HomeMy WebLinkAbout2696 13. The terms, condition• and covenants of this lsase !
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ahall be bindinq upon and shall inura to ths benefit of sach o! the
partie• hersto, thsir hsirs, psrsonal rsprssentativea, succsssors,
sub-leasses, or assigns, and ~hall rnn with ths land.
14. In ths sven~ the damised prsmisss ~hall ba taken
by or pursuant to any govsrnmental authority or throuqh the ex'rciae
of th~ right of eminsnt domain, or in ths svent any part of the
desissd premi~es or any intereat therein, including but not limitsd
to the riqht of free access to ths deaiissd premisas, after the taking
or interference, in the opinion of the I.~ss•e• i• not snitabls for
the operatfon contemplated by this lease, than the Lessses may, at
their option, tsrminate the leass without further liability, or
Leasees may continue in possession of the remaining portion of the
c3emiaed premises, in which event the fixed rent herein providad for
shall be reduced in proportion to the reduction in the utilizable
area of the premises. Should the parties be unable to aqree upon
the amount of such reduced rental it shall be detes~mined by binding
arbitration before a board of arbitration caneisting of one person
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~ appointed by Lesaora, one pereon appointed by Leesees, and a third
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~ arbitrator selected by the two appointees. Nothinq herein shall be
~ d aemed a waiver of the sole right of the Lesseea to any award for
damagea to them or their leasehold intereet caused by auch govern-
mental takinq, ~?rhether made eeparately or as a part of a qaneral
fund. In the event of any such takinq of a portion of the dsa~ised
premisea the purchase price of $55.000.00 aet forth in paragraph 11
hereof, and the maxiarum psrsonal liability of Lesseea in ths amount
of $55,000.00 as set forth in paragraph 15 hereof ~hall each be re-
~ duced by the amount of any arta~cd received by the Le4~ors for such
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15. Anythinq in this lease to tha contrary notwithatand- ~
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inq the total pereonal liability of the Lesseee hereunder for tha ;
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