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Recording Requested by Stewart Title-Lease Agreement- City of Buena Park
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Countywide Vol. 1 Revenue Bonds (1996)
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Recording Requested by Stewart Title-Lease Agreement- City of Buena Park
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redemption of the Bonds pursuant to Section 4.01(a) of the Indenture and together with accrued <br /> interest to the prepayment date. Such prepayment price (except the interest portion thereof, <br /> which shall be deposited into the Interest Account) shall be deposited by the Trustee in the <br /> Redemption Fund to be applied to the redemption of Bonds allocable to the City pursuant to <br /> Section 4.01(a) of the Indenture. The City shall give the Trustee written notice of its intention to <br /> exercise its option not less than ninety (90) days in advance of the date of exercise and shall <br /> indicate to the Trustee the order of redemption of Bonds allocable to the City shall be <br /> redeemed, failure of such notification to authorize the Trustee to redeem Bonds in inverse order <br /> of maturity and by lot within a maturity.Notwithstanding any such prepayment,as long as any <br /> Bonds remain Outstanding or any Additional Payments remain unpaid, the City shall not be <br /> relieved of its obligations hereunder as to such Bonds. <br /> Notwithstanding the foregoing, the City shall not be permitted to prepay any Lease <br /> Payments if any amounts are owed to the Municipal Bond Insurer with respect to the Municipal <br /> Bond Insurance Policy. <br /> Section 4.5. Quiet Enjoyment. During the Term of this Lease Agreement, the Authority <br /> shall provide the City with quiet use and enjoyment of the Leased Premises, and the City shall, <br /> during such Term,peaceably and quietly have and hold and enjoy the Leased Premises without <br /> suit, trouble or hindrance from the Authority, except as expressly set forth in this Lease <br /> Agreement. The Authority will,at the request of the City and at the City's cost,join in any legal <br /> action in which the City asserts its right to such possession and enjoyment to the extent the <br /> Authority may lawfully do so. Notwithstanding the foregoing,the Authority shall have the right <br /> to inspect the Leased Premises as provided in Section 7.2. <br /> Section 4.6. Title. If the City pays all of the Lease Payments and Additional Payments <br /> during the Term of this Lease Agreement as the same become due and payable, or if the City <br /> posts a security deposit for payment of the Lease Payments pursuant to Section 4.3(g) or <br /> prepays the Lease Payments pursuant to Section 4.4, and if the City has paid in full all of the <br /> Additional Payments coming due and payable as of the date of such prepayment, and <br /> provided in any event that no Event of Default shall have occurred and be continuing, all right, <br /> title and interest of the Authority in and to the Leased Premises shall be transferred to and <br /> vested in the City. The Authority agrees to take any and all steps and execute and record any <br /> and all documents reasonably required by the City to consummate any such transfer of title. <br /> Section 4.7. Additional Payments. In addition to the Lease Payments, the City shall pay <br /> when due the following Additional Payments: <br /> (a) The City's Pro Rata Portion of any fees and expenses incurred by the Authority in <br /> connection with or by reason of its leasehold estate in the Leased Premises as and when the <br /> same become due and payable; <br /> (b) The City's Pro Rata Portion of any amounts due to the Trustee pursuant to Section <br /> 8.06 of the Indenture for all services rendered under the Indenture and for all reasonable <br /> expenses,charges,costs,liabilities,legal fees and other disbursements incurred in and about the <br /> performance of its powers and duties under the Indenture; <br /> (c) The City's Pro Rata Portion of any costs and expenses of the Municipal Bond <br /> Insurer; <br /> (d) The City's Pro Rata Portion of any reasonable fees and expenses of such <br /> accountants, consultants, attorneys and other experts as may be engaged by the Authority or <br /> the Trustee to prepare audits, financial statements, reports, opinions or provide such other <br /> services required under this Lease Agreement or the Indenture;and <br /> -10- <br />
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