Agenda 04/27/1999 - Laserfiche WebLink

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the Lessee or result in any breach of, or constitute a default under, any indenture, mortgage, deed. of trust, bond, loan or credit agreement or other instrument to-which the Lessee is a party or by which it is bound. There are no actions, suits or proceedings pending or, to the knowledge of the Lessee, threatened against or affecting the Lessee in any court or before any governmental commission, board or authority which, if adversely determined, would have a material adverse effect on the ability of the Lessee to perform its obligations hereunder. The Equipment is essential to and will be used only for the purpose of performing one or more governmental functions of the Lessee consistent with the scope of the Lessee's authority and will not be used in a trade or business of any person or entity. The Lessee shall execute and deliver to Lessor an Essential Use Certificate. in form and substance reasonably satisfactory to the Lessor. The Equipment is, and shall remain during the term of this Agreement, personal property. The Lessee will promptly and duly execute and deliver to the Lessor such further documents, instruments and assurances and take such further action as the Lessor may from time to time reasonably request in order to carry out the intent and purpose of this Agreement and to establish and protect the fights and remedies created or intended to be created in favor of the Lessor hereunder. The aggregate amount of the rental payments due under this Agreement during the current fiscal year of the Lessee have been, and are, included in the Lessee's budget for such fiscal year for which an appropriation has been made by the Board of Supervisors. 9. WARRANTIES AND REPRESENTATIONS OF THE LESSOR The Lessor warrants and represents to the Lessee as follows, which- representations and warranties shall be continuing. Lessor is a financial institution duly incorporated, qualified to do business and in good standing in the Commonwealth of Virginia and is duly authorized to enter into the transactions contemplated by this Agreement and to carry out its obligations hereunder. The Lessor has full power and authority to enter into this Agreement and all other documents relating thereto and the performance of the Lessor's obligations hereunder have been duly and validly authorized, executed and delivered by the Lessor and approved under all laws, regulations and procedures applicable to Lessor and this Agreement constitutes a valid, legal and binding obligation of the Lessor, enforceable in accordance with its terms. 10