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MUNICIPAL LEASING ASSOCIATES. INC.
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MUNICIPAL LEASING ASSOCIATES. INC.
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Last modified
5/20/2025 4:53:30 PM
Creation date
9/18/2024 1:36:17 PM
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Contracts
Company Name
MUNICIPAL LEASING ASSOCIATES. INC.
Contract #
A-1996-078
Agency
Police
Council Approval Date
7/1/1996
Destruction Year
2005
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statement, representation or warrant made by Lessee in this Lease, any <br />Lease Schedule or in any document ever delivered by Lessee pursuant <br />hereto or in connection herewith is false, misleading or erroneous in <br />any material respect; (c) Lessee becomes insolvent, is unable to pay <br />its debts as they become due, makes an assignment for the benefit .of <br />creditors, applies or consents to the appointment of a <br />a receiver, <br />trustee, conservator or.liquidator of Lessee or of all or a substantial <br />part of its assets, or petition for relief is filed by Lessee under <br />federal bankruptcy, insolvency or similar laws. <br />SECTION 24. Remedies. Upon the occurrence of an Event of <br />Default, Corporation may, at its option, exercise any one or more of <br />the following remedies: (a) by written notice to Lessee, request Lessee <br />to (and Lessee agrees that it shah.), at Lessee's expense, promptly <br />return the Property to Corporation freight prepaid and insured to any <br />location in the continental United States as designated by Corporation <br />all at Lessee's expense, or Corporation, at its option, may enter upon <br />the premises where the Property is located and take immediate <br />possession of and remove the same without liability to Corporation or <br />its agents for such entry or for damage to property or otherwise; (b) <br />sell or lease the Property or sublease it for the account of the <br />Lessee, holding Lessee liable for all Rental Payments and other <br />payments due to the effective date of such selling, leasing or <br />subleasing plus any accrued interest to the date of termination; and <br />(c) exercise any other right, remedy or privilege which may be <br />available to it under applicable law, including the right to (i) <br />proceed by appropriate court action to enforce the terms of this Lease, <br />(ii) recover damages for the breach of this Lease, and (iii) rescind <br />this Lease as to any portion of or all of the Property. No right or <br />remedy herein conferred upon or reserved to Corporation is exclusive of <br />any other right or remedy herein, but each shall be cumulative of every <br />other right or remedy given hereunder or now or hereafter existing at <br />law or in equity or by statute or otherwise, and may be enforced <br />concurrently therewith or from time to time; provided, however, that <br />notwithstanding any provisions to the contrary herein, Corporation <br />shall not under any circumstances have the right to accelerate the <br />Rental Payments that fall due in future rental periods or otherwise <br />declare any Rental Payments not then in default to be immediately due <br />and payable. <br />SECTION 25. Non -Waiver. No covenant or condition to be <br />performed by Lessee under this Lease can be waived except by the <br />written consent. of Corporation. Forbearance or indulgence by <br />Corporation in any regard whatsoever shall not constitute a waiver of <br />the covenant or condition in question. Until performance by Lessee of <br />said covenant or condition is complete, Corporation shall be entitled <br />to invoke any remedy available to Corporation under this Lease or by <br />law or in equity despite said forbearance or indulgence. <br />SECTION 26. Assignment. Without the prior written consent of <br />Corporation, Lessee shall not (a) assign, transfer, pledge, or <br />hypothecate this Lease, the Property, or any part thereof, or any <br />interest therein, or (b) sublet or lend the Property or any part <br />thereof, or permit the Property or any part thereof to be used in a <br />M <br />
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