Ordinance 2015-1695 - Laserfiche WebLink

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Alpine Bank with hardcopy or electronic copies of its annual budget within seven days after the budget is adopted, but not later than the fourth day after the end of such Fiscal Year, provided that telephonic notice is provided by the City to Alpine Bank of the adoption of the budget not later than the end of the first Business Day of the next succeeding Fiscal Year. If such budget and appropriation are not adopted, Alpine Bank shall notify the City in writing as further provided in Section 6.06 hereof. Section 4.02. Termination of Lease Term. The Lease Term shall terminate upon the earliest of any of the following events: (a) the last day of any Fiscal Year during which there has occurred an Event of Nonappropriation pursuant to Section 4.01 and Article VI of this Lease (provided that the Lease Term will be deemed to have been renewed and, therefore, not terminated if the Event of Nonappropriation is cured as provided in Section 6.06 hereof); or (b) the conveyance of all of the Leased Property to the City upon payment of the Purchase Option Price or all Base Rentals and Additional Rentals as provided in Section 11.02(a) and (b) of this Lease; or (c) an Event of Default and termination of this Lease under Article XIII of this Lease. An election not to renew the Lease Term shall terminate all unaccrued obligations of the City under this Lease, and shall terminate the City's rights of possession under this Lease at the end of the last day of the Fiscal Year for which this Lease shall be in effect (except to the extent of the holdover provisions of Section 13.02(d)(i) hereof, and except for any conveyance pursuant to Article XI of this Lease). Except for an event described in subparagraph (b) above, upon termination of this Lease, the City agrees to peaceful delivery of the Leased Property to Alpine Bank or its assigns at the site of the Leased Property. ARTICLE V ACQUISITION; USE OF CERTAIN FUNDS Alpine Bank has acquired the Panels and has no further obligation to incur costs with respect to such acquisition; provided, however, that Alpine Bank shall, on the date of execution hereof, cause the amount of $13,821.00 to be applied, on behalf of and at the direction of the City, to certain costs of issuance (including all fees due to Alpine Bank in connection with this Lease as of the date hereof). ARTICLE VI PAYMENTS BY THE CITY Section 6.01. Payments to Be Paid From Currently Budgeted Expenditures of the City. The City and Alpine Bank acknowledge and agree that the Base Rentals and Additional Rentals hereunder during the Original Term and all of the Renewal Terms, if any, shall be paid from then currently budgeted Revenues of the City, using any legally available funds of the 11 4812 - 2161 -1294 9