Resolution 6664 - Laserfiche WebLink

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• that it believes accurately reflects forecast program revenues and expenses and that sho«~s that forecast program revenues will be equal to or greater than forecast program expenses, it «-ill approve such budget by resolution and supply to both the State Entity and the Commissioner of Finance certified copies of such resolution and budget. Section 3.05 Execution and Deiiven~ of Declaration. The Public Entity shall promptly execute, record in the appropriate office, and deliver a Declaration to the State Entity with al] of the recording information displayed thereon. Section 3.06 Public Entity Representations and tiVarranties. With respect to the Public Entity's acquisition of an interest in and, if applicable, the improvement of the Real Property and, in addition and if applicable, the acquisition, improvement, renovation, rehabilitation, or new construction of the Facility, the Public Entity covenants with and represents and warrants to the State Entity as follows: A. As of the date of this Agreement it has legal authority to enter into, execute, record, and deliver the Declaration, and it will not take any action that will revoke or impair such authority or impair its ability to enter into, record, or deliver the Declaration. B. It will take al} actions necessary to its execution, recording, and delivery of the Declaration. • C. After the Declaration has been executed it will be a legal, valid, and binding obligation of the Public Entity enforce~.ble against the Public Entity in accordance with its terms. D. With respect to the Real Property it will hold either (i) fee simple title, (ii) a lease or easement, in form and substance acceptable to the State Entity and that cannot be prematurely cancelled or terminated without the prior written consent of tl~e State Entity, for a term of one-hundred years if there is no Facility, or (iii) a lease or easement, in form and substance acceptable to the State Entity and that cannot be prematurely cancelled or terminated without the prior written consent of the State Entity, for a term of years equal to or greater than longer of 50 years or the expected useful Iife of the structures and improvements which make up the Facility if there is a Facility, and, in addition, will possesses all easements necessary for the operation, maintenance and management of the Real Property in the manner specified in Section 3.04, provided, however, the requirements in this Section 3.06 (d) shall not apply to lands currently in public ownership at the effective date of the Agreement. E. With respect to the Facility, if applicable, it will hold either (i) fee simple title, or (ii) a lease or easement, in form and substance acceptable to the State Entity and that cannot be prematurely cancelled or terminated without the prior written consent of the State Entity, for a term of years equal to or Beater than longer of 50 years or the expected useful life of the structures and improvements which make up the Facility, and, in addition, will possesses all easements necessary for the operation, maintenance and management of the Facility in the manner specified in Section 3.04. t Generic GO Grant Agreement for Pre-Design or Design Grants Ver - 7/30/03 (Gnrc GO GA-PrDsgn Grnt)