Agenda - Council - 03/27/2018 - Laserfiche WebLink

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Tenant shall, at its expense, maintain a policy or policies of insurance insuring the Premises against loss or damage by fire, expulsion or other insurable hazards and contingencies for the full insurable value of Tenant's improvements to the Premises and Tenant's personal property. 20. Security and Damage Deposit. Tenant previously deposited with Landlord $1,000.00 as a security and damage deposit for the faithful performance of this Lease Agreement. Landlord may commingle the deposit with its own funds and use such deposit for any purpose. In the event Tenant fails to perform or fulfill any of the terms of this Lease Agreement, Landlord, either with or without terminating this Lease Agreement, may 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 by Tenant, including overdue and unpaid rent and any other sum payable by Tenant to Landlord pursuant to the provisions of this Lease, damages or deficiencies in the reletting of the Premises, and reasonable attorney's fees incurred by Landlord. Should the entire deposit or any portion thereof, be appropriated and applied by Landlord, Tenant, upon written demand by Landlord, shall remit 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 30 days after receipt of such demand shall constitute a breach of this Lease. Said security deposit together with any interest thereon as required by law shall be returned to Tenant less any depletion as a result of the provisions of this paragraph, at the end of the term of this Lease or any renewal thereof, or upon the earlier termination of this Lease. 21. Time of the Essence. Time is of the essence with regard to this Lease and the terms therein. 22. Relationship of Parties. This Lease shall create the relationship of Landlord and Tenant between the parties and none other. 23. Holding Over. If Tenant remains in possession of the Premises, or any part thereof, after the expiration or termination of the Lease Term with the express written consent of Landlord, Tenant shall be deemed to be occupying the Premises as a Tenant at will, subject to all the conditions, provisions and obligation of this Lease insofar as the same can be applicable to a tenant at will; provided, however, that the Rent required to be paid by Tenant during any holdover period shall be a minimum of 1.5 times the monthly Rent which Tenant was obligated to pay for the month immediately preceding the end of the Lease Term, for each month or any part thereof, of any such holdover period. In the event of holding over by Tenant after expiration or termination of this Lease without the written consent of Landlord, Tenant shall be in breach of this Lease and Landlord shall be entitled to all of its rights and remedies under this Lease, in law, or in equity. No holding over by Tenant after the Lease Term shall operate to extend the Lease Term or renew this Lease. In the event of any unauthorized holding over, Tenant shall indemnify Landlord against all claims for damages by any other tenant to whom Landlord may have leased all or any part of the Premises covered hereby effective upon the expiration or termination of the Lease. Page 6 of 12