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GORDON & WILLIAMS, INC. 1A - 2005
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GORDON & WILLIAMS, INC. 1A - 2005
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Last modified
1/3/2012 2:54:09 PM
Creation date
9/23/2005 2:52:52 PM
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Contracts
Company Name
Gordon & Williams Inc
Contract #
A-2005-162
Agency
Public Works
Council Approval Date
6/20/2005
Expiration Date
11/1/2006
Insurance Exp Date
6/27/2008
Destruction Year
2012
Notes
A-2002-144A; 1ST AMENDMENT; TERM SLIP 08/22/07
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<br />ARTICLE VIII <br /> <br />ASSIGNMENT, SUBLEASING AND AMENDMENT <br /> <br />Section 8.1. Assignment by the Authority. The Authority's rights under this Lease <br />Agreement, including the right to receive and enforce payment of the Lease Payments to be <br />made by the City under this Lease Agreement, have been assigned to the Assignee, pursuant to <br />the Assignment Agreement and the City hereby consents to such assignment. <br /> <br />Section 8.2. Assignment and Subleasing by the City. This Lease Agreement may not be <br />assigned by the City. The City may not sublease the Property or any portion thereof. <br /> <br />Section 8.3. Amendment of Lease Agreement. <br /> <br />(a) Substitution of Site or Improvements. The City shall have, and is hereby granted, the <br />option at any time and from time to time during the Term of the Lease Agreement to substitute <br />other land (a "Substitute Site") and/or a substitute facility or substitute Improvements (a <br />"Substitute Improvements") for the Site (the "Former Site"), or a portion thereof, and/ or the <br />Improvements (the "Former Improvements"), or a portion thereof, provided that the City shall <br />satisfy all of the following requirements (to the extent applicable) which are hereby declared to <br />be conditions precedent to such substitution: <br /> <br />(i) If a substitution of the Site, the City shall file with the Authority and the <br />Assignee an amended Exhibit A to the Site Lease which adds thereto a description of <br />such Substitute Site and deletes therefrom the description of the Former Site; <br /> <br />(ii) If a substitution of the Site, the City shall file with the Authority and the <br />Assignee an amended Exhibit B to this Lease Agreement which adds thereto a <br />description of such Substitute Site and deletes therefrom the description of the Former <br />Site; <br /> <br />(iii) If a substitution of the Improvements, the City shall file with the Authority <br />and the Assignee an amended Exhibit B to the Site Lease which adds thereto a <br />description of such Substitute Improvements and deletes therefrom the description of <br />the Former Improvements; <br /> <br />(iv) If a substitution of the Improvements, the City shall file with the Authority <br />and the Assignee an amended Exhibit C to this Lease Agreement which adds thereto a <br />description of such Substitute Improvements and deletes therefrom the description of <br />the Former Improvements; <br /> <br />(v) The City shall certify in writing to the Authority and the Assignee that such <br />Substitute Site and/ or Substitute Improvements serve the purposes of the City, <br />constitutes property that is unencumbered, subject to Permitted Encumbrances, it is a <br />legal parcel, has access to a physically open street and constitutes property which the <br />City is permitted to lease under the laws of the State; <br /> <br />-18- <br />
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