Agenda - Council - 04/25/2023 - Laserfiche WebLink

Home

one hundred eighty (180) days of the term of this Lease, all without hindrance or molestation by Tenant. 14. EMINENT DOMAIN: In the event of any eminent domain or condemnation proceeding or private sale in lieu thereof in respect to the Leased Property during the term thereof, the following provisions shall apply: a. Leased Property Acquired If the whole of the Leased Property shall be acquired or condemned by eminent domain for any public or quasi -public use or purpose, then the term of this Lease shall cease and terminate as of the date possession shall be taken in such proceeding and all rentals shall be paid up to that date. Notwithstanding the above, Landlord, upon receipt of written notice of a condemnation proceeding regarding the Property being filed in a Court of competent jurisdiction, shall forth with notify Tenant in writing of said Notice. Upon receipt of same, Tenant shall have the right to terminate the Lease upon 30 days written notice to Landlord. b. Part of Leased Property Acquired. If any part constituting less than the whole of the Leased Property shall be acquired or condemned as aforesaid, and in the event that such partial taking or condemnation shall materially affect the Leased Property so as to render the Leased Property unsuitable for the business of Tenant, then the term of this Lease shall cease and terminate as of the date possession shall be taken by the condemning authority and rent shall be paid to the date of such termination. In the event of a partial taking or condemnation of the Leased Property which shall not materially affect the Leased Property so as to render the Leased Property unsuitable for the business of Tenant, this Lease shall continue in full force and effect but with a proportionate abatement of the Base Rent and Additional Rent based on the portion if any, of the Leased Property taken. Landlord reserves the right, at its option, to restore the Leased Property to substantially the same condition as they were prior to such condemnation. In such event, Landlord shall give written notice to Tenant within 30 days following the date possession shall be taken by the condemning authority, of Landlord's intention to restore. Upon Landlord's notice of election to restore, Landlord shall commence restoration and shall restore the Leased Property with reasonable promptness, subject to delays beyond Landlord's control and delays in the making of condemnation or sale proceeds adjustment by Landlord; and Tenant shall have no right to terminate this Lease except as herein provided. Upon completion of such restoration, the rent shall be adjusted based upon the portion, if any, of the Leased Property restored. c. Tenant Waiver. Subject to the notice provision in paragraph 13 a. above, in the event of any condemnation or taking as aforesaid, whether whole or partial, Tenant shall not be entitled to any part of the award paid for such condemnation and Landlord is to receive the full amount of such award, Tenant hereby expressly waives any right to claim to any part thereof. d. Tenant Damages. Although all damages in the event of any condemnation shall belong to Landlord whether such damages are awarded as compensation for diminution in value of the leasehold or to the fee of the Leased Property, Tenant shall have the right to claim and recover from the condemning authority, but not from Landlord, such compensation as may be separately awarded or recoverable by Tenant in Tenant's own right on account of any and all 6