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79005189
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Last modified
1/13/2010 3:45:03 AM
Creation date
1/13/2010 3:44:28 AM
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DEEDS
Inst Number
79005189
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~~~.~ <br />ARTICLE V <br />( IMPOSITIONS <br />Section 5.1 Lessee shall, during the life of this <br />Agreement, bear, pay ann discharge or cause to be borne, paid <br />and discharged, before the delinquency thereof, alI taxes and <br />assessments, general and special, if any, which may be lawfully <br />taxed, charged, levied, assessed or imposed upon or aaa?_nst or <br />be payable for or in respect of the Revenues cr the Project, or <br />any part thereof, or any improvements at any time thereon or <br />Lessee's interest in the Project under this Agreement, including <br />any new lawful taxes and assessments not of the kind enumerated <br />above to the extent that the same are lawfully made, levied or <br />assessed in lieu of or in addition to taxes or assessments now <br />customarily levied against real property, and further including <br />all water and sewer charges, assessments and other governmental <br />charges and impositions whatsoever, foreseen or unforeseen, which <br />if not paid when due would encumber Authority's interest in the <br />Project (all of the foregoing being herein referred to as "Imposi- <br />tions"). Any Impositions due and payable prior to the time <br />- Authority acquired its interest in the Project shah be paid (or <br />- caused to be paid) in full by Lessee, and in the event any special <br />assessment taxes are levied and assessed which may be paid in <br />installments, Lessee shall be required to pay only such install- <br />- meats thereof as become due and payable during the life of this <br />Lease Agreement as and when the same become due and payable. <br />Authority covenants that without Lessee's written consent it will <br />not unless required by law, take any action which may reasonably <br />be construed as tending to cause or induce the levying or assess- <br />ments of any Imposition (other than special assessments levied on <br />account of special benefits) which Lessee would be required to <br />pay (or cause to be paid) under this Article and that should anv <br />such levy or assessment be threatened or occur Authority shall, <br />at Lessee's request, fully cooperate with Lessee in all reasonable <br />ways fio,prevent nay rueh levy or assessment. Lessee shall furnish <br />to the. Trustee and Authority evidence of payment of any Imposition <br />agora request. <br />-14- <br />
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