2018/08/08 Council Agenda Packet

n The infoluiation and data described above shall be provided on or before nine months after the end of the City's fiscal year. The City's current fiscal year ends December 31. The City may adjust such fiscal year by providing written notice of the change of fiscal year to the MSRB. In lieu of providing such annual financial information and operating data, the City may cross-refer to other documents available to the public on the MSRB's internet website or filed with the Commission. If not provided as part of the annual financial information discussed above, the City shall provide promptly the City's audited annual financial statement prepared in accordance with the Budget Accounting and Reporting System prescribed by the Washington State Auditor pursuant to RCW 43.09.200 (or any successor statute)when and if available to the MSRB. The City's obligations under this undertaking shall terminate upon the legal defeasance of all of the 2018 Bonds. In addition, the City's obligations under this undertaking shall terminate if those provisions of the Rule which require the City to comply with this undertaking become legally inapplicable in respect of the 2018 Bonds for any reason, as confirmed by an opinion of nationally recognized bond counsel or other counsel familiar with federal securities laws delivered to the City and the District, and the District provides timely notice of such termination to the MSRB. Section 4.09. Amendment to Ground Lease. The District and the City hereby agree that an amendment to Section 1.2 of the Ground Lease, dated February 28, 2002, between the City and District (the "Original Ground Lease") should be made in order to extend the permitted "Lease Term" (as defined in the Original Ground Lease) for an additional five (5)-year period. The parties agree that such amendment will be executed and delivered on or prior to the execution of this Agreement. ARTICLE V Remedies Upon Default Section 5.01. Remedies on Default. Upon the occurrence of a default by the District in its obligations hereunder, the City may proceed to protect and enforce its rights in equity or at law, either in mandamus or for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, as the City may deem most effectual to protect and enforce any of its rights or interests hereunder. Upon the occurrence of a default by the City in its obligations to the District hereunder, the District may proceed to protect and enforce its rights in equity or at law, either in mandamus or for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, as the District may deem most effectual to protect and enforce any of its rights or interests hereunder. Section 5.02. No Remedy Exclusive. No remedy conferred upon or reserved to either party by this Agreement is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute, -19- 501534419 v3 67