Resolution 2010-76 - Laserfiche WebLink

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permissible scope of Lessee's authority. (g) During the period this Lease is in force, Lessee will annually provide Lessor with current financial statements, budgets, proof of appropriation for the ensuing Fiscal Year and such other financial information relating to the ability of the Lessee to continue this Lease as may be requested by the Lessor or its assigns. (h) The Lease, including without limitation the Rental Payments, does not require advance voter approval under Article X, Section 20 of the Colorado Constitution. Lessor represents, covenants and warrants for the benefit of Lessee as follows: (a) Lessor has full legal authority to enter into this Lease and the transaction contemplated hereby and to perform all of its obligations hereunder. (b) The execution and delivery of this Lease and the consummation " of the transactions herein contemplated will not materially conflict with or constitute a material breach of or default under any contract to which the Lessor is a party or by which it is bound. (c) The Lessor has duly authorized by proper action its execution, delivery, observance and performance of this Lease. (d) Assuming the due authorization, execution and delivery thereof by the Lessee, this Lease and all instruments and documents contemplated in this Lease, which are executed and delivered by the Lessor constitute and will constitute legal, valid, binding and enforceable obligations or representations, as the case may be, of the Lessor, except as the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the rights of creditors generally and except to the extent that the enforceability thereof may be affected by general legal rules of equity. ARTICLE III . LEASE OF EQUIPMENT Lessor hereby demises, leases and lets to Lessee, and Lessee rents, leases and hires from Lessor, the Equipment in accordance with the provisions of this Lease, to have and to hold for the Lease Term. ARTICLE IV LEASE TERM Section 4.01. Commencement of Lease Term. The Original Term of this Lease shall commence on the Commencement Date as indicated in Schedule B and shall terminate at 12:00 midnight of the last day of Lessee's current Fiscal Year. The Lease Term may be continued solely at the option of Lessee to the First Renewal Term for an additional one (1) year, upon Lessee including the obligation to make the payment set forth in Schedule B in its budget for the applicable Fiscal Year. The Lease Term may be continued solely at the option of Lessee for such additional Renewal Terms, each of one (1) year duration, as would be required to make all Rental Payments set forth in Schedule B in the same manner. The option to continue this Lease shall not be construed to create a multiple Fiscal Year direct or indirect debt or other financial obligation. 3