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70-119
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Last modified
1/3/2012 12:35:43 PM
Creation date
6/26/2003 10:46:45 AM
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City Clerk
Doc Type
Resolution
Doc #
70-119
Date
12/21/1970
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26 <br /> <br />27 <br /> <br />28 <br /> <br />29 <br /> <br />5O <br /> <br />12-12-70 <br /> <br />Resolution and referred to therein as "Trustee" and any successor <br />appointed as therein provided· <br /> <br /> SECTION 2. LEASE OF PROJECT. <br /> <br /> The Authority hereby leases to the State the Site as <br />more fully described in Exhibit A, attached hereto and made a part <br />hereof, subject to conditions, reservations, exceptions, and <br />rights of way which are described in Exhibit A. The Authority <br />hereby leases to the State the State Building. <br /> <br /> SECTION 3. TERM. <br /> <br /> The term of this State Building Lease shall commence <br />when the Project is substantially completed and available for <br />occupancy and written notice thereof has been served on State, <br />but in no event later than four (4) years from the date of <br />execution hereof. In addition, Authority shall give State ninety <br />(90) days written notice prior to the anticipated substantial <br />completion; and said notices are hereby made conditional precedent <br />to the commencement of the term Of this Lease. <br /> <br /> Notwithstanding any other provisions of this State <br />Building Lease, in the event Authority is unable to cause the Bonds <br />to be sold on or before January l, 1973, State may, by notice in <br />writing to Authority, terminate this State Building Lease and <br />thereby be relieved of all obligations thereunder without any cost <br />to the State. <br /> <br /> This State Building Lease shall end on June 30, 2008, <br />but in no event later than thirty-five (35) years from the date of <br />the commencement of the term, or such earlier time when the Bonds <br />issued by the Authority pursuant to the Resolution have been <br />retired or provision for payment provided for pursuant thereto <br /> <br /> <br />
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