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AG 1999 07 12
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AG 1999 07 12
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Last modified
3/25/2002 6:00:20 PM
Creation date
11/27/2017 11:49:47 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/12/1999
Board
Board of Commissioners
Meeting Type
Regular
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requirements of all insurance companies written policies covering the Facilities or any <br />portion thereof. <br /> <br />ARTICLE X <br /> <br />TITLE TO LEASED PROPERTY <br /> <br />LIMITATIONS ON ENCUMBRANCES <br /> <br /> 10. 1 Title to Leased Property. Except for personal property purchased by the <br />Board of Education at its own expense, title to the Leased Property and any and all <br />additions and modifications to or replacements of any portion of the Leased Property <br />shall be held in the County's name, subject only to Permitted Encumbrances, until <br />foreclosed upon or conveyed as provided in the Lease, notwithstanding (a) the occurrence <br />of one or more events of default as defined in the Financing Contract; (b) the occurrence <br />of any event of damage, destruction, condemnation or construction or title defect; or (c) <br />the violation by the County of any provision of this Lease. <br /> <br /> The Board of Education shall have no right, title or interest in the Leased Property <br />or any additions and modifications to or replacements of any portion of the Leased <br />Property, except as expressly set forth in this Lease. <br /> <br />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 Tem~, 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 ~aotice from the County or the Bank, as the case may be, in any <br /> <br /> <br />
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