MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES. Section 8.01. Maintenance of the Leased Property by the City. The agrees that at all times during the Lease Term the City, will maintain, preserve and keep all portions of the Leased Property or cause the Leased Property to be maintained, preserved and kept, in good repair, working order and condition, and that the City will from time to time make or cause to be made all necessary and proper repairs, except as otherwise provided in Sections 9.02 and 10.03 of this Lease. The Lender shall not have any responsibility for such maintenance or repairs or for the making of any additions, modifications or replacements to the Leased Property. Section 8.02. Modification of the Leased Property, Installation of Furnishings and Machinery of the City. The City shall have the privilege of making or causing to be made substitutions, additions, modifications and improvements to any portion of the Leased Property, at its own cost and expense; and the same shall be the property of the Lender and, subject to this Lease, shall be included under the terms of this Lease and the Site Lease; provided, however, that such substitutions, additions, modifications and improvements shall not in any way damage the Leased Property or cause the Leased Property to be used for purposes other than lawful governmental or proprietary functions of the City (except to the extent of subleasing permitted under Section 12.01 hereof); and provided that the Leased Property, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, shall be of a value not less than the value of the Leased Property immediately prior to making such substitutions, additions, modifications and improvements.
Appears in 1 contract
Samples: Lease Purchase Agreement
MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES. Section 8.01. 8.1 Maintenance of the Leased Property by the CityTown. The Subject to its right to not appropriate and as otherwise provided in Section 9.3 hereof, the Town agrees that at all times during the Lease Term Term, the City, Town will maintain, preserve and keep all portions of the Leased Property or cause the Leased Property to be maintained, preserved and kept, in good repair, working order and condition, and that the City will from time to time make or cause to be made all necessary and proper repairs, except as otherwise provided in Sections 9.02 and 10.03 of this Leaseincluding replacements, if necessary. The Lender Trustee shall not have no responsibility in any responsibility for such maintenance or repairs of these matters or for the making of any additions, modifications or replacements to the Leased Property.
Section 8.02. 8.2 Modification of the Leased Property, ; Installation of Furnishings and Machinery of the CityTown. The City Town shall have the privilege of making or causing to be made substitutions, additions, modifications and improvements to any portion of the Leased Property, at its own cost and expense; , as appropriate and any such substitutions, additions, modifications and improvements to the same Leased Property shall be the property of the Lender andTown, subject to this the Site Lease, this Lease and the Indenture and shall be included under the terms of the Site Lease, this Lease and the Site LeaseIndenture; provided, however, that such substitutions, additions, modifications and improvements shall not in any way damage the Leased Property or cause the Leased Property to be used for purposes other than lawful governmental or proprietary functions of the City Town (except to the extent of subleasing permitted under Section 12.01 12.2 hereof); and provided that ) or cause the Leased Property, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, shall be of a value not less than the value of the Leased Property immediately prior Town to making such substitutions, additions, modifications and improvements.violate its tax covenant in Section
Appears in 1 contract
Samples: Lease Purchase Agreement
MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES. Section 8.01. Maintenance of the Leased Property by the CityCounty. The County agrees that at all times during the Lease Term the City, County will maintain, preserve and keep all portions of the Leased Property or cause the Leased Property to be maintained, preserved and kept, in good repair, working order and condition, and that the City County will from time to time make or cause to be made all necessary and proper repairs, except as otherwise provided in Sections 9.02 and 10.03 Section 9.03 of this Lease. The Lender ZB shall not have any responsibility for such maintenance or repairs or for the making of any additions, modifications or replacements to the Leased PropertyProperty so long as this Lease is in full force and effect.
Section 8.02. Modification of the Leased Property, Installation of Furnishings and Machinery of the CityCounty. The City County shall have the privilege of making or causing to be made substitutions, additions, modifications and improvements to any portion of the Leased Property, at its own cost and expense; and the same shall be the property of the Lender and, subject to this Lease, shall be included under the terms of this Lease and the Site LeaseLease and shall become part of the Leased Property; provided, however, that such substitutions, additions, modifications and improvements shall not in any way damage the Leased Property or cause the Leased Property to be used for purposes other than lawful governmental or proprietary functions of the City County (except to the extent of subleasing permitted under Section 12.01 hereof); and provided that the Leased Property, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, shall be of a value not less than the value of the Leased Property immediately prior to making such substitutions, additions, modifications and improvements. The County shall provide written notice to ZB of any material additions, modifications or improvements that are made to any portion of the Leased Property.
Appears in 1 contract
Samples: Lease Purchase Agreement
MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES. Section 8.01. 10.1 Maintenance of the Leased Property by the City. The Subject to its right to not appropriate and as otherwise provided in Section 11.3 hereof, the City agrees that at all times during the Lease Term Term, the City, City will maintain, preserve and keep all portions of the Leased Property or cause the Leased Property to be maintained, preserved and kept, in good repair, working order and condition, and that the City will from time to time make or cause to be made all necessary and proper repairs, except as otherwise provided in Sections 9.02 and 10.03 of this Leaseincluding replacements, if necessary. The Lender Trustee shall not have no responsibility in any responsibility for such maintenance or repairs of these matters or for the making of any additions, modifications or replacements to the Leased Property.
Section 8.02. 10.2 Modification of the Leased Property, ; Installation of Furnishings and Machinery of the City. The City shall have the privilege of making or causing to be made substitutions, additions, modifications and improvements to any portion of the Leased Property, at its own cost and expense; , as appropriate, and any such additions, modifications and improvements to the same Leased Property shall be the property of the Lender andCity, subject to this the Site Lease, this Lease and the Indenture, and shall be included under the terms of the Site Lease, this Lease and the Site LeaseIndenture; provided, however, that such substitutions, additions, modifications and improvements shall not in any way damage the Leased Property or cause the Leased Property to be used for purposes other than what was its intended purpose upon construction or other lawful governmental or proprietary functions of the City (except to the extent of subleasing permitted under Section 12.01 14.2 hereof)) or cause the City to violate its tax covenant in Section 12.5 hereof; and provided that the Leased Property, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, shall be of a value not less than the value of the Leased Property immediately prior to such making such substitutions, of additions, modifications and improvements.
Appears in 1 contract
Samples: Lease Purchase Agreement