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200905599
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Last modified
7/9/2009 4:52:05 PM
Creation date
7/9/2009 4:46:46 PM
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DEEDS
Inst Number
200905599
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Y <br />2U09U5599 <br />"Any rights hereunder shall in all events be subject to the requirements of <br />that Lease Purchase Agreement dated October 9, 2001 (the "Original <br />Agreement"), by and between the City and Heartland, as amended and <br />supplemented by that Addendum to Lease Purchase Agreement dated <br />August 26, 2003 (the "First Addendum") by and between said parties, as <br />further amended and supplemented by that Second Addendum to Lease <br />Purchase Agreement dated as of December 1, 2004 (the "Second <br />Addendum" and collectively, with the Original Agreement and the First <br />Addendum, the "Agreement"), including, but not limited to, requirements <br />for cancellation under Rev. Froc. 82-26 and, specifically, the requirement <br />that the City have the right to obtain unencumbered fee title to the Project <br />(including additions thereto) and exclusive possession of the Froject." <br />Heartland is one and the same as Event Center, the Agreement is one and the same as the <br />City Agreement, and the Froject is one and the same as the Event Center Property and all <br />buildings and structures located thereon. Under the terms of the Management Contract <br />and the City Agreement, the City hereby consents to the terms of this Lease. In entering <br />into this Lease, the City with respect to the City Property and the City Improvements (as <br />hereinafter defined), the City is acting under the terms of the Wells Fargo Agreement. <br />The terms and conditions of the Wells Fargo Agreement provide that, upon default by the <br />City in performance of such terms and conditions, the City may be deprived of its rights <br />to possession of the City Property and the City Improvements and Wells Fargo may sell, <br />lease or otherwise dispose of the City Property and the City Improvements in order to <br />satisfy unpaid obligations of the City under the Wells Fargo Agreement. The Parties <br />hereto acknowledge the rights and remedies of Wells Fargo as provided in the Wells <br />Fargo Agreement and that this Lease is subject to the terms and conditions of the Wells <br />Fargo Agreement with respect to the City Property and the City Improvements. The City <br />hereby agrees to obtain written approval of this Lease from Wells Fargo and hereby <br />undertakes and agrees to perform the terms and conditions of the Wells Fargo Agreement <br />(specifically including each and all of the requirements for the making of rental <br />payments) in such manner as to preserve and protect the rights of Lessee under the terms <br />of this Lease. <br />2. Contin eg ncies. The abligations of the Parties, possession of the Leased Premises and <br />construction of "Improvements" (as hereinafter defined) are contingent on satisfaction <br />of those conditions set forth in Neb. Rev. Stat. § 2-113 which are required to be satisfied <br />on or before July 1, 2009. In the event that such conditions are not satisfied by such date, <br />this Lease shall be automatically terminated and the Parties shall have no further <br />obligation or liability hereunder. <br />_3_ <br />
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