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200412247 <br />City of Grand Island Former Park Exposition and Events Center, Inc. <br />Attn: -Mayor P.O. Registered .gent <br />P.O. Box l 968 P.O. Box 490 <br />100 East First Street 700 East Stoney Park Road <br />Grand Island, NE 68802 -1968 Grand Island, NE 68802 <br />MU %01 ".1 _*a11(!- :r.:nu.com fonnetparkC.aol.com <br />25. ASSIGNNIENT. The City agrees that it will not assign its rights under this <br />Agreement prior to the Commencement Date and that thereafter it shall not assign its rights so <br />long as any of the Building Bonds remain outstanding. The City acknowledges and agrees that <br />Heartland shall assign the right to receive basic rent to the Trustee to order to provide for the <br />payments of principal and interest on the Building Bonds. Such assignment shall be absolute and <br />unconditional. Heartland may assign any other of its rights under this agreement and any related <br />documents to another nonprofit corporation which is also an organization exempt from federal <br />income taxation under Section 501(a) and Section 501(c)(3) of the Code only upon approval of the <br />assignment by the City and the Trustee. No such assignment by any party shall relieve the <br />assignor of any of its duties and responsibilities under this Agreement or any related documents <br />and the assignor shall remain primarily responsible and as fully bound as though no assignment <br />had been made. Performance by an assignee shall be considered as performance pro tanto by the <br />assignor. Consent to any proposed assignment permitted under the terms of this Paragraph 25. by <br />a party shall not be unreasonably withheld by the other party or the Trustee. <br />The parties covenant that neither will make an assignment of any interest in the Project <br />which would have the effect of causing the interest on the Building Bonds to be includable in <br />gross income under the Code. <br />26. SUBLEASES. Except to the extent that parts of the Project are used by exhibi- <br />tors, licensees, concessionaires and users of the Project under the management contract with <br />Heartland in the ordinary course of business of the operation of the Project, the City covenants <br />that it will not sublet any part of the Project without approval of the sublease by Heartland and <br />the Trustee; provided, that no such sublease shall relieve either party of any of its duties and <br />responsibilities under this Agreement or associated documents and the City shall remain primar- <br />ily responsible and fully bound as though no sublease had been made, provided that in no event <br />shall basic rent due hereunder be payable from any source other than general taxes as provided in <br />Paragraph 9. of this Agreement. Consent to any proposed sublease permitted under the terms of <br />this Paragraph 26. by the City shall not be unreasonably withheld by Heartland or the Trustee. <br />The City covenants that it will not make any sublease of any part of the Project which would <br />have the effect of causing the interest on the Building Bonds to be includable in gross income <br />under the Code. <br />2;. CONDEMNATION OF PROJECT. During the term of this Agreement, if any <br />part of the Project shall be taken by exercise of the right of eminent domain by any entity having <br />such authority under federal or state law, and if in the mutual opinion of the City and Heartland, <br />Utilization of the Project is not impaired by such taking, neither the terms of this Agreement or <br />the duties or responsibilities of the parties, individually or jointly, shall be reduced or affected in <br />ire <br />