2. SR 05-14-2007 - Laserfiche WebLink

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the award for the portion of the Facilities taken. To the extent permissible under the Bond Resolution and with an Opinion of Counsel by Bond Counsel that such action would not impair the tax-exempt status of the Bonds, Lessor shall apply its share of any award for partial taking of the Facilities to partially redeem or defease the Bonds. Prior to the Maturity Date, there shall be no credit or adjustment in Basic Rent or Additional Rent because of any partial condemnation, except to the extent that debt service on the Bonds is reduced by partial redemption or defeasance. From and after the Maturity Date, Basic Rent and Additional Rent shall be reduced in proportion to the reduction in the estimated market value of the Proj ect. Section 8.04. Substantiallv All. Substantially all of the Building shall be deemed to have been taken if Lessee, in its sole discretion, determines that following the taking, it is not financially or operationally feasible to continue providing its programs and services in the Building. ARTICLE IX EQUIPMENT Section 9.01. mstallation of Eauipment. Lessee may, from time to time in its discretion and at its own cost and expense, install or place Lessee Equipment and other tangible personal propertY in the Building and (with prior written consent of Lessor) outside the Building on the Land. Lessor, at the direction of Lessee, will install the Equipment in the Building. Only the Equipment in the Building is subject to Lessor's rights under this Lease, and Lessee Equipment, unless it replaces Equipment, is not subject to Lessor's rights under this Lease. m the event that a lessor, vendor or purchase money lender (other than Lessor) installs any Lessee Equipment in the Building, Lessee shall cause any damage resulting to the Project therefrom to be repaired and the Project to be restored to its previous condition. Section 9.02. Removal of Eauioment. If no default by Lessee exists under this Lease, Lessee shall have the right to remove Equipment from the Project and have the Equipment released from the terms of this Lease as follows: (a) Subject to the terms and conditions of Section 4.06(b) hereof, Lessee shall have the privilege from time to time, and at its own cost, in the ordinary course of business of substituting equipment and related property for any Equipment constituting a part of the Project, provided that such substitution shall not impair the value, character, utility or revenue producing significance of the Project or change the nature of the equipment substituted. Any such substituted or replacement propertY, including Lessee Equipment, shall become Equipment subject to the terms of this Lease in place of the replaced equipment until the Maturity Date, at which time the same shall become or again be Lessee Equipment. (b) Lessee shall also have the privilege in the ordinary course of business of removing any Equipment from the Building prior to the Maturity Date without substitution therefor if the same is obsolete and no longer used or useful in the operation of the Project; provided that Lessee pays a sum[equal to the then value of said Equipment as determined by an Independent Engineer selected by Lessee. Lessee shall pay such amounts to Lessor for deposit in the Bond Fund established pursuant to the Bond 23