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Recording Requested by Stewart Title-Lease Agreement- City of Buena Park
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Recording Requested by Stewart Title-Lease Agreement- City of Buena Park
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ARTICLE VIII <br /> ASSIGNMENT, LEASING AND AMENDMENT <br /> Section 8.1. Assignment by the Authority. Certain rights of the Authority under this <br /> Lease Agreement,including the right to receive and enforce payment of the Lease Payments to <br /> be made by the City under this Lease Agreement, have been pledged and assigned to the <br /> Trustee for the benefit of the Owners of the Bonds pursuant to the Indenture, to which pledge <br /> and assignment the City hereby consents. The assignment of this Agreement to the Trustee is <br /> solely in its capacity as Trustee under the Indenture and the duties,powers and liabilities of the <br /> Trustee in acting hereunder shall be subject to the provisions of the Indenture,including,without <br /> limitation,the provisions of Article VIII thereof. <br /> Section 8.2. Assignment and Subleasing by the City. This Lease Agreement may not be <br /> assigned by the City. The City may sublease the Leased Premises or any portion thereof, but <br /> only with the written consent of the Municipal Bond Insurer and subject to, and delivery to the <br /> Authority of a certificate as to, all of the following conditions: <br /> (a) This Lease Agreement and the obligation of the City to make Lease Payments <br /> hereunder shall remain obligations of the City; <br /> (b) The City shall, within thirty (30) days after the delivery thereof, furnish or cause to <br /> be furnished to the Authority and the Trustee a true and complete copy of such sublease; <br /> (c) No such sublease by the City shall cause the Leased Premises to be used for a <br /> purpose other than as may be authorized under the provisions of the laws of the State; and <br /> (d) The City shall furnish the Authority and the Trustee with a written opinion of Bond <br /> Counsel,stating that such sublease is permitted by this Lease Agreement and the Indenture,and <br /> will not cause the interest on the Bonds to become included in gross income for federal income <br /> tax purposes. <br /> Section 8.3.Amendment of Lease. <br /> (a) Substitution of Site or Facility. The City shall have, and is hereby granted, the option <br /> at any time and from time to time during the Term of this Lease Agreement to substitute other <br /> land (a "Substitute Site") and/or a substitute facility or substitute facilities (a "Substitute <br /> Facility") for the Site (the "Former Site"), or a portion thereof, and/or the Facility (the "Former <br /> Facility"), or a portion thereof, provided that the City shall satisfy all of the following <br /> requirements which are hereby declared to be conditions precedent to such substitution: <br /> (i) The City shall file with the Authority and the Trustee an amended Exhibit A <br /> to the Site and Facility Lease which adds thereto a description of such Substitute Site <br /> and deletes therefrom the description of the Former Site; <br /> (ii) The City shall file with the Authority and the Trustee an amended Exhibit A <br /> to this Lease Agreement which adds thereto a description of such Substitute Site and <br /> deletes therefrom the description of the Former Site; <br /> (iii) The City shall file with the Authority and the Trustee an amended Exhibit B <br /> to the Site and Facility Lease which adds thereto a description of such Substitute <br /> Facility and deletes therefrom the description of the Former Facility; <br /> -18- <br />
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