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Agenda - Economic Development Authority - 05/24/2005
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Agenda - Economic Development Authority - 05/24/2005
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Last modified
4/14/2025 1:32:42 PM
Creation date
5/20/2005 11:16:45 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
05/24/2005
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Table of Contents <br /> <br /> ARTICLE I DEFINITIONS AND EXHIBITS ................................................. : ......................... 2 <br /> Section ! .I. Definitions ........................................... : ................................................ 2 <br /> Section 1.2. Exhibits ................................................................................................. 6 <br /> <br /> ARTICLE II REPRESENTATIONS, COVENANTS AND WARRANTIES ............................ 7 <br /> Section 2.1. Representations,' Covenants and Warranties of Tenant ........................ 7 <br /> Section 2.2. Representations, Covenants and Warranties of Landlord ..................... 8 <br />ARTICLE III ACQUISITION AND CONSTRUCTION OF PROJECT ................................... 10 <br /> Section 3. t. Agreement to Construct the Project .................................................... 10 <br /> Section 3.2. Agreement to Issue Bonds; Application of Bond Proceeds ................ 10 <br /> Section 3.3. Disbursements fi:om the Construction Fund ....................................... 10 <br /> Section 3.4. Obligation of the Parties to Cooperate in Furnishing <br /> Documents to Trustee ......................................................................... 12 <br /> Section 3.5. Establishment of Completion Date ..................... : ........ ' .......... ~ ............ 12 <br /> Section 3.6. Tenant Required to Pay Project Costs in Event Construction <br /> Fund Insufficient ................................................................................. 12 <br /> Section 3.7. Remedies to be Pursued Against Contractors and <br /> Subcontractors and Their Sureties ...................................................... 13 <br /> Section 3.8. Investment of Construction Fund and Reserve Fund Moneys <br /> Permitted ............................................................................................. 13 <br /> Section 3.9. Liens and Encumbrances .............. ~ ..................................................... 13 <br />ARTICLE IV TERM OF LEASE ................................................................................................ I5 <br /> Section 4.1. Lease Term .................................................................... i ..................... 15 <br /> Section 4.2. Possession and Enjoyment .................................................................. 15 <br /> Section 4.3. Termination by Tenant ....................................................................... 15 <br /> Section 4.4. Intent to Continue Lease Term; Appropriations and Property <br /> Taxes ................................................................................................... 15 <br /> Section 4.5. Effect of Termination ......................................................................... 15 <br /> Section 4.6. Termination of Lease Term ................................................................ 16 <br />ARTICLE V RENTAL PA~TS ............. : .................................. : ....................................... 17 <br /> Section 5.1. Rental Payments ................................................................................. i7 <br /> Section 5.2. Place of Payment of Rental Payments ................................................ 17 <br /> Section 5.3. Additional Rental Payments ............................................. 2 ................. 18 <br /> Section 5.4. l~ental Payments to be Unconditional ................................................. 18 <br /> Section 5.5. Current Expense ............................................................. : .................... l 9 ' <br />ARTICLE VI INSURANCE gaND INDEMNIFICATION ......................................................... 20 <br /> Section 6.1. Liability Insurance .......................................................... : ................... 20 <br /> Section 6.2. Property Insurance ................................................. , ............................ 20. <br /> Section 6.3. Worker's Compensation Insurance ............................................ -. ........ 20 <br /> Section 6.4. Requirements For Ali' Insurance ......................................................... 20 <br /> Section 6.5. Indemnification; Haz~dous Substance .............................................. 21 <br /> Section 6.6. Damage to or Destruction or Condemnation of Project ..................... 22 <br /> <br />ARTICLE VII OTHER OBLIGATIONS OF TENANT ............................................. ; ................ 23 <br /> Section 7.1. Use; Permits ............... : ........................................................................ 23 <br /> Section 7.2. Maintenance of Project by Tenant ...................................................... 23 <br /> <br />1763908vl [ <br /> <br /> <br />
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