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Approving and Authorizing lease for renovation and equipping of the former O'Brien School
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Approving and Authorizing lease for renovation and equipping of the former O'Brien School
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Last modified
5/19/2009 3:44:00 PM
Creation date
4/28/2009 8:50:32 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/9/1999
Ord-Res Number
9023-99
Bill Number
58-99
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by the Building Corporation related to the Trust Indenture, including but not limited to fees of the <br />Trustee. Any and all such payments shall be made and satisfactory evidence of such payments in <br />the form of receipts shall be furnished to the Lessor by the Lessee, at least three (3) days before the <br />last day upon which the same must be paid to avoid delinquency. In case the Lessee shall in good <br />faith desire to contest the validity of any such tax or assessment, and shall so notify the Lessor, and <br />shall furnish bond with surety to the approval of the Lessor conditioned for the payment of the <br />charges so desired to be contested and all damages or loss resulting to the Lessor from the non- <br />payment thereof when due, the Lessee shall not be obligated to pay the same until such contests shall <br />have been determined. <br />4. Abatement of Rent. In the event the Project shall be partially or totally <br />destroyed, whether by fire or any other casualty, so as to render the same unfit, in whole or part, for <br />use and occupancy by the Lessee, it shall then be the obligation of the Lessor to restore and rebuild <br />the Project as promptly as may be done, unavoidable strikes and other causes beyond the control of <br />the Lessor excepted; provided, however, that the Lessor shall not be obligated to expend on such <br />restoration or rebuilding more than the amount of the proceeds received by the Lessor from the <br />insurance provided for in Pazagraph 6 hereof. <br />The rent payable hereunder for the Project shall be abated for the period during which <br />the Project or any part thereof is unfit for occupancy and such abatement shall be in proportion to <br />the percentage of floor azea of the Project which is unfit for occupancy. <br />5. Alteration and Repairs. The Lessee assumes all responsibility for repairs <br />and alterations to the Project. No alterations shall be made by Lessee without first obtaining the <br />written consent of Lessor. Subject to Pazagraph 11, at the end of the term, Lessee shall deliver the <br />:ODMA\PCDOCS\SBDOCSI\41920\1 -4- <br />
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