RES 94045A - Laserfiche WebLink

entitle the Authority to exercise any remedy reserved to it in this Article, it shall not be necessary to give any notice, other than such notice as may be required in this Article or by law. Section 804. Agreement to Pay Attorneys' Fees and Expenses. In the event that the City, the Authority or the Trustee (as assignee of the Authority) should default under any of the provisions of the Lease Agreement and the nondefaulting party(s) should employ attorneys or incur other expenses for the collection of moneys or the enforcement or performance or observance of any obligation or agreement on the part of the defaulting party(s) herein contained, the defaulting party agrees that it will on demand therefor pay to the nondefaulting party(s) the reasonable fees of such attomeys and such other expenses so incurred by the nondefaulting party(s). Section 805. No Additional Waiver Implied by One Waiver. In the event any covenant contained in the Lease Agreement should be breached by either party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach under the Lease Agreement. ARTICLE IX OPTION TO PREPAY Section 901. Prepayment Option. The City shall have the option to prepay its Lease Payments, in whole or in part, on or after May 1, ~ but only if it is not then in default underSection 801(1) (iii) hereof only in the manner provided in this Article. Section 902. Exercise of Option. The City may exercise its option to prepay its Lease Payments due on or after May 1, ~ on any May 1 or November 1, commencing May 1, ~ by prepaying an amount equal to the amount set forth in Section 904 hereof, plus accmed interest on such principal portion to the applicable May 1 or November 1 set for redemption of the Bonds. Such prepayment price shall be deposited by the Trustee in the City's Payment Fund to be applied to the redemption of Bonds pursuant to Section 512 of the Tmst Agreement. The City shall give the Authority and the Trustee notice of its intention to exercise its option and shall deposit with [he Trustee on the date which is at least forty-five (45) days or more prior to said May 1 or November 1, an amount equal to [he unpaid principal amount of Lease Payments, plus the premium, if any, plus accrued interest on such principal portion of Lease Payments to such May I or November 1. If the City exercises its option to prepay its Lease Payments in whole pursuant to this Section, any amount then on hand in the Reserve Fund, the Payment 19 sao~sotu.cn~