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07-C Genealogical Soc Sublease
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07-C Genealogical Soc Sublease
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Last modified
11/8/2005 11:25:11 AM
Creation date
2/6/2003 4:24:41 PM
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Template:
AGENDA
Item Number
7C
AGENDA - Type
RESOLUTION
Description
Sublease between Chamber & Genealogical Society
AGENDA - Date
2/10/2003
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under this Sub-Lease. <br /> <br /> A. Failure of SUB-LES SEE to comply with any term, condition, or covenant of this Sub- <br /> Lease, and such failure shall not be cured within thirty (30) days after written notice <br /> thereof to SUB-LESSEE. <br /> <br /> B. Insolvency, the making of a transfer in fraud of creditors, or the making of an <br /> assignment for the benefit of creditors by SUB-LESSEE or any guarantor of SUB- <br /> LESSEE's obligations. <br /> <br /> C. Filing of a petition under any section or chapter of the National Bankruptcy Act, as <br /> amended, or under any similar law or statute of the United States or any State thereof <br /> by SUB-LESSEE or any guarantor of SUB-LESSEE's obligations, or adjudication <br /> as a bankrupt or insolvent in proceedings filed against SUB-LESSEE or such <br /> guarantor. <br /> <br /> D. Appointment of a receiver or trustee for all or substantially all of the assets of SUB- <br /> LESSEE or any guarantor of SUB-LESSEE's obligations. <br /> <br /> E. Abandonment by SUB-LESSEE of any substantial portion of the Sub-Leased <br /> Premises or cessation of use of the Sub-Leased Premises for the purposes sub-leased. <br /> <br /> F. The filing of any lien against the Sub-Leased Premises resulting from any act or <br /> omission of SUB-LESSEE which is not discharged or contested in good faith as <br /> determined by SUB-LESSOR or the City by proper legal proceedings within fifteen <br /> (15) days of receipt of actual notice by SUB-LESSEE, unless SUB-LESSEE posts <br /> a bond within this time period equal to the amount of the lien. <br /> <br /> In the event of any default by the SUB-LESSEE that is not cured within thirty (30) days of <br />receiving notice from SUB-LESSOR or the City, SUB-LESSOR or the City may, in addition to any <br />other remedies available to it, terminate this Sub-Lease. <br /> <br /> In addition to the termination and forfeiture right described in the preceding paragraph, SUB- <br />LESSOR and the City shall have the following rights and remedies upon default by SUB-LESSEE: <br /> <br /> A. The recovery of any damages, costs, fees, and expenses incurred by SUB-LESSOR <br /> <br />Lamar County Genealogical Society Sub-Lease Page - 7 <br /> <br /> <br />
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