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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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4/14/2025 1:32:42 PM
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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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good i~'aith contest taxes, special assessments, utility or other charges in accordance with the <br />provisions of Section 7.3. However, nothing herein shall be construed to release Landlord. from <br />thc performance of its obligations hereunder; and if Landlord should fail to perform any such <br />obligation, Tenant may institute such legal action against Landlord as Tenant may deem <br />ne~zessary to compel the performance of such obligation or to recover damages therefor. <br /> Section 5.5. Current Expense. The obligations of Tenant Under this Lease, including <br />its obligation to pay the Rental Payments due with respect to the Project, in any Fiscal Year for <br />which this Lease is in effect, shall constitute a current expense of Tenant for such Fiscal Year. <br />The Tenant's obligations hereunder shall be from year to year only and shall not constitute an <br />indebtedness, liability or mandatory payment obligation of Tenant in any ensuing Fiscal Year <br />beyond the then current Fiscal Year. No provision herein shall be construed or interpreted as <br />orca ting a general obligation or other indebtedness of the Tenant within the meaning of any <br />constitutional or statutory debt limitation. -Except for the lien herein created in the Project and <br />the proceeds thereof, nothing herein shall be construed to pledge Or to create a lien on any taxes · <br />or on any other class or source of money of the Tenant, nor shall any provision herein restrict the <br />2~tur~_: issuance of any bonds of the Tenant or obligations payable from any class or source of <br /> <br />moneys. <br /> <br />i763908vl <br /> <br />35 <br /> <br /> <br />
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