RES 94044 - Laserfiche WebLink

officers and employees shall not be liable to the City or to any other party whomsoever for any death, injury or damage that may result to any person or property by or from any cause whatsoever in, on, or about or relating to the Project, and in no event shall the Authority be liable for any incidental, indirect, special or consequential damage in connection herewith or arising hereunder. Section 2.04. Disclaimer of the Authority. The City acknowledges and agrees that the Authority makes no representation or warranty, express or implied, as to the Project, except as expressly set forth in this Installment Purchase Contract. The City acknowledges that all risks relating to the Project or the transactions contemplated hereby or by the Conveyance Agreement or the Trust ' Agreement, are to be bome by the City, and the benefits of any and all implied warranties and representations of the Authority are hereby waived by the City. ARTICLE III INSTALLMENT PAYMENTS, REVENUES AND ACCOUNTS Section 3.01. Payment of the Installment Payments. The total principal amount of the Installment Payments owed and to be paid by the City to the Authority hereunder for the Acquisition of the Project is $ , plus (A) the amounts, if any, required to be paid hereunder to replenish the Reserve Fund, and (B) all amounts, if any, required to be paid by the Authority under the Trust Agreement. The Installment Payments and interest thereon shall, subject to any rights of prepayment of the City provided in Article VI, be due in installments in the amounts and on the dates described in Exhibit B attached hereto and in Section 4.01 hereof. Each Installment Payment, and the interest thereon, shall be payable to the Authority in accordance with the terms hereof and at the times required by Section 4.01 hereof in lawful money of the United States of America. In the event the City fails to make any of the payments required to be made by it under this Section 3.01, such payment shall continue as an obligation of the City until such amount shall have been fully paid and the City agrees to pay the same with the stated interest thereon at the rate set forth in Exhibit B hereto. In the event an Installment Payment and the interest thereon is insufficient, due to investment losses incurred while on deposit in the Installment Payment Fund or for any other reason, the City shall immediately pay to the Trustee upon notice therefrom additional amounts to cure such insufficiency. The obligation of the City to make the Installment Payments and to pay the interest thereon is absolute and unconditional, whether or not the Project shall be acquired, and until such time as all Installment Payments and the interest thereon shall have been fully paid and the Bonds are no longer Outstanding (or provision for the payment thereof shall have 7 9406701W.LAI