Laserfiche WebLink
The County and the Board of Education acknowledge their understanding that although the County's <br />providing the Leased Property to the Board of Education for use is of substantial value to the Board of <br />Education, any payment by the Board of Education of a market value rent would represent simply an <br />accounting transaction, because the Board of Education's funding is primarily provided through the <br />County. <br />ARTICLE VIII <br />CONSTRUCTON AND OTHER ACCOMPLISHMENT OF <br />SCHOOL FACILITY AND CERTAIN RELATED COVENANTS <br />7.1 Construction and Other Accomplishment of the Facilities. The County has provided in the <br />Agency Agreement for the construction and other accomplishment of the Facilities by the Board of <br />Education as the County's agent. The Board of Education represents that it has reviewed all provisions <br />concerning the construction and other accomplishment of the Facilities in the Financial Contract and <br />hereby approves such provisions. The Board of Education shall take the possession of the Leased Property <br />on the date of delivery of this Lease. Title to the Leased Property shall be held by the County, subject only <br />to Permitted Encumbrances. <br />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 Property <br />in good condition, repair, appearance and working order for the purposes intended, ordinary wear <br />and tear excepted. <br />(b) Taxes and Assessments. The Board of Education shall also pay, or cause to be <br />paid, all taxes and assessments, including, but not limited to, utility charges, of any type or nature, <br />levied, assessed or charged against any portion of the Leased Property, provided that with respect <br />to special assessments or other governmental charges that may lawfully be paid in installments <br />over a period of years, the Board of Education shall be obligated to pay only such installments as <br />are required to be paid as and when the same become due. <br />(c) Contests. The Board of Education may, at its sole expense and in its name, in <br />good faith contest any such taxes, assessments, utility and other charges and if any such contest <br />occurs, may permit the taxes, assessments, utility and other charges so contested to remain <br />unpaid during the period of such contest and any appeal therefrom; but before such non- <br />payment, it shall furnish the County with the opinion of a counsel, acceptable to the County, to <br />the effect that by non-payment of any such items, the interest of the County in the Leased <br />Property will not be materially endangered and that the Leased Property will not be subject to <br />loss or forfeiture. The County will cooperate fully in such contest on the request and at the <br />expense of the Board of Education. <br />7.3 Modification of Leased Property; Liens <br />(a) Additions Modifications and Improvements. The Board of Education shall, at its <br />own expense, have the right to make, or cause to be made, additions, modifications and <br />4 <br />63112517.5-(Marilyn McKinley) <br />Page 320 <br />