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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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• • a„�. 2�H :2�4 <br />necessary or advisable in the written opinion of counsel for <br />perfection of and continuance of the perfection of the <br />respective security interests as aforesaid. The Lessor <br />agrees to file and record or cause to be filed and recorded <br />all such instruments required to be so filed and recorded <br />and shall continue or cause to be continued the liens of <br />such instruments for so long as the Bonds shall be outstanding <br />under the terms of the Indenture. <br />The Lessee shall pay the reasonable costs incurred by <br />Lessor in performing its obligations under this Section <br />% , ection 12.8. Net Lease. This Lease shall be deemed <br />and construed to be as Huse" and the Lessee shall pay <br />absoiiiiely net during the Lease Term the rent and all other <br />payments!required hereunder, free of any deductions, without <br />abateme;tadeduction or set-off other than those herein <br />expressly provided, <br />Section 12.9. Force Majeure. In case by reason of <br />force majeure either party hereto shall be rendered unable <br />wholly or in part to carry out its obligations under this <br />agreement other than the obligation of the Lessee to make <br />the rental payments required under the terms hereof, then <br />except as otherwise provided in this Lease if such party <br />shall give notice and full particulars of such force majeure <br />in writing to the other party within a reasonable Mrs after <br />the occurrence of the event or cause relied on, the obliga- <br />tions of the party giving such notice, so far as they are <br />affected by such force majeure, shall be suspended during <br />the continuance oft ee —in—a=ty then claimed, but for no <br />longer period, and such party shall endeavor to remove or <br />overcome such inability with all reasonable dispatch. <br />The term "force majeure", as employed herein, shall <br />mean the acts of God, strikes, lockouts or other industrial <br />disturbances, acts of the public enemy, orders'of any kind <br />of the Government of the United States or the State of <br />Indiana or any civil or military authority, insurrections, <br />riots, epidemics, landslides, lightning, earthquakes, fires, <br />hurricanes, storms, floods, washouts, droughts, arrests, <br />restraining of government and people, civil disturbances, <br />explosions, breakage or accidents to machineryi:transmission <br />pipes or canals, partial or entire failure of utilities or <br />any other cause not reasonably within the control of the <br />party claiming such inability. <br />It is understood and agreed that the'settlement of <br />strikes, lockouts and other industrial disturbances shall be <br />entirely within the discretion of the party hating the <br />
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