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Lease Agreement City of RWC PFA as sublessor
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Lease Agreement City of RWC PFA as sublessor
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Last modified
10/1/2013 10:42:00 AM
Creation date
10/1/2013 10:41:52 AM
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Template:
Agreement
Contractor Name
City of RWC Public Financing Authority
PROJECT NAME
Lease Agreement City of RWC PFA as sublessor
RMP File Number
505
Date
5/1/2013
Reso Ref
15264 and PFA 13-03
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TABLE OF CONTENTS <br /> ARTICLE I <br /> DEFINITIONS; RULES OF INTERPRETATION <br /> Section1.1. Definitions....................................................................................................................1 <br /> Section1.2. Interpretation................................................................................................................6 <br /> � ARTICLE II <br /> COVENANTS,REPRESENTATIONS AND WARRANTIES <br /> Section 2.1. Covenants. Representations and Warranties of the CitX..............................................6 <br /> Section 2.2. Covenants, Re�resentations and Wananties of the Authority.....................................9 <br /> ARTICLE III <br /> DEPOSIT AND APPLICATION OF FUNDS <br /> Section 3.1. Deposit of and Application of Funds.........................................................................11 <br /> Section 3.2. Termination of the 1998 Lease A�reement...............................................................11 <br /> ARTICLE IV <br /> LEASE OF PROPERTY; LEASE PAYMENTS <br /> Section 4.1. Sublease of Propertv by the Authoritv Back to the City............................................1 l <br /> Section4.2. Term...........................................................................................................................11 <br /> Section4.3. Lease Payments..........................................................................................................12 <br /> Section4.4.Quiet En�oyment.............................................:..........................................................15 <br /> Section4.5. Title............................................................................................................................15 <br /> Section 4.6. Release of Excess Property........................................................................................15 <br /> Section 4.7. Substitution of Propertv.............................................................................................16 <br /> ARTICLE V <br /> MAINTENANCE; TAXES; INSURANCE; AND OTHER MATTERS <br /> Section 5.1. Maintenance,Utilities. T�es and Assessments........................................................18 <br /> Section 5.2. Modification of Pro�ertv............................................................................................18 <br /> Section 5.3. Public Liability Insurance..........................................................................................19 <br /> Section 5.4. Casualty Insurance.....................................................................................................19 <br /> Section 5.5.Rental Interruption Insurance ....................................................................................19 <br /> Section 5.6. Worker's Com�ensation Insurance............................................................................20 <br /> Section 5.7. Recordation Hereof: Title Insurance..........................................................................20 <br /> Section 5.8. Insurance Net Proceeds: Form of Policies.................................................................20 <br /> Section 5.9. Installation of Citv's Personal Property.....................................................................20 <br /> Section5.10. Liens.........................................................................................................................21 <br /> Section5.1 l. Advances..................................................................................................................21 <br /> Section 5.12. Environmental Covenants........................................................................................21 <br /> Section 5.13. City Consents to Assi�nment Ag;reement................................................................21 <br /> ARTICLE VI <br /> EMINENT DOMAIN;USE OF NET PROCEEDS <br /> Section6.1. Eminent Domain........................................................................................................22 <br /> Section 6.2. Application of Net Proceeds......................................................................................22 <br /> Section 6.3. Abatement of Lease PaYments in the Event of Damage or Destruction....................24 <br /> ARTICLE VII <br /> OTHER COVENANTS OF THE CITY <br /> Section 7.1. Disclaimer of Warranties...........................................................................................24 <br /> -i- <br /> 338802_2.DOC <br />
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