AG 2009 04 20 - Laserfiche WebLink

Home Browse Search

C County, in accordance with the provisions of this Lease, to have and to hold for the Lease Term. ARTICLE IV LEASE TERM 4.1 Commencement. The Lease Term shall commence on August 18, 2008, and shall end on June 30, 2010. 4.2 Termination. The Lease Term shall terminate upon the earlier of either of the following events: (a) Purchase of the Leased Property by the Board; or (b) An Event of Default and termination by the County pursuant to Article XI. Termination of the Lease Term shall terminate all the County's obligations under this Lease, and shall terminate the Board of Education's rights of possession under this Lease, but all other provisions of this Lease, including the receipt and disbursement of funds, shall be continuing until the financial terms of the Lease are discharged as provided herein. ARTICLE V QUIET ENJOYMENT; PURCHASE OPTION 5.1 Quiet Enjo t~ Went. The County hereby covenants that the Board of Education shall, during the Lease Term, peaceably and quietly have and hold and enjoy the Leased Property without suit, trouble or hindrance from the County, except as expressly required or permitted by this Lease. The County shall not interfere with the quiet use and enjoyment of the Leased Property during the Lease Term. The County shall, at the Board of Education's request and the County's cost, join and cooperate fully in any legal action in which the Board of Education assets its right to such possession and enjoyment, or which involves the imposition of any taxes or other governmental charges on or in connection with the Leased Property. In addition, the Board of Education may at its own expense join in any legal action affecting its possession and enjoyment of the Leased Property, and shall be joined (to the extent legally possible, and at the Board of Education's expense) in any action affecting its liabilities hereunder. 5.2 Purchase Option. The Board of Education shall have the option to purchase the Leased Property, in whole but not in part, at the end of the Lease Term upon payment to the County of a purchase option price of One Dollar ($1.00). The Board of Education shall notify the County of its exercising of this option within fifteen (15) days after the end of the Lease Term, and within forty-five (45) days thereafter, the County shall execute and deliver all necessary documents conveying to the Board of Education good and marketable title to the Leased Property, subject only to (a) easements, restrictions and rights of way of record or applicable to the Leased Property (the "Permitted Encumbrances") and (b) any encumbrance or imperfection caused by or attributable to the Board of Education. WCSR 4071622x1 ~: C i C 0 i n C C Attachment number 3 F-10 Page 140 of 320