Ordinance 2015-1695 - Laserfiche WebLink

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Section 2.02. Representations, Covenants and Warranties of Alpine Bank. Alpine Bank represents, covenants and warrants as follows: (a) Alpine Bank has all requisite power to acquire legal interests in the Leased Property and to execute, deliver, enter into and perform the transactions contemplated by this Lease and to carry out its obligations under this Lease, and has duly executed and delivered this Lease and all other documents related to this Lease. (b) Except as expressly provided in this Lease, Alpine Bank will not pledge or assign its right, title and interest in and to any of its rights under this Lease or assign, pledge, mortgage, encumber or grant a security interest in its right, title and interest in, to or under this Lease or the Leased Property. Alpine Bank represents that neither the Lease nor any interest therein will be transferred or resold except in compliance with Section 14.05 hereof. (c) Neither the execution and delivery of this Lease nor the fulfillment of or compliance with the terms and conditions hereof and thereof, nor the consummation of the transactions contemplated hereby and thereby, conflicts with or results in a breach of the terms, conditions and provisions of any restriction or any agreement or instrument to which Alpine Bank is now a party or by which Alpine Bank is bound, or constitutes a default under any of the foregoing. (d) Except as specifically provided in this Lease, Alpine Bank will not assign its duties and obligations under this Lease to any other person, firm or investor, so as to impair or violate the representations, covenants and warranties contained in this Section 2.02. (e) There is no litigation or proceeding pending or threatened against Alpine Bank or any other person affecting the right of Alpine Bank to execute this Lease and to perform its obligations hereunder and thereunder. (f) Alpine Bank acknowledges that the obligations of the City under this Lease are payable solely from the Revenues under this Lease and shall not constitute or give rise to a general obligation or multiple - fiscal year direct or indirect debt or other financial obligation whatsoever of the City within the meaning of any constitutional, charter or statutory provision or limitation nor a mandatory charge or requirement against the City in any ensuing Fiscal Year beyond any Fiscal Year during which this Lease shall be in effect. Alpine Bank further acknowledges that the City may elect not to renew this Lease by failure to budget and appropriate funds sufficient to meet its next Fiscal Year's Base Rentals and Additional Rentals, and that the acts of budgeting and appropriating funds are legislative acts and, as such, are solely within the discretion of the Council. 7 4812- 2161 -1294 9