1999-044 - Laserfiche WebLink

Home Browse Search

do CI Fax to: FRIENDS OF VERO BEACH PUBLIC Fax Number; 3193767671 Daae: 01/29199 Lease Agreement No, 6720951001 TRANSFER AND ASSUMPTION AGREEMENT {Joint Liability) Transfer and Assumption Agreement entered into as of this _;:� -a day L"'",)f,, of 1999 {"E fective Date") between FRIENDS OF VERO BEACH PUBLIC ("Lessee"), ("Transferee") and COMMERCIAL EQUIPMENT LEAS ("Less or"). WHEREAS, Lessee entered into the lease agreement referenced above and all related documents (collectively, the "Lease"), pursuant to which Lessee leased from Lessor certain equipment and software licenses, if any, identified therein (the "Equipment"), and is currently indebted to Lessor in accordance with the terms of the Lease; and WHEREAS, Lessee has agreed to sell, transfer and assign to Transferee all of its rights and interests in and to the Lease and the Equipment, and Transferee has agreed to assume all Lessee's obligations to Lessor with respect thereto; and WHEREAS, the consent of Lessor to such transfer and assignment is required by the terms of the Lease: NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, it is agreed as follows: 1. Lausac and Tranaferac hrz 3by agree, dointl_y and severally, to pay and discharge all Lease payments and all other amounts payable under the Lease to Lessor, its successors and assigns, in accordance with the terms of the Lease including, without limitation, the payment of late charges, administrative, fees, property taxes, and other amounts duo and to become due thereunder, 2. Transferee hereby assumes and agrees to perform all of the covenants and the other obligations of Lessee as set forth in the Lease and to be bound by the terms thereof as if Transferee were the original lessee thereunder. 3. Lessee shall continue to remain liable and remain firmly bound as though this Transfer and Assumption Agreement had never been entered into. 4. Except as specifically modified herein, all terms, conditions and covenants of the Lease shall remain unchanged and shall continue to remain in full force and effect. 5. Lessee and Transferee hereby warrant, represent and covenant that the Lease is not subject to any disputes, offsets or counterclaims of any kind or nature whatsoever. 6. Transferee acknowledges that Lessor has a valid title to or first security interest in the Equipment and in confirmation thereof, agrees to execute all financing statements and other documents which Lessor may, in its sole discretion, deem necessary to protect such title or security interest. 7. Lessee's obligations hereunder and under the Lease shall not be impaired by any subsequent modification, release or other alteration of the Lease or any of the obligations thereunder, or any security therefor; and shall be limited to Lessee's obligations as they existed as of the Fffect±„e Date. E l? bf ?.. :f Lszei._ e:: .+nd u.. n. !' si t 1