Agenda - Council - 12/11/2012 - Laserfiche WebLink

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5. Potential Contamination., If in the opinion of the City Engineer, ground contamination which poses an environmental hazard is found on the Property, this Lease Agreement will be null and void and neither party will have any further obligation to the other. • 6. Rent. As and for rent for the Property for Lease Term, TK shall pay to the City $100.00/mo. commencing on the first day of June, 2011, and a like sum on each first day of the month through the Termination Date. In addition to the Base Rent, TK shall pay the Profit Sharing Rent in two payments, one payment due on August 1 of each year during the Lease Term and one payment due on November 1 of each year during the Lease Term. TK shall be permitted to deduct from any Profit Sharing Rent paid to the City its Base Rend paid prior to the Profit Sharing Rent payment. TK shall provide sufficient financial records to the City to enable the City to reasonably be assured that the Profit Sharing Rent has been properly accounted for. At a minimum, said records shall be provided to the City twice .annually at those times designated by the City's Finance Officer. 7. Indemnification. TK agrees that it will hold harmless, indemnify, and defend the City, its, officers, agents and employees against any and all claims, expenses (including attorneys fees), losses, damages or lawsuits for damages arising from or related to providing or failing to provide services hereunder, including but not limited to the negligence of TK. TK agrees that it will also hold harmless, indemnify, and defend Connexus Energy, its officers, agents and employees against any and all claims, expenses (including attorneys' fees), losses, damages or lawsuits caused by any person as a result of damage to or contact with the electric facilities of Connexus Energy on the Property. 8. Insurance. TK shall procure and maintain in full force and effect during the Lease Term, insurance coverage for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder or contact with the electric facilities of Connexus Energy by TK, its agents, representatives, employees or subcontractors. The insurance coverage shall satisfy the requirements set forth in Exhibit C, which is attached hereto and incorporated herein, and shall have single and combined limits of at least $2,000,000 per occurrence. 9. Maintenance. TK agrees to keep and maintain the Property in properly functioning, safe, orderly and sanitary condition, will suffer no waste or injury thereto, and will at the expiration or "other termination of the Lease Term, surrender the same with all improvements in the same order and condition in which they were on the Commencement Date. TK shall keep all rubbish, garbage or other refuse in proper containers and shall promptly empty same into the collection area designated from time to time by City. 10. Assignment and Subletting. TK may not assign its interestin this Lease Agreement nor sublet the Property to any third party without the prior written consent of the City. 11. Right of Entry. TK will permit the City, or its representative, to enter the Property, to examine, inspect and protect the Property, and to make such alterations, renovations, restorations and/or repairs as in the judgment of City may be deemed necessary or desirable for the Property. 141437.2 3