Agenda - Council - 02/23/2010 - Laserfiche WebLink

Home

the notices, they shall meet within ten (10) days after request by either parry at a mutually acceptable time and place to attempt, in good faith, to resolve the dispute. If the matter cannot be resolved at such meeting, LANDLORD's Architect shall act as the final arbitrator regarding said items. Delivery of the Punch List Notice shall not postpone the Turnover Date, the Commencement Date nor the obligation of TENANT to pay Rent. (d) Delayed Turnover Date. If the Turnover Date is established as any date other than the date specified in Section 8 (b), LANDLORD shall confirm such date to TENANT in writing delivered to TENANT at least five (5) days prior to the adjusted Turnover Date. All of its section In the event of any delays in the Turnover Date, LANDLORD shall cause the completion of the work to occur as soon as possible. Any such delays shall not affect the validity of this Lease nor be considered a failure to deliver the Leased Space to TENANT by the date referenced in Section 8 ( ?). LANDLORD acknowledges and agrees that time is of the essence for completion of the Improvements, therefore, if LANDLORD is unable to give possession of the Leased Space to TENANT by the date referenced in Section 8 (b) because construction of Improvements have not been sufficiently completed to make the Leased Space Ready for Turnover or for any other reason, excluding Force Majeure, LANDLORD shall give TENANT, as liquidated damages, a rent credit of one (1) days Rent for each and every calendar day LANDLORD fails to give possession of the Leased Space to TENANT. Failure to give possession by the date referenced in Section 8 (b), shall in no way affect the validity of this Lease Agreement or the obligations of TENANT hereunder, except that if LANDLORD extends the Turnover Date beyond July 31, 2010, TENANT shall have the right, upon written notice to LANDLORD, to cancel this Lease Agreement and all monies TENANT has provided LANDLORD hereunder shall be refunded to TENANT within ten (10) business days from the time TENANT gives written notice to LANDLORD of such cancellation, unless all or part of such delay is reasonably attributable to actions or omissions on the part of TENANT. In the case of a delay due to a Force Majeure, the construction schedule shall be extended one (1) day for each one (1) day of delay. (e) Payment for construction of improvements (1) "Construction Costs" is defined as the cost to construct the Improvements, including construction of the HVAC, electrical, flooring, carpentry construction and finish of the walls /doors /millwork, and security of doors and normal architectural and construction management/administration costs necessary for TENANT's use and occupancy of the Office Space. Notwithstanding the foregoing, Construction Costs shall not include the cost to construct the east wall of the Office Space, LANDLORD's staff time or legal fees. (2) LANDLORD shall pay $55,000.00 for the cost of construction of the Improvements ( "LANDLORD's Costs "). TENANT shall be responsible for payment of the difference between the Construction Costs and the LANDLORD Costs. (3) Upon LANDLORD's award of the contract to construct the Improvements, TENANT shall pay LANDLORD 90% of the difference between the Construction Costs and the LANDLORD Costs. The remaining balance shall be paid by TENANT to LANDLORD upon the satisfactory completion of all items in the Punch List Notice. M