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79005189
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Last modified
1/13/2010 3:45:03 AM
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1/13/2010 3:44:28 AM
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DEEDS
Inst Number
79005189
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<br /> <br />A.R'I'I~LE; II <br />n~+~ <br />Section 2.1 Lessee shall pay to the Lessor basic <br />rent during the basic term in the amounts and on or prior to <br />the date set forth ir. Exhibit "E" hereto attached and made a <br />part hereof. If at any time the amount in the Bond Pond and <br />the Debt Service Reserve Fund shall have become sufficient to pay <br />in full the principal of and premium, if any, and interest on all <br />the outstanding Bonds issued pursuant to the ~tesolution, either <br />at maturity or on earlier redemption, then no further basic ren*_ <br />shall be payable hereunder during the basic term. <br />Section 2.2 Lessee shall pay as additional rent (a) <br />the fees and expenses of the Trustee, as provided in the Resolu- <br />'Lion, at least Seffiiannuaily or aitFii2aliy as 5tatetiieritS are ren° <br />dered by said Trustee and furnished to Lessee, and (b) all <br />Impositions (as defined in Section 6.1 hereof), costs, expenses, <br />liabilities, obligations and other payments of whatever nature <br />which Lessee has agreed to pay or assume under the provisions <br />of this Lease Agreement, (c) in the event that after January 1, 1980, <br />there shall be less than the minimum balance of X25,000 in the <br />Debt Service Reserve Fund as required to be maintained under Section <br />5.2 of the Resolution, Lessee agrees to pay or cause to be paid <br />forthwith and directly to the Trustee an amount sufficient to <br />increase the moneys held in the Debt Service F,eserve Fund to <br />' the minimum balance required under said section 5. 2. If at <br />any time any amount paid by Lessee to Lessor or the ^ruste~ as <br />additional rent is or becomes in excess of the amount required <br />for the purpose for which it was paid, such excess amount shall <br />be refunded to the Lessee. <br />Section 2.3 All payments of basic rent and additional <br />rent shall be made by Lessee on or before the date the same <br />-shall become due, without notice or demand, and without abatement <br />or set-off, irrespective of any of the followings <br />{a} The taking by eminent domain of title to all <br />or part of the Project, or the taking by <br />eminent domain of the right of temporary <br />use of all or part of the Project, <br />-4- <br />
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