2004-047 Ordinance - Laserfiche WebLink

Home Browse Search

Trustees from any of their obligations under this Lease Agreement or waiving any default; provided that, the City shall not proceed to make such payment or to perform such act (A) sooner than the thirtieth day after written notice of the proposed payment or performance of the act is Diven by the City to the Tnistees unless the payment or performance is required to be made promptly in order to preserve or protect persons or property, or (B) so long as the Trustees commence any performance required hereunder not later than the thirtieth day after written notice of their default is given to them by the City, and the Trustees aze proceeding dilioently to cure the default. All amounts so paid by the City and all costs and expenses in connection with such performance by the City shall be reimbursed to the City by the Trustees on demand, and the Ciry shall have, in addition to any other right or remedy of the City, the same riDhts and remedies as in the case of failure of the Tnistees to observe any of their other covenants as provided in this Section. SECTION 19. QIJIET ENJOYMENT. The City covenants with the Trustees that, so long as the Trustees shall have performed and observed the covenants and agreements on their part to be performed and observed hereunder, the Trustees shall and may peaceably and quietly have, hold and enjoy the Leased Property during the term of this Lease Agreement without hindrance from the City or any person claiming throu,Ph the City and shall defend the Trustees' right to such peaceable and quiet enjoyment. SECTION 20. SLTRRENDER OF LEASED PROPERTY. At the expiration of the term of this Lease Agreement or of any renewal or continuation thereof, the Trustees will surrender and deliver up to the City the Leased Property, including all structures, buildings and other improvements thereon and any furniture, furnishings and equipment included therein that are the property of the City, in good repair and condition, subject only to ordinary weaz and tear. SECTION 21. TAX EXCLUSIONS. The Trustees represent that they have taken or caused to be taken, and covenant that they will take or cause to be taken, any and all actions reauired of them, alone or in conjunction with the City, for the interest on any obligations issued by the City to pay for acquisition, construction, furnishing or equipping of the Leased Property to be utilized as the North Olmsted Branch to be, and remain, excluded from gross income from the owners thereof for federal income tax purposes. The Trustees further represent that they have not taken or permitted to be taken on their behalf, and covenant that they will not take or permit to be taken on their behalf, any action or actions that would adversely affect such exclusion under the provisions of the Intemal Revenue Code of 1986, as amended. SECTION 22. NOTICES. Any notice permitted or required hereunder shall be in writing and shall be deemed to have been properly given by mailing such notice by registered or certified mail, postage prepaid, addressed to such party as follows: -9-