6097 (EXHIBIT A - E) - Laserfiche WebLink

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GROUND LEASE THIS GROUND LEASE (the "Ground Lease"), dated as of February 1, 1997, by and betweea the CITY OF UNIVERSITY CITY, M1SSOURI (the "City"), as lessor, and MAGNA TRUST COMPANY, an Illinois business corporation duly organized and existing and authorized to conduct its operations under the laws of the States of Illinois and Missouri (together with its successors, the "Trustee"), as lessee: RECITALS WHEREAS, the City is a constitutional charter city and political subdivision duly organized and existing under the laws of the State of Missouri with full lawful power and authority to enter into this Ground Lease; and WHEREAS, the Trustee is an Illinois business corporation duly organized and existing and authorized to conduct its operations under the laws of the States of Illinois and Missouri with full lawful power and authority to enter into this Ground Lease; and WHEREAS, the City owns fee simple title to the real estate described on Exhibit A attached hereto, together with any improvements located or to be located thereon (the "Leased Property"); and WHEREAS, the City desires to lease the Leased Property to the Trustee for the rental payments and upon the terms and conditions herein set forth in order to provide funds to pay a portion of the costs of constructing and equipping a three-story, 120-space parking facility on the real estate described on Exhibit A, which facility will contain approximately 6,000 square feet of retail space on the ground floor (the "Project"); and WHEREAS, the Trustee proposes to lease the Leased Property back to the City pursuant to a Lease/Purchase Agreement of even date herewith (the "Lease") and to execute a Declaration and Indenture of Trust of even date herewith (the "Indenture"), under which the Trustee will issue Certificates of Participation (City of University City, Missouri, Parking Facility Project), Series 1997 (the "Certificates") to provide funds (1) to pay a portion of the costs of the Project, (2) to fund a debt service reserve fund for the Certificates and (3) to pay the costs of issuing the Certificates; NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein set forth, the City and the Trustee do hereby covenant and agree as follows: Section 1. Representations by the City. The City represents, warrants and covenants as follows: (a) The lease of the Leased Property to the Trustee and the lease of the Leased Property by the Trustee to the City, as provided in the Lease, is necessary, desirable and in the public interest and the City hereby declares its current need for the Project; (b) The City has the power and authority to enter into the transactions contemplated by this Ground Lease and the Lease and to carry out its obligations hereunder and thereunder, and has been duly authorized to execute and deliver this Ground Lease and the Lease and by proper action has duly authorized the execution and delivery of this Ground Lease and the Lease;