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Ordinance 1858-92
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Ordinance 1858-92
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Ordinances
Ordinance Number
1858-92
Date
2/12/1992
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4 . 2 Additional Rent. City and Lessor may agree that City <br /> shall be liable for Additional Rent for costs related to the take- <br /> out financing of the Improvements and other costs not otherwise <br /> included in the Lease Payments calculated pursuant to Section 4. 1 <br /> above. Such costs may include but are not limited to, trustee's <br /> fees pursuant to Section 4 .2.A. , Non-Capitalized Financing Costs, <br /> if any, and costs for which the City is liable pursuant to Section <br /> 6. 3 . Due to the contingent nature of such Additional Rent, it <br /> shall not constitute debt of the City for purposes of debt <br /> limitations established by RCW 39.36.020 and RCW 35.42.200 and <br /> The City shall have no obligation to pay Additional Rent prior to <br /> the Payment Obligation Commencement Date. <br /> 4 . 2.A. Compensation of Trustee. Upon any issuance of <br /> certificates of participation in Lessor's interests herein, any <br /> additional compensation owed the trustee/paying agent/registrar <br /> ("trustee") for its services not paid at the time of issuance of <br /> such certificates shall be an obligation of the City, acknowledged <br /> by the City's approval of the trust agreement governing issuance <br /> of such certificates. In addition to fees paid at the time of <br /> issuance of the certificates, such trustee shall be entitled to <br /> payment and/or reimbursement from the City for reasonable fees for <br /> its services rendered under such trust agreement, disbursements and <br /> all advances, counsel fees and other expenses reasonably and <br /> necessarily made or incurred by the trustee (including the <br /> reasonable compensation and the expenses and disbursements of its <br /> counsel and all persons not regularly in its employ) , in connection <br /> with such services hereunder and, in the event that it should <br /> become necessary that the trustee perform extraordinary services, <br /> it shall be entitled to reasonable extra compensation therefor from <br /> the City, and to reimbursement from the City for reasonable and <br /> necessary extraordinary expenses in connection therewith; provided, <br /> that if such extraordinary service is due to the willful misconduct <br /> or negligence cf the trustee, it shall not be entitled to <br /> compensation or reimbursement therefor. <br /> 4. 3 Quiet Enjoyment. Upon payment by City of the Lease <br /> Payments herein provided, and upon the observance and performance <br /> of the covenants, terms and conditions on the City's part to be <br /> observed and performed, Lessor covenants that City shall peaceably <br /> and quietly hold and enjoy the Leased Premises for the term hereby <br /> demised without hindrance or interruption by Lessor or any person <br /> or persons lawfully or equitably claiming by, through or under the <br /> Lessor. Lessor shall obtain a nondisturbance agreement in favor <br /> of the City from any lender or lienholder on the Leased Premises, <br /> prior to receipt of the first Lease Payment by City hereunder. <br /> 4 .4 Defeasance. In the event that money and/or "Government <br /> Obligations, " as such obligations are now or may hereafter be <br /> B-11 KR170 92/01/27 <br />
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