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Agenda - Economic Development Authority - 05/24/2005
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Agenda - Economic Development Authority - 05/24/2005
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4/14/2025 1:32:42 PM
Creation date
5/20/2005 11:16:45 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
05/24/2005
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32 <br /> <br />termination shall nevertheless be effective, but Tenant shall be responsible for the payment of <br />damages in an amount equal to the amount of the Rental Payments coming due which are <br />attributable to the number of days after termination of the Lease during which Tenant fails to <br />take such actions and for any other loss suffered by LandlOrd as a result of Tenant's failure to <br />take such actions as required. Termination of this Lease for any reason shall not terminate <br />Tenant's obligations, under Sections 2. I, 6.5 or 6.6 or relieve Tenant from any liability for the <br />nonperformance of any covenant in those sections or for any inaccuracy in the representations <br />contained in Section 2.1. <br /> <br /> Section 4.6. Termination of Lease Term. The Term of this Lease will terminate upon <br />any term/nation hereof by Tenant described in Section 4.3, upon a default by Tenant and <br />Landlord's electibn to terminate this Lease pursuant to Article XII, or upon the Tenant's exercise <br />of its option to purchase the Project pursuant to Article X and Tenant's payment of the Purchase <br />Option Price. Upon Tenant's PurChase of the Project, this Lease and the G-round Lease shall' <br />terminate and the Tenant thereupon shall become entitled to the Project AS IS, WITHOUT <br />W~TEI!;S, EXPRESS OR IM_PLIED, INCLUDING WARRANTIES OF <br />M]gRCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR <br />FITNESS FOR THE USE CONTEMPLATED BY TENANT, except that the Project Shall <br />not be subject to any lien or encumbrance created by or arising through Landlord, other than <br />Permitted Encumbrances. To evidence the foregoing, the Landlord. shall, at the request and <br />expense of Tenant, execute such documents as the Tenant reasonably determines are required to <br />convey and release to the Tenant, any and all of Landlord's remaining fight, title and/or interest <br />in and to the Project. <br /> <br />1763908vl <br /> <br /> <br />
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