Agenda - 03-02-2006-8bCC - Laserfiche WebLink

Browse Search

other purpose unless required by law. The County will be solely responsible for the operation of the Pledged Facilit}j, and will not contract ujith any other person or entity for such operation; provided, however, that the County may lease the Pledged Facility to the School Board, or may otherwise provide for the School Board's use of the Pledged Facility, but no such lease or other arrangement uTill have any affect on the County's obligations under this Agreement. 4.7. Modification of Pledged Facility; Installation of Equipment and Machinery. The County has the right to remodel the Pledged Facility or make substitutions, additions, modifications and improvements to the Pledged Facility, at its awn cost and expense; provided, however, that such substitutions, additions, modifications and improvements swill not in any way damage the Pledged Facility or result in the use of the Pledged Facility for purposes substantially different from those initially proposed; and provided further that the Pledged Facility, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, will be of a value not less than the value of the Pledged Facility immediately prior to such making of substitutions, additions, modifications and improvements. The County may also, from time to time in its sole discretion and at its own expense, install machinery, equipment and other tangible property in or on the Pledged Facility. All such property will remain the County's sole property in v~Thich neither the Company nor any assignee of the Company swill have any interest; provided, houTever, that any such property which becomes permanently affixed to the Pledged Facility will be subject to this Contract and the lien and security interest arising under the Deed of Trust if the Company will reasonably determine that the Pledged Facility would be damaged or impaired by the removal of such machinery, equipment or other tangible property. 4.8. Taxes and Other Go~-ernmental Charges. If the Mortgaged Property or any portion thereof is, for any reason, deemed subject to taxation, assessments or charges lawfully made by any governmental body, the County will, during the Contract term, pay the amount of all such taxes, assessments and goverrunental charges as Additional Payments. With respect to special assessments or other governmental charges which may be lawfully paid in installments over a period of years, the County swill be obligated to provide for Additional Payments only for such installments as are required to be paid during the Contract term. The County must 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 93361d' ~)