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R2007-191 AUTHORIZING MANAGEMENT AND LEASE AGREEMENT
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R2007-191 AUTHORIZING MANAGEMENT AND LEASE AGREEMENT
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10/30/2015 10:08:07 AM
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10/30/2015 10:08:06 AM
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Resolution/Ordinance
Res Ord Num
R2007-191
Res Ord Title
AUTHORIZING MANAGEMENT AND LEASE AGREEMENT HORVE HOSPITALITY MANAGEMENT, INC. - DECATUR CONFERENCE CENTER AND HOTEL
Approved Date
10/11/2007
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ARTICLE V <br /> TERMINATION <br /> Section 1. All property, fixtures, furniture and other items of the Hotel shall remain <br /> property of the Owner at the time of termination of this Agreement. <br /> Section 2. If Owner determines that Horve has defaulted under or violated a <br /> material term of this Agreement, Owner may terminate this Agreement on written notice <br /> to Horve and shall pursue such other remedies as may be available under law. <br /> Section 3. If Horve determines that Owner has defaulted under or violated a <br /> material term of this Agreement, Horve may terminate this Agreement on written notice <br /> to Owner and shall pursue such other remedies as may be available under law. <br /> Section 4. Upon termination of the Agreement, all amounts due shall become <br /> immediately due and payable. Horve shall ensure that the balance of the Hotel's <br /> working capital on the effective date of termination, including cash on hand and all <br /> accounts receivable, shall equal the sum of the initial working capital. <br /> ARTICLE VI <br /> MISCELLANEOUS <br /> Section 1. Nothing contained in this Agreement shall be construed as creating, <br /> between the parties or with any third party, a partnership, joint venture or any other <br /> relationship. No obligation of either party shall be enforceable by any person other than <br /> t hir <br /> the arties hereto and no third art is intended to be or shall be deemed o be a t d , <br /> p p Y <br /> party beneficiary of this Agreement. <br /> 8 'I <br />
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