lessor may, after the continuance of the <br />event of default for thirty (30) days after written notice <br />given to the Lessee specifying the event of default, <br />take whatever action at law or in equity may appear <br />necessary or desirable to collect the rent and any <br />other amounts payable by Lessee hereunder, then due and <br />thereafter to become due, or to enforce performance and <br />observance of any obligation, agreement or covenant of <br />the Lessee under this Lease. <br />Any amounts collected pursuant to 'action taken under <br />this Section shall be paid into the Bon{ Fund and applied in <br />accordance with the provisions. of the I�denture or, if the <br />provisionfor paymentthereof <br />Bonds have been fully paid (or . <br />has been made in accordance with 'the provisions of the <br />Indenture), to the Lessee. <br />'el No <br />Section 10.3. No Remedy Exclusively: Nodremedy herein <br />conferred upon or reserved to the Lessor. is intended to be <br />exclusive of any other available remedy:gr remedies, but <br />each and every such remedy shall be1vand shall be <br />an�underethis Lease or <br />in addition to every other remedy g' <br />now or hereafter existing at law or in equity or <br />rey accruing <br />No delay or omission to exercise any right or pow <br />upon any default shall impair any ;such Aghrpower <br />or <br />buta <br />shall be construed to be a waiver thereof, Y <br />right and power may be exercised from time to time and as <br />often as may be deemed expedient. <br />In order to entitle the Lessor to exercise any remedy <br />reserved to it in this Article, it shalli,hot be necessary to <br />give any notice, other than such notice as may be herein <br />it <br />X-3 <br />
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