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L' <br />ARTICLE VI <br />CONSIDERATION FOR LEASE <br />6.1 Use: Assumption of Obli atg_ ions. In partial consideration for its acquisition of <br />rights to use the Leased Property during the Lease Term and its option to Purchase the Leased <br />Property, the Board of Education hereby agrees to use the Leased Property for public school <br />purposes in fulfillment of its obligation, shared by the County, to provide for elementary and <br />secondary education in the County. In addition, in consideration of its rights under this Lease, the <br />Board of Education undertakes the obligations imposed on it hereunder, including those imposed <br />by Section 8.1. <br />6.2 Payments. In partial consideration for its acquisition of rights to use the Leased <br />Property during the Lease Term and its option to purchase the Leased Property, the Board of <br />Education hereby agrees to pay to the County annual rent in the amount of One Dollar ($1.00) <br />payable in advance on the Closing Date (receipt of which is hereby acknowledged) and on the <br />first day of each Lease Year thereafter. The County and the Board of Education acknowledge <br />their understanding that although the County's providing the Leased Property to the Board of <br />Education for use is of substantial value to the Board of Education, any payment by the Board of <br />Education of a market value rent would represent simply an accounting transaction, because the <br />Board of Education's finding is primarily provided through the County. <br />ARTICLE VII <br />CONSTRUCTION AND OTHER ACCOMPLISHMENT <br />OF SCHOOL FACILITY AND CERTAIN RELATED COVENANTS <br />Section. 7.1 Construction and Other Accomplishment of the Facilities. <br />The County has provided in the Agency Agreement for the construction and other <br />accomplishment of the Facilities by the Board of Education as the County's agent. The Board of <br />Education represents that, it has reviewed all provisions concerning the construction and other <br />accomplishment of the Facilities in the Financial Contract and hereby approves such provisions. <br />The Board of Education shall take possession of the Leased Property on the date of delivery of <br />this Lease. Title to the Leased Property shall be held by the County, subject only to Permitted <br />Encumbrances. <br />Section 7.2 Maintenance Repair, Taxes and Assessments. <br />(a) Maintenance; Repair. The Board of Education shall use, or cause to be used, the <br />Leased Property in a careful and proper manner, in compliance with all applicable laws and <br />regulations and, at its sole expense, shall service, repair, maintain and insure, or cause to be <br />serviced, repaired, maintained and insured, the Leased Property so as to keep the Leased <br />Property in good condition, repair, appearance and working order for the purposes intended, <br />ordinary wear and tear excepted. <br />Item# 7 <br />J <br />r <br /> <br />i <br />F <br /> <br />r <br /> <br /> <br />~i <br />f~ <br />r <br />i~ <br />C <br />Attachment number 2 <br />F - 5 Page 122 of 253 <br />