Agenda 04/27/1999 - Laserfiche WebLink

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Terminate this Agreement as to all or any part of the Equipment and use, operatd, lease or .hold the Equipment as the Lessor in its sole discretion may decide. Terminate'the Escrow Fund in accordance with Section 5 hereof. Further Remedies. A termination hereunder shall occur only upon notice by the Lessor to the. Lessee and only with respect to such portion or portions of the Equipment as the Lessor specifically elects to terminate in such notice. Except as to those portions of the Equipment with respect to which there is a termination, this Agreement shall remain in full force and effect and the Lessee shall be and remain liable for the full performance of its. remaining obligations hereunder.. All remedies of the Lessor are cumulative and may be exercised concurrently or separately upon the occurrence and continuation of an Event of Default. The exercise of any one remedy shall not be deemed an election of such remedy or preclude the exercise of any other remedy. 14. NON-APPROPRIATION Nature of Obligations of the Lessee. Except as otherwise provided in this Section, the obligation of the Lessee to make rental payments and all other payments provided for in this Agreement and to perform its obligations under this Agreement will be absolute and unconditional, and such rental payments and other amounts will be payable without any rights of set-off, recoupment or counterclaim that the Lessee might have against the Lessor or any other person and whether or not the Equipment is used by the Lessee or available for use by the Lessee. W'nile recognizing that this agreement does not provide for it to make any binding commitment beyond the current fiscal year of the Lessee, it is the current intention of the Lessee to make sufficient annual appropriations during the Lease Term to pay all rental payments and other. amounts required to be paid by the Lessee under this Agreement. Notwithstanding anything in this Agreement to the contrary, the Lessee's obligation to pay the cost and expense of performing its obligations under this Agreement, including without limitation 'its obligations to pay all rental payments and all other amounts required to be paid by the Lessee under this Agreement, are subject to and dependent upon appropriations being made from time to time by the City Council of the City of Martinsville, Virginia as the Lessee for such purpose. The Lessee directs the City Manager or other officer. charged with the responsibility of preparing the Lessee's budget to include in the budget for each fiscal year of the Lessee during the Lease Term a request that the City Council appropriate in the fiscal year the amount of rental payments and other payments due under this Agreement during such fiscal year. If at any time during any fiscal year of the Lessee, the amount appropriated in the budget of the Lessee for the fiscal year is insufficient to pay when due the rental payments and other amounts due under this Lease, the Lessee directs the City Manager (or other officer charged with responsibility for preparing the Lessee's budget) to submit to the Lessee at the next scheduled meeting of the Lessee, or as promptly as practicable, but in any event within 45 days, a request for a supplemental appropriation sufficient to cover the deficit. If, during any fiscal year of the Lessee, funds are not appropriated by the the Lessee following such 14