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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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premises of wires, pipes, conduits, tubes and other equipment and appliances for use in supplying <br />any such service to and upon the leased premises. <br />11. Transfer to Lessee. In the event Lessee does not exercise its option to <br />purchase under Paragraph 8 or option to renew under Paragraph 9, and upon full discharge and <br />performance by the Lessee of its obligations under this Lease, the demised premises shall become <br />the absolute property of the Lessee, and Lessor shall execute the proper instruments conveying title <br />to the premises to Lessee. <br />12. Defaults. If the Lessee shall default in the payment of any rentals or other <br />sums payable to the Lessor hereunder, or in the observance of any other covenant, agreement or <br />condition hereof, which nonobservance shall continue for ninety (90) days after written notice to <br />correct the same, then, in any or either of such events, the Lessor may proceed to protect and enforce <br />its rights by suit or suits in equity or at law in any court of competent jurisdiction, whether for <br />specific performance of any covenant or agreement contained herein, or for the enforcement of any <br />other appropriate legal or equitable remedy, or the Lessor, at its option, without further notice, may <br />terminate the estate and interest of the Lessee hereunder, and it shall be lawful for the Lessor <br />forthwith to resume possession of the demised premises and the Lessee covenants to surrender the <br />same forthwith upon demand. <br />The exercise by the Lessor of the above right to terminate this Lease shall not release <br />the Lessee from the performance of any obligation hereof maturing prior to the Lessor's actual entry <br />into possession. No waiver by the Lessor of any right to terminate this Lease upon any default shall <br />operate to waive such right upon the same or other default subsequently occurring. <br />::ODMA\PCDOCS\SBDOCS 1\41920\t _9_ <br />
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