AG 2008 08 18 - Laserfiche WebLink

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(b) An Event of Default and termination by the County pursuant to Article XII. 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 finds, shall be continuing until the Financial Contract is discharged as provided therein. ARTICLE V QUIET ENJOYMENT; PURCHASE OPTION 5.1 Ouiet Enjoyment. 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 Boazd 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) encumbrances, other than the Deed of Trust, referenced in the title insurance binder (the "Permitted Encumbrances") and (b) any encumbrance or imperfection caused by or attributable to the Boazd of Education. ARTICLE VI CONSIDERATION FOR LEASE 6.1 Use: Assumption of Obli atg ions. In partial consideration for its acquisition of rights to use the Leased Property during the Lease Term and its option to Purchase the Leased Property, the Board of Education hereby agrees to use the Leased Property for public school purposes in fixlfillment of its obligation, shazed by the County, to provide for elementary and secondary education in the County. In addition, in consideration of its rights under this Lease, the Boazd of Education undertakes the obligations imposed on it hereunder, including those imposed by Section 8.1. ,,.. 3