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MUNICIPAL LEASING ASSOCIATES. INC.
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MUNICIPAL LEASING ASSOCIATES. INC.
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Last modified
5/20/2025 4:53:30 PM
Creation date
9/18/2024 1:36:17 PM
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Contracts
Company Name
MUNICIPAL LEASING ASSOCIATES. INC.
Contract #
A-1996-078
Agency
Police
Council Approval Date
7/1/1996
Destruction Year
2005
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self -insure up to specified limits as evidenced by a certificate of <br />self insurance to be attached hereto in form and amount acceptable to <br />Corporation. Any self-insurance program in which Lessee is a <br />participant shall comply with the provisions under this Lease <br />respecting cancellation and modification and payment of losses to the <br />corporation as its respective interests may appear. Such self-insurance <br />shall be maintained on a basis which is actuarially sound as <br />established by Lessee's risk manager or an independent insurance <br />consultant which determination shall be made annually. Any deficiency <br />shall. be corrected within sixty (50) days of Lessee becoming aware of <br />such deficiency. <br />SECTION 20. Rental Interruption Insurance. Lessee shall <br />maintain or cause to be maintained at its expense and throughout the <br />term of this Lease, insurance covering the loss of use of the Property <br />or portions thereof for an amount not less than Rental Payments payable <br />by Lessee consecutively for a twelve (12) month period. This coverage <br />shall insure against abatement of Rental Payments payable by Lessee <br />that come due hereunder resulting from Lessee's loss of use of the <br />Property or any substantial portion thereof and caused by any and all <br />perils, either insured or uninsured. Such insurance may be maintained <br />in conjunction with or separate from any other similar insurance <br />maintained by Lessee. The insurance proceeds shall be payable to <br />Corporation in amounts proportionate to the loss of use of the Property <br />and shall supplement Lessee's applicable Rental Payments, if any, <br />during the restoration period in sufficient amount to make Corporation <br />whole during the period of abatement. <br />SECTION 21. Taxes. Lessee shall keep the Property free and <br />clear of all levies, liens, and encumbrances and shall promptly pay all <br />fees, assessments, charges, and taxes (municipal, state and federal) <br />which may now or hereafter be imposed upon the ownership, leasing, <br />renting, sale, possession, or use of the Property, excluding, however, <br />all taxes on or measured by Corporation's income. <br />SECTION 22. Indemnity. To the extent the law allows, Lessee <br />shall indemnify Corporation against and hold Corporation harmless from <br />any and all claims, actions, suits, proceedings, costs, expenses, <br />damages, and liabilities, including attorneys' fees, arising out of, <br />connected with or resulting from the selection, possession, use, <br />operation, or return of the Property excepting that Lessee shall not be <br />required to indemnify Corporation in the event that such liability or <br />damages are caused by the negligent or intentional misconduct of <br />Corporation, its agents or representatives. <br />SECTION 23. Events of Default. The term "Event of Default", as <br />used in this Lease, means the occurrence of any one or more of the <br />following events: (a) Lessee fails to make any Rental Payment (or any <br />other payment) within fifteen (15) days after the due date thereof or <br />Lessee fails to perform or observe any other covenant, condition or <br />agreement to be performed or observed by it hereunder and such failure <br />to either make the payment or perform the covenant, condition or <br />agreement is not cured within ten (10) days after written notice <br />thereof by Corporation; (b) the discovery by Corporation that any <br />7 <br />
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