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Agenda - Council - 08/13/2002
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Agenda - Council - 08/13/2002
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
08/13/2002
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SECTION THIRTY-TWO <br />DISPOSITION OF IMPROVEMENTS ON TERMINATION OF LEASE <br /> <br /> On termination of this lease agreement for any cause, LESSOR shall become the owner of <br />any building or improvements on the demised premises. If the building extends onto other property <br />owned by the then LESSEE under this lease agreement, the LESSEE shall convey to LESSOR, on <br />termination, an undivided interest as tenant in co~rLmon in all of the property covered by the <br />building which bears the same proportion to the whole as the area of the demised premises bears to <br />the total area covered by the building. LESSOR shall convey to LESSEE an undivided interest as <br />tenant in common in the demised premises that bears the same relation to the whole of the demised <br />premises as tl~e area covered by the building not included in the demised premises bears to the <br />whole area covered by the building. <br /> <br />SECTION THIRTY-THREE <br />TRANSFER OF SECURITY <br /> <br /> If any security is given by LESSEE to secure the faithful performance of all or any of the <br />covenants of this lease agreement on the part of LESSEE, LESSOR may transfer or deliver the <br />security, as such, to the purchaser of the reversion, in the event that the reversion be sold, and then <br />LESSOR shall be discharged from any further liability in reference to the security. <br /> <br />SECTION THIRTY-FOUR <br /> WAIVER <br /> <br /> The waiver by LESSOR of, or the failure of LESSOR to take action with respect to, any <br />breach of any term, covenant, or condition contained in this lease agreement shall not be deemed to <br />be a waiver of such term, covenant, or condition, or subsequent breach of the same, or any other <br />term, covenant, or condition contained in this lease agreement. The subsequent acceptance of rent <br />under this lease agreement by LESSOR shall not be deemed to be a waiver of any preceding breach <br />by LESSEE of any term, covenant, or condition of this lease agreement, other than the failure of <br />LESSEE to pay the pmnticular rental so accepted, regardless of LESSOR's knowledge of a <br />preceding breach at the time of acceptance of rent. <br /> <br /> SECTION THIRTY-FIVE <br />EFFECT OF LESSEE'S HOLDING OVER <br /> <br /> Any holding over after the expiration of the term of this lease agreement, with the consent of <br />LESSOR, shall be construed to be a tenancy from month-to-month, at the same monthly rental as <br />required to be paid by LESSEE for the period immediately prior to the expiration of the term of this <br />lease agreement, and shall otherwise be on the terms and conditions specified in this lease <br />agreement, so far as applicable. <br /> <br />-236- <br /> <br />15 <br /> <br /> <br />
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