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6462
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6462
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Last modified
12/6/2004 2:49:57 PM
Creation date
11/5/2014 12:23:45 PM
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City Ordinances
Passed
11/3/2003
Ordinance Number
6462
Bill Number
8694
Introdate
11/3/2003
Description
Winco Redevelopment Revenue Bonds $6,000,000
Introduced By
Munkel
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(g) <br /> <br />Amounts Payable under Performance Agreement. The Company shall pay to the Person <br />or Persons entitled thereto, the amounts which the Company has agreed to pay under the <br />Performance Agreement. <br /> <br />(h) <br /> <br />Other Amounts Payable. The Company shall pay to the Person or Persons entitled <br />thereto, any other amounts which the Company has agreed to pay under this Lease <br />Agreement or which the Company is required to pay under the Indenture or any other <br />Financing Document. <br /> <br /> Section 4.4. Obligations Absolute and Unconditional. The obligations of the Company <br />under this Lease Agreement are absolute and unconditional obligations of the Company, and the full faith <br />and credit of the Company is pledged to the payment of all amounts due and payable by the Company <br />under this Lease Agreement. The Company shall pay all such amounts due and payable under this Lease <br />Agreement using any and all available resources of the Company, as necessary. The Company shall pay <br />all Lease Payments and other payments due under this Lease Agreement and perform its obligations, <br />covenants and agreements under this Lease Agreement, without notice or demand, and without abatement, <br />deduction, set-off, counterclaim, recoupment, discrimination or defense or any right of termination or <br />cancellation arising from any circumstances whatsoever, including, without limiting the generality of the <br />foregoing, failure of the Company to complete the acquisition, improving and equipping of the Project, <br />the occurrence of any acts or circumstances that may constitute failure of consideration, eviction or <br />constructive eviction, destruction of or damage to the Project, the taking by eminent domain of title to or <br />temporary use of any or all of the Project, commercial frustration of purpose, any change in the tax or <br />other laws of the United States of America or of the State or any political subdivision of either thereof or <br />any failure of the Issuer or the Trustee to perform and observe any agreement, whether express or implied, <br />or any duty, liability or obligation arising out of or connected with this Lease Agreement, and regardless <br />of the invalidity of any portion of this Lease Agreement. To the extent permitted by law, the Company <br />waives the provisions of any statute or other law now or hereafter in effect contrary to any of its <br />obligations, covenants or agreements under this Lease Agreement or which releases or purports to release <br />the Company therefrom. Nothing in this Lease Agreement shall be construed as a release of the Issuer <br />from its obligations hereunder or waiver by the Company of any rights or claims the Company may have <br />against the Issuer or the Trustee under this Lease Agreement or otherwise, but any recovery upon such <br />rights or claims shall be had from the Issuer and the Trustee separately, it being the intent of this Lease <br />Agreement that the Company shall be absolutely and unconditionally obligated to perform fully all of its <br />obligations, agreements and covenants under this Lease Agreement for the benefit of the owners of the <br />Bonds. <br /> <br /> Section 4.5. Assignment of Issuer's Rights. Under the Indenture, the Issuer has pledged, <br />assigned, transferred in trust and granted a security interest to the Trustee in all of the Issuer's rights, title <br />and interest under this Lease Agreement (except for the Issuer's rights to payment of its fees and expenses <br />and the Issuer's right to indemnification in certain circumstances expressly set forth in this Lease <br />Agreement) as security for the Bonds, and such rights, title and interest may be exercised, protected and <br />enforced for or on behalf of the owners of the Bonds in conformity with this Lease Agreement and the <br />Indenture. The Trustee is hereby given the right to enforce, as assignee of the Issuer, the performance of <br />the obligations of the Company under this Lease Agreement, and the Company hereby consents to the <br />same and agrees that the Trustee may enforce such rights as provided in this Lease Agreement and in the <br />Indenture. This Lease Agreement recognizes that the Trustee is a third party creditor-beneficiary of this <br />Lease Agreement. <br /> <br /> Section 4.6. Assignment of Company's Rights Under Lease Agreement. The Issuer <br />acknowledges that the Company has assigned its rights under this Lease Agreement to the Bank as <br /> <br />2164784 -12- <br /> <br /> <br />
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