Agenda - 01-24-2006-8a - Laserfiche WebLink

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a5 4.16. Taxes and Other Governmental Charges. The County shall pay, as Additional Payments, the full amount of all taxes, assessments and other governmental charges lawfully made by any governmental body during the term of this Agreement. With respect to special assessments or other governmental charges which may be lawfully paid in installments over a period of years, the County shall be obligated to provide for Additional Payments only for such installments as are required to be paid during the Agreement term. The County shall not allow any liens for taxes, assessments or governmental charges with respect to the Mortgaged Property or any portion thereof to become delinquent (including, without limitation, any taxes levied upon the Mortgaged Property or any portion thereof which, if not paid, will become a charge on any interest in the Mortgaged Property, including Sellers' interest, or the rentals and revenues derived therefrom or hereunder). 4.17. Property Damage Insurance. The County will, at its own expense, acquire, carry and maintain broad-form extended coverage property damage insurance with respect to the Facility in an amount equal to such Facility's estimated replacement cost. Such property damage insurance must include the Sellers as loss payees. 4.13. Sellers' Advances for Performance of County's Obligations. If the County fails to perform any of its obligations under this Agreement, Sellers are hereby authorized, but not obligated, to perform such obligation or cause it to be performed. All expenditures incurred by Sellers (including any advancement of funds for payment of taxes, insurance premiums or other costs of maintaining the Mortgaged Property, and any associated legal or other expenses), together with interest thereon at the Prime Rate, shall be secured as Additional Payments under this Agreement. The County promises to pay all such amounts to Sellers immediately upon demand. ARTICLE V CARE AND USE OF MORTGAGED PROPERTY 5.03. Maintenance and Repairs; Additions. (a) The County shall keep the Mortgaged Property in good order and repair (reasonable wear and tear excepted) and in good operating condition, shall not commit or permit any waste or any other thing to occur whereby the value or usefulness of the Mortgaged Property might be impaired, and shall make from time to time all necessary or appropriate repairs, replacements and renewals. (b) The County may, also at its own expense, make from time to time any additions, modifications or improvements to the Mortgaged Property that it may deem desirable for its governmental or proprietary purposes and that do not materially impair 9 finagreemttweeter