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to: <br />2695614v62 <br />X12/2247/10 <br />7.5 If the Developer leases the Retail Space to a tenant for a term that <br />extends beyond the day immediately preceding the fourth anniversary of the <br />Commencement Date. the Gross Rent or Gross Rent Equivalent that the tenant is <br />obligated to pay during the year or years commencing on and following the fourth <br />anniversary of the Commencement Date may not exceed the average Gross Rent or <br />Gross Rent Equivalent that the tenant is obligated to pay during the period between <br />(a) the later of the commencement date of the lease or the first anniversary of the <br />Commencement Date and (b) the day immediately preceding the fourth anniversary <br />of the Commencement Date by more than 5% per year. <br />7.6 The Developer may not enter into a lease of the Retail Space that <br />obligates the Developer to provide the tenant with leasing incentives, including but <br />not limited to. free rent. reduced rent or tenant improvements or tenant <br />improvement allowances that exceed $ per square foot per year of the lease term <br />without the written consent of the HRA which consent the HRA may grant or <br />withhold in the HRA sole and absolute discretion. <br />8. Assignments. The rights of the Developer and the HRA are not assignable. <br />9. Additional Provisions. <br />9.1 Conflicts of Interest. No member of the governing body or other <br />official of the HRA shall participate in any decision relating to the Agreement which <br />affects his or her personal interests or the interests of any corporation. partnership <br />or association in which he or she is directly or indirectly interested. No member. <br />official or employee of the HRA shall be personally liable to the HRA in the event of <br />any default or breach by Developer or successor or on any obligations under the <br />terms of this Agreement. <br />9.2 No Implied Waiver. In the event any agreement contained in this <br />Agreement should be breached by any party and thereafter waived by any other <br />party. such waiver shall be limited to the particular breach so waived and shall not <br />be deemed to waive any other concurrent. previous or subsequent breach <br />hereunder. <br />9.3 Titles of Sections. Any titles of the several sections of this Agreement <br />are inserted for convenience of reference only and shall be disregarded in <br />construing or interpreting any of its provisions. <br />9.4 Notices. A notice. demand or other communication under this <br />Agreement by any party to any other shall be sufficiently given or delivered the day <br />following the day if it is dispatched by overnight courier; two business days after it <br />is mailed. via registered or certified mail. postage prepaid. return receipt requested: <br />or the day it is delivered personally, and <br />(i) in the case of Developer is addressed to or delivered personally <br />B -4 <br />