11-25-1991 HRA Meeting - Laserfiche WebLink

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Hr L: tv F'I"' i i i, V? ARTICLE VII MAINTENANCE; TAXES; INSURANCE; AND OTHER MATlc; - 7.1. tjiijatfijQAa£fi_juiUw6to£liJlifiaLiQIl-Q£—2XDi£ClL-tLX riry. From and after the Completion Date City shall, at its own expense, maintain, preserve and keep the Project in good repair, working order and condition, and shall from time to time make ail repairs, replacements and improvements necessary to keep the Project in such condition. Authority shall have no responsibility for any of these repairs, replacements or improvements. In addition, City shall, at its own expense, have the right to remodel the Project or to make additions, modifications and in^rovements thereto. All such additions, modifications and improvements shall thereafter comprise part of the Project, shall be the property of Authority and be subject to the provisions of this Lease. Such additions, modifications and improvements shall not in any way damage the Project nor cause them to be used for purposes other than those authorized under the provisions of State and Federal Law; and the Project, upon completion of any additions, modifications and improvements made pursuant to this Section, shall be of a value not less than the value of the Project immediately prior to the making of such additions, modifications and improvements. City will not permit any mechanic’s or other lien to be established or remain against the Project for labor or materials furnished in connection with any remodeling, additions, modifications, improvements, repairs, renewals or replacements made by City pursuant to this Section; provided that if any such lien is established and City shall first notify Authority of City's intention to do so. City may in good faith contest any lien filed or established against the Project, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom unless Authority shall notify City that, in the opinion of Independent Counsel, by nonpayment of any such item the interest of Authority in the Project will be materially endangered or the Project or any part thereof will be subject to loss or forfeiture, in which event City shall promptly pay and cause to be satisfied and discharged all such unpaid items or provide Authority with full security against any such loss or forfeiture, in form satisfactory to Authority. Authority will cooperate fully with City in any such contest, upon the request and at the expense of City. Section 7.2. Tax(Othi utilitY Chargaa. City Shall also pay when due all gas, water, steam, electricity, heat, power, telephone, and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Project. City shall also pay all property and excise taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Project, which become due during the Term of the Lease, and all 7-1