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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A (2).
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THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A (2).
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Last modified
7/8/2014 4:58:45 PM
Creation date
7/8/2014 4:51:25 PM
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Contracts
Company Name
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
Contract #
A-2014-133-A
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
6/3/2014
Destruction Year
0
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(i) The City acknowledges that this Site and Facility Lease cannot be terminated by the <br />City for any reason, except according to Section 3. <br />(j) Notwithstanding any Site and Facility Lease provisions to the contrary, policies of <br />fire, casualty, and extended coverage insurance shall be carried and maintained by the City in <br />accordance with the terms of the Lease Agreement covering the building or buildings <br />constructed on the Site, with a loss payable clause to Assignees. <br />Section 8. Assignments and Subleases. Unless the City shall be in default under the <br />Lease Agreement, the Authority may not assign its rights under this Site and Facility Lease or <br />sublet the Property, except as provided in the Lease Agreement and the Assignment <br />Agreement, without the written consent of the City and the Assignees. The City consents to the <br />assignment of the Authority's interest in this Site and Facility Lease to the Assignees. If the City <br />is in default under the Lease Agreement, the Assignees (including their successors and assigns <br />under the Lease Agreement) may fully and freely assign and sublease the Property or any <br />portion thereof, subject to this Site and Facility Lease. <br />Section 9. Right of Entry. The City reserves the right for any of its duly authorized <br />representatives to enter upon the Property at any reasonable time to inspect the same or to <br />make any repairs, improvements or changes necessary for the preservation thereof. <br />Section 10. Termination. The Authority agrees, upon the termination of this Site and <br />Facility Lease, to quit and surrender the Property in the same good order and condition as the <br />same were in at the time of commencement of the term hereunder, reasonable wear and tear <br />excepted, and agrees that any permanent improvements and structures existing upon the Site at <br />the time of the termination of this Site and Facility Lease shall remain thereon and title thereto <br />shall vest in the City. <br />Section 11. Default. In the event the Authority shall be in default in the performance of <br />any obligation on its part to be performed under the terms of this Site and Facility Lease, which <br />default continues for thirty (30) days following notice and demand for correction thereof to the <br />Authority, the City may exercise any and all remedies granted by law, except that no merger of <br />this Site and Facility Lease and of the Lease Agreement shall be deemed to occur as a result <br />thereof and the City shall have no right to terminate this Site and Facility Lease as a remedy for <br />such default. Notwithstanding the foregoing, so long as the Lease Agreement remains in effect, <br />the City will continue to pay the Lease Payments to the Assignees. <br />In the event of the occurrence of an Event of Default under the Lease Agreement or a <br />breach or default of the certifications and representations, warranties and covenants of the City <br />contained in Section 7, the Authority and /or the Assignees may (i) exercise the remedies <br />provided in the Lease Agreement, (ii) use the Property for any lawful purpose, subject to any <br />applicable legal limitations or restrictions, and (iii) exercise all options provided herein. <br />Section 12. Quiet Enjoymen t. The Authority, at all times during the term of this Site and <br />Facility Lease, shall peaceably and quietly have, hold and enjoy all of the Property subject to the <br />provisions of the Lease Agreement. <br />Section 13. Waiver of Personal Liability. All liabilities under this Site and Facility Lease <br />on the part of the Authority are solely liabilities of the Authority and the City hereby releases <br />each and every Boardmember, director, officer, employee and agent of the Authority of and <br />from any personal or individual liability under this Site and Facility Lease. No Boardmember, <br />director, officer, employee or agent of the Authority shall at any time or under any <br />circumstances be individually or personally liable under th s Site and Facility Lease for <br />anything done or omitted to be done by the Authority hereunder. <br />-3- <br />
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