RES 94044 - Laserfiche WebLink

Contract, as the case may be), for the purpose of acquiring and constructing such improvements to the Enterprise on file with the City. Notwithstanding the foregoing provisions, there shall be no limitations on the ability of the City to execute any Contract or to issue any Parity Bonds at any time (i) to finance the completion of any uncompleted improvements to the Enterprise, or (ii) to refund any outstanding Bonds, Parity Bonds or any outstanding Contract. ARTICLE V . REPRESENTATIONS, COVENANTS AND WARRANTIES Section 5.01. Compliance with Installment Purchase Contract. ' The City will punctually pay the Installment Payments and the interest thereon in strict conformity with the terms hereof, and will faithfully observe and perform all the agreements, conditions, covenants and terms contained herein required to be observed and performed by it, and will not terminate this Installment Purchase Contract for any cause whatsoever, including, without limiting the generality of the foregoing, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, condemnation of the Project by any governmental entity, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of California or any political subdivision of either or any failure of the Authority to observe or perform any agreement, condition, covenant or term required to be observed and performed by it contained herein, whether express or implied, or any duty, liability or obligation arising out of or connected with this Installment Purchase Contract. The City will faithfully observe and perform all the agreements, conditions, covenants and terms contained in the Trust Agreement required to be observed and performed by it, and it is expressly understood and agreed by and among the parties to this Installment Purchase Contract and the Trust Agreement that each of the agreements, conditions, covenants and terms contained in the Trust Agreement and this Installment Purchase Contract is an essential and material term of the purchase of and any payment for the Project by the City. The City will faithfully observe and perform all the agreements, conditions, covenants and terms required to be observed and performed by it pursuant to all outstanding Contracts and Bonds as such may from time to time be amended. Section 5.02. Against Encumbrances. The City hereby covenants that there is no pledge of or lien on Net Revenues senior to the pledge and lien securing the Installment Payments. The City will not make any 12 9406701W.LA l