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Agenda - Economic Development Authority - 12/08/2022
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Agenda - Economic Development Authority - 12/08/2022
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3/14/2025 12:47:11 PM
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12/2/2022 11:22:10 AM
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Meetings
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Agenda
Meeting Type
Economic Development Authority
Document Date
12/08/2022
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provision under any circumstance is declared to be unlawful or invalid, the enforceability <br /> of all the other provisions shall not be affected. <br /> 37. Counterparts. This Lease may be executed in multiple counterparts, each of <br /> which shall be an original, but all of which together shall constitute a single agreement. <br /> 38. Security And Damage Deposit. Tenant contemporaneously with the execution <br /> of this Lease, has deposited with Landlord the sum of Three Thousand Five Hundred <br /> Eighty-seven and 00/100 Dollars ($3,587.00), receipt of which is hereby acknowledged by <br /> Landlord, which deposit is to be held by Landlord, as a security and damage deposit for <br /> the faithful performance by Tenant during the term hereof or any extension hereof. Prior <br /> to the time when Tenant shall be entitled to the return of this security deposit, Landlord <br /> may commingle such deposit with Landlord's own funds and to use such security deposit <br /> for such purpose as Landlord may determine. In the event of the failure of Tenant to keep <br /> and perform any of the terms, covenants and conditions of this Lease to be kept and <br /> performed by Tenant during the term hereof or any extension hereof, then Landlord, either <br /> with or without terminating this Lease may(but shall not be required to) apply such portion <br /> of said deposit as may be necessary to compensate or repay Landlord for all losses or <br /> damages sustained or to be sustained by Landlord due to such breach on the part of Tenant, <br /> including, but not limited to overdue and unpaid rent, any other sum payable by Tenant to <br /> Landlord pursuant to the provisions of this Lease, damages or deficiencies in the reletting <br /> of the Leased Property, and reasonable attorney's fees incurred by Landlord. Should the <br /> entire deposit or any portion thereof, be appropriated and applied by Landlord, in <br /> accordance with the provisions of this paragraph, Tenant upon written demand by landlord, <br /> shall remit forthwith to Landlord a sufficient amount of cash to restore said security deposit <br /> to the original sum deposited, and tenant's failure to do so within five (5) days after receipt <br /> of such demand shall constitute a breach of this Lease. Said security deposit shall be <br /> returned to Tenant, less any depletion thereof as the result of the provisions of this <br /> paragraph, at the termination of this Lease. Tenant shall have no right to anticipate return <br /> of said deposit by withholding any amount required to be paid pursuant to the provision of <br /> this Lease or otherwise. <br /> Lease Agreement <br /> Page 9 of 11 <br />
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