Ordinance 2015-1695 - Laserfiche WebLink

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(a) Alpine Bank shall declare an Event of Nonappropriation on any earlier date on which Alpine Bank receives specific written notice from the City that this Lease will be terminated. (b) Absent such notice from the City, Alpine Bank shall give written notice to the City of any Event of Nonappropriation, on or before the fifth day of the next following Fiscal Year; but any failure of Alpine Bank to give such written notice shall not prevent Alpine Bank from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to Alpine Bank. (c) Alpine Bank shall waive any Event of Nonappropriation which is cured by the City within a reasonable time. (d) Alpine Bank shall waive any Event of Nonappropriation which is cured by the City, within ten Business Days of the giving of notice by Alpine Bank as provided in (b) above, by inclusion in a duly enacted appropriation resolution, (i) by specific line item, amounts authorized and directed to be used to pay all Base Rentals and (ii) sufficient amounts to pay reasonably estimated Additional Rentals coming due for such Fiscal Year. In the event that during any Fiscal Year, any Additional Rentals shall become due which were not included in a duly enacted appropriation resolution then, in the event that moneys are not specifically budgeted and appropriated to pay such Additional Rentals within 45 days subsequent to the date upon which such Additional Rentals are due, an Event of Default under Section 13.01(c) shall be deemed to have occurred, upon notice by Alpine Bank to the City to such effect (subject to waiver by Alpine Bank as hereinbefore provided). Notwithstanding any provision to the contrary herein, if an Event of Nonappropriation occurs, the City's rights of possession of the Leased Property under this Lease shall terminate at the end of the last day of the Fiscal Year for which this Lease shall be in effect, and the City shall not be obligated to make payment of the Base Rentals, Additional Rentals or any other payments provided for herein which accrue after the end of the last day of the Fiscal Year for which this Lease shall be in effect; provided, however, that, subject to the limitations of Sections 6.01 and 13.03 hereof, the City shall continue to be liable for Base Rentals and Additional Rentals allocable to any period during which the City shall continue to occupy, use or retain possession of the Leased Property, beginning with the first day of the Fiscal Year in respect of which the Event of Nonappropriation occurs. The City shall in all events vacate or surrender possession of the Leased Property by the tenth Business Day of the Fiscal Year in respect of which the Event of Nonappropriation has occurred. After the tenth Business Day of the Fiscal Year in respect of which an Event of Nonappropriation has occurred, Alpine Bank may proceed to exercise all or any Lease Remedies. All property, funds and rights acquired by Alpine Bank upon the termination of this Lease by reason of an Event of Nonappropriation as provided herein, less any moneys due and owing to Alpine Bank, shall be held by Alpine Bank. 14 4812 - 2161 -1294 9