Reso 2019-2904 - Laserfiche WebLink

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_ - NON APPROPRIATION RIDER This Non-Appropriation Rider to the Lease With Maintenance Agreement No.�dated 20 or the FMV Lease Agreement No. dated , 20_(each, individually, the "Lease"), is by and between Toshiba Financial Services (Lessor)and CITY OF SUNNY ISLES BEACH I (Lessee). Capitalized terms used herein without definition shall be defined as provided in the Lease. Notwithstanding anything contained In the Lease to the contrary, • 1. Lessee presently Intends to continue the Lease for Its entire term end to pay all rentals or other payments relating thereto and shall do all things lawfully within its power to obtain and maintain funds from which the rentals and all other payments owing thereunder may be made. To the extent permitted by law,the person or entity In charge of preparing Lessee's budget will Include In the budget request for each fiscal year during the term of the Lease the rentals to become due in such fiscal year, and will use all reasonable and lawful means available to secure the appropriation of money for such fiscal year sufficient to pay all rentals coming due therein. The parties acknowledge that appropriation for rentals is a governmental function which Lessee cannot contractually commit itself in advance to perform and the Lease does not constitute such a • commitment. However, Lessee reasonably believes that moneys in an amount sufficient to make all rentals can and will lawfully be appropriated and made available to permit Lessee's continued utilization of the Equipment in the performance of its essential functions during the term of the Lease. 2. If Lessee's governing body fails to appropriate sufficient moneys in any fiscal year for rentals or other payments due under the Lease and if other funds are not available for such payments, then a'Non-Appropriation" shall be deemed to have occurred. If a Non-Appropriation occurs,then: (i)Lessee shall give Lessor Immediate notice of such Non-Appropriation end provide written evidence of such failure by Lessee's governing body at least sixty(SO)days prior to the end of the then current fiscal year or If Non-Appropriation has not occurred by that date,Immediately upon such Non-Appropriation;(iI)i no later than • the last day of the fiscal year for which appropriations were made for the rentals due under the Lease(the'Return Date'), Lessee shall return to Lessor all,but not less than all,of the Equipment covered by the Lease,at Lessee's sole expense,in accordance with the terms hereof;and(Ili)the Lease shall terminate on the Return Date without penalty or expense to Lessee and Lessee shall not be obligated to pay the rentals beyond such fiscal year,provided,that Lessee shall pay all rentals and other payments due under the Lease for which moneys shall have been appropriated or ere otherwise available, provided further,that Lessee shall pay month-to-month rent at the rate sat forth In the Lease for each month or part thereof that Lessee fails to return the Equipment as required herein. 3. The Lease shell be deemed executory only to the extent of monies appropriated and available for the purpose of the Lease,and no liability on account thereof shall be incurred;by the.Lessee beyond the amount of such monies. The Lease Is not a general obligation of the Lessee. Neither the full faith and credit nor the taxing power of the Lessee are pledged to the payment of any amount due or to become due under the Lease. It is understood that neither the Lease nor any representation by any public employee or officer creates 'any legal or moral obligation to appropriate or make monies available for the purpose of the Lease. 4. The Lessee end Lessor agree that they intend the Lease to be an operating lease and that by the execution thereof, Lessee acquires no ownership interest in the Equipment whether vested or contingent. The Lessee's interest in the Equipment is limited to that of a lessee and Lessor retains all the rights of owner therein. Any provisions indicating to the contrary in this Rider are for precautionary purposes only. IN WITNESS WHEREOF, each of the parties hereto has caused this Rider to be executed as of the_day of 20 Toshi.: Financial Services CITY OF SUNNY ISLES BEACH • ( .:ss ) • (Lessee) • By • / 41. (Date) dAL (Date) Name' I-� �' � •- Name/Titie