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6097 (EXHIBIT A - E)
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6097 (EXHIBIT A - E)
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Last modified
12/6/2004 2:47:13 PM
Creation date
11/5/2014 12:21:26 PM
Metadata
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Template:
City Ordinances
Passed
2/10/1997
Ordinance Number
0
Bill Number
8316
Introdate
1/27/1997
Description
APPROVING DELIVERY OF $1,425,000 PRINCIPAL AMOUNT OF CERTIFICATES OF PARTICIPATION TO PAY FOR NEW PARKING GARAGE CONSTRUCTION
Introduced By
MUNKEL
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the Insurance Fund under the Indenture to be applied to rebuild and repair the Leased Property or prepay <br />Outstanding Certificates as provided in Article VIII hereof. <br /> <br /> (f) Any deductible under any policies of insurance that the Lessee is required to keep or <br />cause to be kept pursuant to Section 6.01(a) hereof may be insured through any self-insurance program <br />of the Lessee. <br /> <br /> (g) The Lessee shall comply with all reasonable rules, directions, requirements and <br />recommendations of the local board of fire underwriters and other fire insurance rating organizations for <br />the area in which the Leased Property is situated, pertaining to the Leased Property or the use and <br />occupancy thereof. The Lessee will not do or suffer to be done, or keep or suffer to be kept anything in, <br />upon or about the Leased Property which will contravene any policies insuring against loss or damage by <br />fire or other hazards, including but not limited to public liability insurance. <br /> <br /> Section 6.02. Title Insurance. Prior to or simultaneously with the delivery of the Certificates, <br />the Lessee shall obtain an ALTA form leasehold owner's policy of title insurance insuring the Leased <br />Property in an amount equal to the principal amount of the Certificates, issued by a company authorized <br />to issue such policy in the State of Missouri. The Net Proceeds with respect to such policy shall be <br />applied in accordance with the provisions of Article VIH hereof. <br /> <br />Section 6.03. Taxes. <br /> <br /> (a) The Lessor and the Lessee understand and agree that the Leased Property constitute <br />public property free and exempt from all taxation; provided, however, that the Lessor agrees to cooperate <br />with the Lessee, upon written request by the Lessee, to contest any proposed tax or assessment, or to take <br />steps necessary to recover any tax or assessment paid. The Lessee agrees to reimburse the Lessor from <br />Supplemental Rent for any and all costs and expenses thus incurred by the Lessor. <br /> <br /> (b) Notwithstanding Section 6.03(a) hereof, if the Leased Property or any portion thereof <br />are, for any reason, deemed subject to taxation, assessments or charges lawfully made by any <br />governmental body, Supplemental Rent shall be paid by the Lessee equal to the amount of all such taxes, <br />assessments and governmental charges then due. With respect to special assessments or other <br />governmental charges that may be lawfully paid in installments over a period of years, the Lessee will be <br />obligated hereunder to provide for Supplemental Rent only for such installments as are required to be <br />paid during the term of this Lease. The Lessee will not allow any liens for taxes, assessments or <br />governmental charges to exist with respect to the Leased Property or any portion thereof (including, <br />without limitation, any taxes levied upon the Leased Property or any portion thereof which, if not paid, <br />will become a charge on the Payments and receipts from the Leased Property or any portion thereof prior <br />to or on a parity with the charge thereon and the pledge and assignment thereof to be created and made in <br />the Indenture), or any interest therein (including the interest of the Lessor) or the Payments and revenues <br />derived therefrom or hereunder. <br /> <br /> ARTICLE VII <br /> <br /> ALTERATIONS, ADDITIONS AND IMPROVEMENTS <br /> <br /> Section 7.01. Alterations, Additions and Improvements to the Leased Property. The Lessee <br />will have the right during the term of the Lease to make any alterations, additions or improvements of <br /> <br />-11- <br /> <br /> <br />
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