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Resolution 3399
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Resolution 3399
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6/2/2017 11:27:00 AM
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Resolutions
Resolution Number
3399
Date
11/21/1990
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DRS462 <br /> specified, City may, upon thirty (30) days notice in writing to <br /> Lessor, terminate and cancel this Lease, and upon the giving of <br /> such notice, this Lease shall thenceforth be null and void. If <br /> Lessor defaults under that certain Construction Contract by and <br /> between Lessee and City of even date herewith and such default is <br /> not remedied within ten (10) days (or such other period of time <br /> as may be provided for by the Construction Contract) , then in <br /> addition to any other remedy granted hereunder and under the <br /> Construction Contract, City may terminate this Lease but only if <br /> such termination occurs on or before the Substantial Completion <br /> Date. <br /> 2 . 3 Bonding and Liens. Lessor shall furnish a surety or <br /> completion bond for the performance of the construction of the <br /> Improvements in an amount equal to the greater of full contract <br /> price or the full cost of such construction, and City shall be <br /> named as an obligee on such bond; Lessor shall pay and discharge <br /> any and all mechanics' , materialmen's or other liens against the <br /> Leased Premises claimed in respect to labor, services, materials, <br /> supplies or equipment furnished or alleged to have been furnished <br /> to or upon the request of Lessor. Notice is hereby given that <br /> City shall not be liable for any work performed or to be <br /> performed on the Leased Premises or the Improvements thereon, for <br /> Lessor, or for any materials furnished or to be furnished to the <br /> Leased Premises or the Improvements thereon for Lessor or any <br /> subtenant, and that no mechanic's or other lien for such work or <br /> materials shall attach to the leasehold interest of City. City <br /> shall have the right to enter upon the Leased Premises at any <br /> time for the purpose of posting such notice throughout the same <br /> and/or the Improvements, and such notice shall also be included <br /> in any Memorandum of Lease recorded. <br /> 2 . 4 Disclaimer. Notwithstanding any other provision of <br /> this Lease to the contrary, City is under no obligation to <br /> construct or supervise construction of the Improvements. It is <br /> understood and agreed that City's rights to accept the <br /> Improvements under this Lease are for the sole purpose of <br /> protecting its interest as tenant. City's approval of any plans <br /> and specifications, construction agreements, or service contracts <br /> for the Improvements shall not be construed by City as a guaranty <br /> of sufficiency of the work. City's right of inspection as <br /> provided in this Lease shall not constitute any representation or <br /> warranty, express or implied, or any obligation of City to insure <br /> that work or materials are in compliance with the plans and <br /> specifications or any building requirements imposed by a <br /> governmental agency. City is not responsible to the <br /> subcontractors under the Construction Contract or any other third <br /> parties for any purpose whatsoever. Lessor agrees to assign to <br /> City all rights under warranties, guaranties, and/or bonds <br /> relating to the repair, maintenance and/or condition of the <br /> Improvements to be built on the Leased Premises, and Lessor <br /> B-3 <br />
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