Agenda - Council Work Session - 03/29/2011

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9. POSSESSION: Landlord shall deliver possession of the Leased Property to Tenant on the Commencement Date. 10. SECURITY AND DAMAGE DEPOSIT: Tenant contemporaneously with the execution of this Lease, has deposited with Landlord the sum of One Thousand and 00 /100 Dollars ($1,000.00), receipt of which is hereby acknowledged by Landlord, which deposit is to be held by Landlord, with interest payable to Tenant accruing at the rate of one per cent (1 %) per annum, as a security and damage deposit for the faithful performance by Tenant during the term hereof or any extension hereof. In the event of the failure of Tenant to keep and perform any of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the term hereof or any extension hereof, then Landlord, either with or without terminating this Lease may (but shall not be required to) apply such portion of said deposit as may be necessary to compensate or repay Landlord for all losses or damages sustained or to be sustained by Landlord due to such breach on the part of Tenant, including, but not limited to overdue and unpaid rent, any other sum payable by Tenant to Landlord pursuant to the provisions of this Lease, damages or deficiencies in the reletting of the Leased Property, and reasonable attorney's fees incurred by Landlord. Should the entire deposit or any portion thereof, be appropriated and applied by Landlord, in accordance with the provisions of this paragraph, Tenant upon written demand by landlord, shall remit forthwith to Landlord a sufficient amount of cash to restore said security deposit to the original sum deposited, and tenant's failure to do so within five (5) days after receipt of such demand shall constitute a breach of this Lease. Said security deposit shall be returned to Tenant, less any depletion thereof as the result of the provisions of this paragraph, at the term of this Lease or any renewal thereof, or upon the earlier termination of this Lease. Tenant shall have no right to anticipate return of said deposit by withholding any amount required to be paid pursuant to the provision of this Lease or otherwise. 11. USE: The Leased Property shall be used and occupied by Tenant solely for vehicle parking and ingress /egress driveway purposes and such use by Tenant shall at all times be in full compliance with all applicable laws, ordinances and governmental regulations affecting the Leased Property. Tenant shall occupy the Leased Property, conduct its business and control its agents, employees, invitees and visitors in such a way as is lawful, and reputable and will not permit or create any nuisance, noise, odor, or annoyance or disturbance. 12. ACCESS TO LEASED PROPERTY: Landlord reserves the right to enter upon the Leased Property at any time in the event of an emergency and at reasonable hours to exhibit the Leased Property to prospective purchasers or others; and to exhibit the Leased Property to prospective Tenants and to display "For Lease" or similar signs on the Leased Property during the last one hundred eighty (180) days of the term of this Lease, all without hindrance or molestation by Tenant. 13. PUBLIC LIABILITY INSURANCE: 3