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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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7/8/2014 4:58:45 PM
Creation date
7/8/2014 4:51:25 PM
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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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Section 14. Taxes. All assessments of any kind or character and all taxes, including <br />possessory interest taxes, levied or assessed upon the Property or the Authority's interest in the <br />Property created by this Site and Facility Lease (including both land and improvements) will be <br />paid by the City in accordance with the Lease Agreement. <br />Section 15. Eminent Domain. In the event the whole or any part of the Property is taken <br />by eminent domain proceedings, the interest of the Authority shall be recognized and is hereby <br />determined to be the amount of the then unpaid principal component of the Lease Payments, <br />any then unpaid interest component of the Lease Payments and any premium due with respect <br />to the prepayment of lease Payments to the date such amounts are remitted to the Authority or <br />its assignee, and, subject to the provisions of the Lease Agreement, the balance of the award, if <br />anv, shah be paid to the City. The City hereby waives, to the extent permitted by law, any and <br />all rights that it has or may hereafter have to acquire the interest of the Authority in and to the <br />Property through the eminent domain powers of the City. However, the City hereby agrees, to <br />the extent permitted by law, that the compensation to be paid in any condemnation proceedings <br />brought by or on behalf of the City with respect to the Property shall be in an amount not less <br />than the total unpaid principal component of Lease Payments, the interest component of Lease <br />Payments accrued to the date of payment of all Lease Payments and any premium due with <br />respect to the prepayment of Lease Payments under the Lease Agreement. <br />Section 16. Use of the Proceeds. The City and the Authority hereby agree that the lease <br />to the Authority of the City's right and interest in the Property pursuant to Section 2 serves the <br />public purposes of the City. <br />Section 17. Attorneys' Fees. Costs and Expenses. In any civil action or proceeding arising <br />from or relating to this Site and Facility Lease or a party's performance under this Site and <br />Facility Lease, the prevailing party shall be awarded its reasonable attorneys' fees, costs and <br />expenses, including the reasonable attorneys' fees, costs and expenses incurred in collecting or <br />executing upon any judgment, order or award. <br />Section 18. Partial Invalidity. If any one or more of the terms, provisions, covenants or <br />conditions of this Site and Facility Lease shall, to any extent, be declared invalid, unenforceable, <br />void or voidable for any reason whatsoever by a court of competent jurisdiction, the finding, <br />order or decree of which becomes final, none of the remaining; terms, provisions, covenants and <br />conditions of this Site and Facility Lease shall be affected thereby, and each provision of this Site <br />and Facility Lease shall be valid and enforceable to the fullest extent permitted by law. <br />Section 19. Notices. All notices, statements, demands, consents, approvals, <br />authorizations, offers, designations, requests or other communications hereunder by either <br />party to the other shall be in writing and shall be sufficiently given and served upon the other <br />party if delivered personally or if mailed by United States registered mail, return receipt <br />requested, postage prepaid, at the addresses set forth in the Lease Agreement, or to such other <br />addresses as the respective parties may from time to time designate by notice in writing. <br />Section 20. Binding Effect. This Site and Facility Lease shall inure to the benefit of and <br />shall be binding upon the City and the Authority and their respective successors and assigns. <br />The Assignees are hereby made third party beneficiaries Hereunder with all rights of a third <br />party beneficiary. <br />Section 21. Ai.nendment. This Site and Facility Lease may not be amended except as <br />permitted under the Lease Agreement. <br />-4- <br />
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