Ordinance 2015-1695 - Laserfiche WebLink

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are owed. If the City's estimates of Additional Rentals for any Fiscal Year are not itemized in the budget required to be furnished to Alpine Bank under Section 4.01 of this Lease, the City shall furnish an itemization of such estimated Additional Rentals to Alpine Bank on or before the last day of such Fiscal Year. Section 6.03. Interest Component. A portion of each payment of Base Rentals is paid as, and represents payment of, interest, and Exhibit B hereto, as may be amended from time to time hereunder by written agreement signed by Alpine Bank and the City Manager of the City, sets forth the interest component of each payment of Base Rentals. Section 6.04. Manner of Payment. The Base Rentals and, if paid, the Purchase Option Price, shall be paid by the City by certified funds or other method of payment acceptable to Alpine Bank in lawful money of the United States of America to Alpine Bank at its principal corporate trust office for deposit. The obligation of the City to pay the Base Rentals and Additional Rentals, during the Original Term and each Renewal Term, shall be absolute and unconditional, payable from all legally available sources, and payment of the Base Rentals and Additional Rentals shall not be abated through accident or unforeseen circumstances, or for any other reason, including without limitation, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Leased Property, commercial frustration of purpose, or failure of Alpine Bank to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Lease, it being the intention of the parties that the payments required by this Lease will be paid in full when due without any delay or diminution whatsoever, subject only to the special and limited nature of the City's obligation to make payments hereunder as set forth in Section 6.01 above, and further subject to the City's rights under Section 8.02 hereof. Notwithstanding any dispute between the City and Alpine Bank, the City shall, during the Original Term and all Renewal Terms, make all payments of Base Rentals and Additional Rentals when due and shall not withhold any Base Rentals or Additional Rentals pending final resolution of such dispute (except to the extent permitted by Sections 7.02 and 8.02 hereof with respect to certain Additional Rentals), nor shall the City assert any right of set -off or counterclaim against its obligation to make such payments required hereunder. No action or inaction on the part of Alpine Bank shall affect the City's obligation to pay all Base Rentals and Additional Rentals (except to the extent provided by Sections 7.02 and 8.02 hereof with respect to certain Additional Rentals), during the Lease Term. Section 6.05. Expression of City's Need for the Leased Property. As of the date of this Lease, the City declares its current need for the Leased Property, that the leasing of the Leased Property is beneficial to the City, and that the Leased Property is necessary and essential to the City's purpose and operations. Section 6.06. Nonappropriation. In the event that the Council shall not specifically budget and appropriate, on or before the last day of each Fiscal Year, moneys to pay all Base Rentals and the reasonably estimated Additional Rentals coming due for the next ensuing Fiscal Year as provided in Section 4.01 hereof and this Article, an Event of Nonappropriation shall be deemed to have occurred, subject, however, to each of the following provisions: 13 4812 - 2161 -1294 9