Agenda - 12-20-94 - Lease - Laserfiche WebLink

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(the "Deed of Trust") . Any judicial sale of, or foreclosure on, the Leased Property pursuant to the Deed of Trust shall terminate all the Board of Education's rights hereunder. ARTICLE IV LEASE TERM 4. 1 Commencement. The Lease Term shall commence on the Closing Date. 4.2 Termination. The Lease Term shall terminate upon the earlier of either of the following events: (a) the termination of the Installment Purchase Contract; or (b) an Event of Default and termination by the County pursuant to Article XII. Termination of the Lease Term shall terminate the County's obligations under this Lease and the Board of Education's rights of possession under this Lease, but all other provisions of this Lease, including those relating to the receipt and disbursement of funds, shall be continuing until the Installment Purchase Contract is discharged as provided therein. ARTICLE V QUIET ENJOYMENT; PURCHASE OPTION 5. 1 Quiet Enjoyment. The County hereby covenants that the Board of Education shall, during the Lease Term, peaceably and quietly have and hold and enjoy the Leased Property without suit, trouble or hindrance from the County, except as expressly required or permitted by this Lease. The County shall not interfere with the quiet use and enjoyment of the Leased Property during the Lease Term. The County shall, at the Board of Education's request and the County's cost, join and cooperate fully in any legal action in which the Board of Education asserts its right to such possession and enjoyment, or which involves the imposition of any taxes or other governmental charges on or in connection with the Leased Property. In addition, the Board of Education may at its own expense join in any legal action affecting its possession and enjoyment of the Leased Property, and shall be joined (to the extent legally possible, and at the Board of Education's expense) in any action affecting its liabilities hereunder. BWNY/133845.2115880/00013/1537 December 14, 1994 4