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AG 2002 09 16 (Regular)
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AG 2002 09 16 (Regular)
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Last modified
3/2/2006 5:01:44 PM
Creation date
11/27/2017 11:44:08 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/16/2002
Board
Board of Commissioners
Meeting Type
Regular
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ARTICLE XI <br /> <br />ASSIGNMENT, SUBLEASING, AND INDEMNIFICATION <br /> <br /> 11.1 Board of Education's Assignment and Subleasing. The Board of <br />Education may not sublease the Leased Property, in whole or in part, without the consent <br />of the County and the Corporation. <br /> <br /> 11.2 Indemnification. To the extent permitted by law, the Board of Education <br />shall and hereby agrees to indemnify and save the County and the Corporation harmless <br />against and from all claims, by or on behalf of any person, firm, corporation or other <br />legal entity arising from the operation or management of the Leased Property by the <br />Board of Education during the Lease Term, including any arising from: (a) any condition <br />of the Leased Property; (b) any act of negligence of the Board of Education or of any of <br />its agents, contractors or employees or any violation of law by the Board of Education or <br />breach of any covenant or warranty by the Board of Education hereunder; or (c) the <br />incurrence of any cost or expense in connection with the acquisition and construction of <br />the Facilities in excess of the monies available therefor in the Acquisition and <br />Construction Fund. Upon notice from the County or the Bank, as the case may be, in any <br />action or proceeding brought in connection with any claims arising out of circumstances <br />described in (a), (b), or (c) above, the Board of Education shall further provide for the <br />defense of such claim for the County and/or the Corporation, as the case may be. <br /> <br />ARTICLE XII <br /> <br />EVENTS OF DEFAULT <br /> <br /> 12.1 Events of Default. The'following shall be "Events of Default" under this <br />Lease, and term "Default" shall mean, whenever it is used in this Lease, any one or more <br />of the following events: <br /> <br />when_due_ <br /> <br />(a) <br /> <br />The Board of Education's failure to make any payments hereunder <br /> <br /> (b) The Board of Education's failure to observe and perform any <br />covenant, condition or agreement on its part to be observed or performed for a period of <br />thirty (30) days after written notice specifying such failure and requesting that it be <br />remedied shall have been given to the Board of Education by the County, the Trustee or <br />the Insurer, unless the County, the Trustee and the Insurer shall agree in writing to an <br />extension of such time prior to its expiration; provided, however, if the .failure stated in <br />the notice cannot be corrected within the applicable period, neither the County, the <br />Trustee nor the Insurer shall unreasonably withhold its consent to an extension of such <br /> <br />10 <br /> <br /> <br />
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