HomeMy WebLinkAbout1538 d. `I'he I,;,~~see R~y, if it sh~l_1 5o d~:: ira, c~nde~~~•oi ~~ii~~
tir~:e to cor,test th° validity of an3• assc~s~:;~~.~nt, or to obt~tj.~z ~ ,
lo~r~:r~.n~ of the assessed v~luation upvn tlie rem'._sed Yrc;:,SJ~J f'or
the purpe~e oi' reducin~ any assessr~ant:. In such evei~i; t~:e Lc.~s:si~
~r~ll of fe: no ob~eci.ion ~nd at the reqL«st of tY~t~ Le:.~~:-e, t~~it~l;oui:
expense to the Lessor, will cooperat;e t~~ith the T.cssee. If r::-
auested by the I,essee, and prov3ded 1ie ~•r-ill not in the r~a~c~z~ble
~ud~rent of the I.essor i?icur any expense or 1i abi]~ity ther~Uy, ~
the Lessor wi 11 execute any docu~rr~r,ts ti~~hi ch rn~y t~e nec~sslry arr3 ,
proper for ar?y ~uch pi'OCG2C~~I1~';5. Any refut~s shall be the pr~o~-
eri;y of the LQss~e to the extent to which it cr.ay bc b~sed on a '
paym~ent of ai~ as~cssrr.~nt made by the Lessee. '
e. The Lessor rr:~y at anv time req~aire the I.essee to de~s-
it fuilds for the payment of current taxes an3 assessi~
~I1~3 on the ~
Demised Prenlises in a~ar~k or trust co~:ipany selected t~y the Le~-
sor. Such ft~nds shall be held in the nar~~e of the Lessee, tivith ~44
any interest payab1e t•o the Lessee, but tr,~ deposit~ry sha11 be
prohibit;ed from p~ yin~; such futr_is t;o anyone other than th? appi~o- ~4
priate taxir?g authority except upon the written consent of t}~e i:
I.~essor. The Less~e shall so deposit one-ts~relfth (1/12) of the
current annual ta_xes, or those of the precedin~ tax year if the
current taxes ha~~e not then been fix~d, on the first day of each
mon~h ir, ~dvar.ce, excepi; that all additional func~s required for
any payment shall also be deposited on th•~ first ciay of
tha fin31 ,
munt~h duri_n~; ~•rhich or at the end of whic}~ a payn~nt is due and ~
payaUle vrithout interest or penalty, and durin~ ?rlhlcl~ the m.~~xi-
mwn disceunt for early paym°nt is allowable under the law. t~Tot-
witnstandin~ the f'ore~oin,c~,, at such tirre as the IPSSOr may first
i require the I.essec to make ~uch depos~ts, the fi.rst deposit rr.:~de ~
by the Lessee shall be in an amount suff'icient to cre~te a~an~c
; balance eqa~l to ~~iha~ it would have been had t}~e I,essor requlred
~ tlie first ~uch monthl,y deposit to have becn m~-~de on th~ first day ~t
~ of t;he month il;~:,iedia'tely succeedin~ the month during rlhi ch the ~
3 tax could have been paid with the rr.a.}:irmim permissible dlsco:127~: ~
b for early p~iyr.:~nt allowed under the 1aw. '
~ r
£
~ 8. Insurance Frendur:s and Ui;_tlitie::. I~s^ee cavLnants a~~
~ a~reF~s tha s a pay preia ums i
o-r
a71 insurance policies which
~ ~
~ 1,he Ir~ssee is obli~ateci Lo carry under the terrr,~ of' this Isea~ e not
~ less tha.n fifteen 715) days prior Lo the date upon wh3.ch tfi~ san~:
c=
~ stial:l beco~~:v duc, and th~ t it will exh:ibit to ~he Lessor pr•oof oT
such pavmeri~ ~r3_t•hin ten (10) days af.ter r~akin~; ~ay~r~nt. Thc I~c:,::ee ~
~ shall further mzlce ~11 necessar,y de~~sit;s in CO:l?'l~C~i011 with ~itri
i pay all biils ai~~ ch~ r~;es for ~;as, elecL-ricity, light he^t, pa~~:~~r, ~z
~ and t;elephone or ot.her co~~~!unicati_on service, an~ for a1~ oilic~r•
utilii;ie^ used, reri~erF:cl or suppliect on or in conn~cttan ~~~ith t.he
Derr~i~i:d Yrerniscss, an~i shall indemn~fy th~ I~essor a~;air.st ~n;r lia- ~
s bj.li.t,y or dama~~es on such account. i
r=
9. ~ssociati_on a»d A;ana~err~ent /?~*re~ra.ent. 7'he T~asee, in its
~ cap~.cii;y 2s Co~:c~oin'iniu;~; ssocz`~;3or,; ~i~s~~ered in~~o a f~;arcaJer:.~_nt
~ A~;reemen~ tr:it;h F,~?C~IF i•~'~ic~G~:T~~^.iv~i'' CC~rI'OnATIO~ as f~i31~:~~r~r. The if~~r~:~;,er
has t;he clttty 2nd respo~~sibility to perforrn all acimin~Lst.rat.ivc ~r.d
~ m~na~;erial. acts r~quired to b~ performed by the I:essc:c un3cr tlii_s
'~R I~on-I,::clucive N::nety-;~:ine Yeur I,~a~,~ A~ree2~;ent. '
~ - _
_ Due tc~ thE~ siz~ and cxtent an~ t;l:c comple}:iLie^ involved i.n
'T~- ;c "1I'IU?' CO::rL~:'~:, it 3_s r.:u~;t_z::ll~-
_ admf r::ts t.erin~ the ce~ r~: ~ CG: ~..r: ; ~ _
Y t~~;~°ced th~t fii the evcr~t- afoz~c ~3~Id :~:an~~;e~2:~nt; :~rrze~,e~t is te?~r~i::~=~ ~cJ, ;
th~: ir~s:~e~ ~;}i:a.11 c~ use t.u be for~~~:e:l a i•;~i~~nc::.•_~1~~~ k:-soc~~.~10;~ con-
= s3si:-ln ; of the ~r.~rn~erv o:' ~1~. t.t:e Con~or~~iniun: F~::.oc~_,~L~onv [IYi
Colc~nnu:?c:: Con~3~:::itiiu:a COi!'i~~_P.}..
1't~e o:~:n~~ each car.do;::i nium u:,it•, ~s evid~nc~d b~ tr::~ recc~r~~~~•_ ~;Io:~
of u dc~~:l thcr: !:o, ~}~=j.11 atito:~.-~L_ic~l.lv becorr:~ ~::s~~~}~~:r o:' th^ i•-.~~:-;;e..
rr~er~t E~~:~oclt+tio~:. ie~ th~ evei;t; Lr^t the afo~°e~a~d i~:.~n= ~c;~~~_nt r.~;~°~.~c:.,;n~
3s t~-r;~Iri;;e:~ ir~ ~.r~~j tr.r_~n.1~r. L.ac}~ cor:~uminiu^~ u!~ii: ~)?~ll. b~ ent;il;~~ci
to cc,st on^ vo~~ ii1 r,:~?ti-~•r unol-~ 1~~}~~cYi a vote i~: r::~uir~~~:. Tr!^
~tfi'~i 1~r;-.-~ f;i_v^ voL~ oi << r^~±~or3 ty of fi•i~e r;°,°r:;Ler~ cc,ti~tt~;~i:,ir,~M a. ~uc:r~~~;i~
- sh-t)1. b^ T-,~ee: r: ~o eor;:3~~c~ ; th~~ b::: :i n: ~ of' t:h~:. ~r:~:f•~er~,~~i.~ ~~•.~~o tc,~~.
B~ i97 ~~.5~6
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