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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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Last modified
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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such Hazardous Substance (i) occurred subsequent to the Transfer Date, (ii) did not occur as a <br />result of any action of the Tenant, and (iii) did not occur as a result of a continuing migration or <br />release of any Hazardous Substance introduced prior to the Transfer Date in, on, under or near <br />the Project. <br /> <br /> (5) Except as expressly provided for in this section, the indemnifications provided <br />herein shall remain in full force and effect, including, without limitation, with. respect to <br />Hazardous Substances which are discovered or released in, on or under the Land after the <br />Transfer Date, and with respect to the continuing migration or release of any Hazardous <br />Substance previously introduced in, on, under or near the Land. The foregoing limitations shalI <br />not affect or impair any rights, remedies or claims the Landlord or the Trustee may have outside <br />the .scope of this indemnity, at law or in equity, with respect to the Tenant or others. <br /> <br /> Section 6.6. Damage to or Destruction or Condemnation of Project. If after the <br />execution of this Lease all or any part of the Project is lost, stolen, condemned, destroyed or <br />damaged, or taken by condemnation, Tenant shall as soon as practicable after such event restore <br />and/or replace (as in the case may be required), or cause to be restored and/or replaced, the same <br />at Tenant's sole cost and expense such restoration or replacement to be of equal or greater value <br />to the Project or the applicable portion theret>fimmediately prior to the time of the loss <br />occurrence or condemnation, whereupon such restoration or replacement shall be substituted in <br />th.is Lease by appropriate endorsement, if necessary. By way of example but not limitation, <br />restoration shall include any demolition, clearance or other clean-up or safety measures <br />reasonably required in connection with any casualty, destruction or other loss of any portion of <br />the Project. The Net Proceeds payable with respect to the loss may be applied towards the costs <br />of such replacement or restoration. <br /> <br />38 <br /> <br />1763908¥l <br /> <br /> <br />
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