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AG 2011 07 18
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AG 2011 07 18
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Last modified
7/19/2011 2:20:33 PM
Creation date
11/27/2017 11:16:10 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/18/2011
Board
Board of Commissioners
Meeting Type
Regular
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NON - APPROPRIATION FORM <br />ADDENDUM TO LEASE TSM03348NE -QL <br />BETWEEN <br />DDI LEASING, INC. AS "LESSOR" <br />AND <br />CABARRUS, COUNTY OF AS "LESSEE" <br />LEASE DATED JUNE 20, 2011 <br />Non Appropriation, In the event Lessee is in default under the Lease because: <br />1. Funds are not appropriated for a fiscal period subsequent to the one in which the Lease was entered into <br />which are sufficient to satisfy all of Lessee's obligations under the Lease during said fiscal period; <br />2. Such non - appropriation did not result from any act or failure to act of Lessee; <br />3. Lessee has exhausted all funds legally available for all payment due under the Lease; and <br />4. There is no other legal procedure by which payment can be made to Lessor. <br />Then, provided that (a) Lessee has given Lessor written notice of the occurrence of paragraph 1 above <br />thirty (30) days prior to such occurrence; (b) Lessor has received a written opinion from Lessee's counsel <br />verifying the same within ten (10) days thereafter; and (c) the Lessee does not directly or indirectly <br />purchase, lease or in any way acquire any services or equipment supplied or provided for hereunder, <br />Lessor's sole remedies for such default shall be to terminate the Lease at the end of the fiscal period during <br />which is given; retain the advance rental payments, if any; take possession of the equipment; and /or sell, <br />dispose of, hold, use or lease the equipment as Lessor in its sole discretion may desire, without any duty to <br />account to Lessee. <br />Approved and agreed to as an Addendum to and part of the Lease, this day of , 2011. <br />LESSOR: DDI Leasing, Inc. LESSEE: Cabarrus, County Of <br />(Full Legal Name) <br />Signature <br />Title <br />Date <br />Signature <br />Title <br />Date <br />Attachment number 7 <br />F -6 Page 112 <br />
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