Ordinance 2015-1695 - Laserfiche WebLink

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"Renewal Term" means any optional renewal of the Lease Term for the next Fiscal Year by the City, as provided in Article IV of this Lease. "Revenues" means (a) all monies currently budgeted and appropriated by the City for the purpose of paying amounts pursuant to this Lease including, but not limited to, all Base Rentals, Purchase Option Prices and Net Proceeds, but not including Additional Rentals; and (b) all other revenues of the City payable pursuant to this Lease, excluding Additional Rentals. "Solar Array Facility" means the Boulder County Solar Array located at 1600 S. 66th Street in Boulder, Colorado. ARTICLE II REPRESENTATIONS, COVENANTS AND WARRANTIES Section 2.01. Representations, Covenants and Warranties of the City. The City represents, covenants and warrants as follows: (a) The City is a political subdivision of the State, duly organized and existing under the laws of the State and the Charter. The City is authorized to enter into the transactions contemplated by this Lease and to carry out its obligations under this Lease. The City has duly authorized and approved the execution and delivery of this Lease. (b) The lease of the Leased Property from Alpine Bank pursuant to this Lease serves a public purpose and is in the best interests of the City, its residents and taxpayers. The rental, acquisition and installation of the Project by the City is necessary, convenient, in furtherance of and will at all times be used in connection with the City's governmental and proprietary purposes and functions and is in the best interests of the citizens of the City, and no portion of the Project will be used directly or indirectly in any trade or business carried on by any person other than a political subdivision or governmental unit of the State. (c) Neither the execution and delivery of this Lease, nor the fulfillment of or compliance with the terms and conditions of this Lease, nor the consummation of the transactions contemplated hereby or thereby, conflicts with or results in a breach of the terms, conditions or provisions of any restriction or any agreement or instrument to which the City is now a party or by which the City or its property is bound, or violates any statute, regulation, rule, order of any court having jurisdiction, judgment or administrative order applicable to the City, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien or encumbrance whatsoever upon any of the property or assets of the City, except for Permitted Encumbrances. (d) There is no litigation or proceeding pending or threatened against the City or any other person affecting the right of the City to execute this Lease or the ability of the City to make the payments required hereunder or to otherwise comply with the obligations contained herein. (e) The City has experienced no material change in its financial condition since December 31, 2013. 6 4812 - 2161 -1294 9