Ordinance 2015-1695 - Laserfiche WebLink

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"Lease Remedy" or "Lease Remedies" means any or all remedial steps provided in Section 13.02 of this Lease whenever an Event of Default hereunder has happened and is continuing. "Lease Term" means the time during which the City is the lessee of the Leased Property under this Lease, including the Original Term and all Renewal Terms as provided in and subject to Article IV and Sections 6.01, 6.02 and 6.06 of this Lease; certain provisions of this Lease survive the termination of the Lease Term, as provided in Section 4.02 of this Lease. "Net Proceeds" when used with respect to any performance or payment bond proceeds, or proceeds of insurance, including self - insurance, required by this Lease, or proceeds from any condemnation award, or any proceeds resulting from default or breaches of warranty under any contract relating to the Leased Property or proceeds from any Lease Remedy, means the amount remaining after deducting from such proceeds (a) all expenses (including, without limitation, attorneys' fees and costs) incurred in the collection of such proceeds or award; and (b) all other fees, expenses and payments due to Alpine Bank. "Original Term" means the portion of the Lease term that terminates on December 31, 2015. "Opinion of Counsel" means a written opinion of legal counsel. "Permitted Encumbrances" means, as of any particular time: (a) liens for taxes and assessments not then delinquent, or liens which may remain unpaid pending contest pursuant to the provisions of Article VII and Article VIII of this Lease; (b) this Lease; (c) utility, access and other easements and rights of way, restrictions and exceptions which an Authorized Officer of the City certifies will not interfere with or impair the Leased Property; (d) any financing statements filed to perfect security interests pursuant to this Lease; (e) any encumbrance represented by financing statements in forms appropriate to perfect purchase money security interests given by Alpine Bank in any of the Leased Property; and (f) such minor defects, irregularities, encumbrances and clouds on title as normally exist with respect to property of the general character of the Leased Property and as do not render the title unmarketable. "Purchase Option Price" means the amount payable, at the option of the City, after the Conversion Date, for the purpose of terminating this Lease with respect to the Leased Property, purchasing the Leased Property pursuant to Articles IV and XI of this Lease. The Purchase Option Price shall consist of the Remaining Lease Balance shown in Exhibit B hereto as of the last Base Rental Payment Date preceding the termination of this Lease, plus the interest component of Base Rentals accrued through the date of such termination. "REC Payments" means the REC Payments payable to the City by CEC pursuant to Section 2.4 of the Energy Agency Agreement relating to renewable energy credits. "Recurring O&M Fee" shall have the meanings assigned it in the Co- Location Agreement. "Remaining Lease Balance" means, as of any particular date, the Remaining Lease Balance stated for such date in Exhibit B. 5 4812- 2161 -1294 9