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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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set forth the name of the Trustee under the trust agreement or agreements securing the outstanding <br />indebtedness of the Lessor. <br />If the Lessee exercises its option to purchase, it shall pay to the Trustee referred to <br />above the purchase price which is required to pay all indebtedness of Lessor, including all premiums <br />payable on the redemption thereof and accrued and unpaid interest. Such payment shall not be made <br />until the Trustee gives to Lessee a written statement that such amount will be sufficient to retire all <br />outstanding indebtedness of Lessor secured by the trust agreement or agreements between the <br />Trustee and the Lessor, including all premiums payable on the redemption thereof and accrued and <br />unpaid interest. <br />Nothing herein contained shall be construed to provide that Lessee shall be under any <br />obligation to purchase the demised premises, or under any obligation in respect to any creditors, <br />members or security holders of Lessor. <br />9. Option to Renew. Lessor hereby grants to Lessee the right and option to <br />renew this Lease for a further like, or lesser, term upon the same or like conditions as herein <br />contained, and Lessee shall exercise this option by written notice to Lessor given upon any rental <br />payment date prior to the expiration of this Lease. <br />10. Utili Service. The Lessee agrees to pay or cause to be paid all charges for <br />sewer, gas, water, electricity, lights, heat or power, telephone or other utility services used, rendered <br />or supplied upon or in connection with the leased premises throughout the term of this Lease, and <br />to indemnify Lessor and save it harmless against any liability or damages on such account. The <br />Lessee shall also, at its sole cost and expense, procure any and all necessary permits, licenses or <br />other authorizations required for the lawful and proper installation and maintenance upon the leased <br />::ODMA\PCDOCS\SBDOCSI\41920ll 'g' <br />
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