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Agenda - Council - 03/02/2010 - Special
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Agenda - Council - 03/02/2010 - Special
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3/18/2025 2:32:14 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Title
Special
Document Date
03/02/2010
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writing to be bound thereby. Should TENANT sublease in accordance with the terms of this <br />Lease, fifty percent (50%) of any increase in rental received by TENANT over the per square <br />foot rental rate which is being paid by TENANT shall be forwarded to and retained by <br />LANDLORD, which increase shall be in addition to the Base Rent and Additional Rent due <br />LANDLORD under this Lease. NOTWITHSTANDING the preceding, this paragraph 23 is <br />NOT applicable to those Boat and RV Storage Contracts which TENANT enters into with <br />individual owners for the storage of boat and or RV equipment at the Leased Space <br />23. ATTORNMENT: <br />In the event of any sale, transfer or assignment of LANDLORD's interest in the Leased Space, or <br />this Lease, or if the Leased Space comes into custody or possession of a mortgagee or any other <br />party whether because of a mortgage foreclosure, or otherwise, TENANT shall attorn to such <br />assignee or other party and recognize such party as LANDLORD hereunder; provided, however, <br />TENANT'S peaceable possession will not be disturbed so long as TENANT faithfully performs <br />it obligations under this Lease. TENANT shall execute, on demand, any attornment agreement <br />required by any such party to be executed, containing such provisions and such other provisions <br />as such party may require. <br />24. NOVATION IN THE EVENT OF SALE: <br />In the event of the sale of the Leased Space, LANDLORD shall be and hereby is relieved of all <br />of the covenants and obligations created hereby accruing from and after the date of sale, and <br />such sale shall result automatically in the purchaser assuming and agreeing to carry out all the <br />covenants and obligations of LANDLORD herein. Notwithstanding the foregoing provisions of <br />this paragraph, LANDLORD, in the event of a sale of the Leased Space, shall cause to be <br />included in the agreement of sale and purchase a covenant whereby the purchaser of the Leased <br />Space assumes and agrees to carry out all of the covenants and obligations of LANDLORD <br />herein. <br />The TENANT agrees at any time and from time to time upon not less than ten (10) days prior <br />written request by LANDLORD to execute, acknowledge and deliver to LANDLORD a <br />statement in writing certifying that this Lease is unmodified and in full force and effect as <br />modified and stating the modifications, and the dates to which the basic rent and other charges <br />have been paid in advance, if any, it being intended that any such statement delivered pursuant to <br />this paragraph may be relied upon by any prospective purchaser of the fee or mortgagee or <br />assignee of any mortgage upon the fee of the Leased Space. In the event that TENANT fails to <br />execute and return the estoppel certificate within such ten (10) day period, the holder of such <br />encumbrance shall be entitled to rely, as against the TENANT, that: (i) this Lease is in full force <br />and effect, without amendment except as specified by the LANDLORD, (ii) TENANT has no <br />offsets against rent nor any defenses to TENANT's performance under this Lease, (iii) TENANT <br />has no right to any offset or defenses to the payment of rent, and (iv) TENANT has not paid any <br />rental under this Lease more than six months in advance. <br />25. SUCCESSORS AND ASSIGNS: <br />The terms, covenants and conditions hereof shall be binding upon and inure to the successors and <br />assigns of the parties hereto. <br />13 <br />
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