RES 87418 - Laserfiche WebLink

Written Request of the Corporation, with the approval of the City Manager of the City, or the Director of Finance of the City, or a duly authorized representative of the City, endorsed thereon, in making any determination that costs are payable as Additional Rental hereunder, and shall not be required to make any investigation as to whether or not the items so requested to be paid are expenses of operation of Capital Projects I and II. Such payments of Base Rental and Additional Rental for each rental payment period during the term of this Lease shall constitute the total rental for said rental payment period, and shall be paid by the City in each rental payment period for and in consideration of the right of use and occupancy of, and continued quiet use and enjoyment of, the Demised Premises, Capital Project II and, following completion of construction, Capital Project I during each such period for which said rental is to be paid. The parties hereto have agreed and determined that such total rental payable for each twelve-month period beginning March 1 represents the fair rental value of the Demised Premises and Capital Projects I and II for each such period. In making such determination, consideration has been given to cost of acquisition, design, construction and financing of Capital Projects I and II, other obligations of the parties under this Lease, the uses and purposes which may be served by Capital Projects I and II and the benefits therefrom which will accrue to the City and the general public. Each installment of rental payable hereunder shall be paid in lawful money of the United States of America to or upon the order of the Corporation at the principal corporate trust office of the Trustee in San Francisco, California, or such other place as the Corporation shall designate. Any such installment of rental accruing hereunder which shall not be paid when due shall bear interest at the rate of twelve percent (12%) per annum, or such lesser rate of interest as may be required by law, from the date when the same is due hereunder until the same shall be paid. Notwithstanding any dispute between the Corporation and the City, the City shall make all rental payments when due without deduction or offset of any kind and shall not withhold any rental payments pending the final resolution of such dispute. In the event of a determination that the City was not liable for said rental payments or any portion thereof, said payments or excess of payments, as the case may be, shall, at the option of the City, be credited against subsequent rental payments due hereunder or be refunded at the time of such determination. The City covenants to take such action as may be necessary to include all such rental payments due hereunder in F-8 1456S