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8M Consent 2021 0104
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8M Consent 2021 0104
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12/30/2020 5:46:03 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
1/4/2021
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PERM
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-7- <br />will not exercise, enforce or attempt to enforce any right of setoff against the Collateral, or <br />otherwise charge or deduct from the Collateral any amount whatsoever. <br />(h) Escrow Agent and Lessee hereby agree that any property held in the Escrow <br />Account shall be treated as a financial asset under such section of the Commercial Code as <br />corresponds with Section 8-102 of the Uniform Commercial Code, notwithstanding any <br />contrary provision of any other agreement to which Escrow Agent may be a party. <br />(i) Escrow Agent is hereby authorized and instructed, and hereby agrees, to <br />send to Lessor at its address set forth in Section 8 below, concurrently with the sending <br />thereof to Lessee, duplicate copies of any and all monthly Escrow Account statements or <br />reports issued or sent to Lessee with respect to the Escrow Account. <br />7.Information Required Under USA PATRIOT ACT. The parties acknowledge that in <br />order to help the United States government fight the funding of terrorism and money laundering <br />activities, pursuant to Federal regulations that became effective on October 1, 2003 (Section 326 <br />of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and <br />update information that identifies each person establishing a relationship or opening an account. <br />The parties to this Agreement agree that they will provide to the Escrow Agent such information <br />as it may request, from time to time, in order for the Escrow Agent to satisfy the requirements of <br />the USA PATRIOT Act, including but not limited to the name, address, tax identification number <br />and other information that will allow it to identify the individual or entity who is establishing the <br />relationship or opening the account and may also ask for formation documents such as articles of <br />incorporation or other identifying documents to be provided. <br />8.Miscellaneous. Capitalized terms not otherwise defined herein shall have the <br />meanings assigned to them in the Lease. This Agreement may not be amended except in writing <br />signed by all parties hereto. This Agreement may be executed in one or more counterparts, each <br />of which shall be deemed to be an original instrument and each shall have the force and effect of <br />an original and all of which together constitute, and shall be deemed to constitute, one and the <br />same instrument. Notices hereunder shall be made in writing and shall be deemed to have been <br />duly given when personally delivered or when deposited in the mail, first class postage prepaid, or <br />delivered to an express carrier, charges prepaid, or sent by facsimile with electronic confirmation, <br />addressed to each party at its address below. <br />Notices and other communications hereunder may be delivered or furnished by electronic <br />mail provided that any formal notice be attached to an email message in PDF format and provided <br />further that any notice or other communication sent to an e-mail address shall be deemed received <br />upon and only upon the sender’s receipt of affirmative acknowledgement or receipt from the <br />intended recipient. For purposes hereof no acknowledgement of receipt generated on an automated <br />basis shall be deemed sufficient for any purpose hereunder or admissible as evidence of receipt. <br />332
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