Sec. 7. A lease entered into under this chapter may provide that as a part of the lease rental for the school building or buildings the lessee or lessees shall: (1) pay all taxes and assessments levied against or on account of the leased property; (2) maintain insurance on the leased property for the benefit of the lessor corporation; and (3) assume all responsibilities for repair and alterations of the leased property during the term of the lease. [Pre-2006 Recodification Citation: 21-5-12-5.]
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