HomeMy WebLinkAbout2078 period of governmental occupancy extends beyond the tenn of thi~
Lease, in which case the award to the extent t2~at it represents
rent shall be apportioned between the Lessor and Lessee as of
covenants that at the tennination of any such governmental
occupancy, it will, at its eost and expense, restore the improve-
ments on the Demised Premises in as good condition as when new,
but the Lessee shall not be required fio do such restoration work
if on or prior to the date of 5u~j: tcrmination of governmental
oceupancy the term of this Lease shall be ended.
(7) Proration. In the event of the termination of this
~ Lease in full or as to any portion of the Demised Premises as a
result of a total or partial taking by an eminent domain pro-
ceeding, the Lessee shall pay to the Lessor all rent and all other
charges payable by Lessee with respect to the Demised Premises or
part thereof so taken justly apportioned to the date of taking.
b. As to the Lesseets Premises. If, during the term of this
Lease there shall be a taking of all or a portion of the lands
described in the Declaration of Condominium of COLONNADES CONDO-
h1iNIUMS NO 11 , the following shall apply:
(1) Certain Takings Not Included. Neither a taking of less
than fee simple title nor a taking of ten (10;7 per~ent or less
of the apartment units contained upon said lands immediately prior
to the time of taking shall be construed or considered as a taking.
For the purpose of this paragraph, a taking of an apartment unit shall
}~ave occurred where at least sixty (60°07 percent of the floor space
thereof has been taken.
(2) Total Taking. If such taking shall involve the taking
of all of the apartment units contained upon said lands immediately
prior to the time of taking, this Lease shall terrr?inate, effective
; as of the date of taking.
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~ (3) Partial Taking. If the taking be greater than described
in Paragraph 15 b(1) and less than the taking described in paragraph
~ 15 b(2), above, the rent provided in paragraph 4 shall be reduced
4 effective as of the date of taking, by a percentage figure equal to
~ the percentage interest in the common elements and in the common
~ surplus, provided, however, that all other provisions of this Lease
> shall remain in full force and effect.
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16. Cormiencement of Obligations of Lease and Delivery of Possession.
~ The obligation of the Lessor and of the Lessee pursuant to the ~e~ns and
; provisions hereof, and right to possession and use of the Demised Premises,
~ shall commence as of the date of cor~nencement of the term hereby created.
~
~ 17. Security. For the purpose of securing unto the Lessor the
~ payment of the rent herein provided for, as well as the payment of any
~ other sums due and payable the Lessor by reason of the teMns and provi-
~ sions hereof, or by reason of any advancements made to or on behalf of
the Lessee by the Lessor, as well as for the purpose of securing the
perfonnance of each and every one of the covenants of the Lessee herein
contained for the use and benefit of the Lessor, the Lessee does hereby
grant unto the Lessor the following described liens which shall be ;
~ cumulative, provided, the Lessor may exercise one or more of the said j
= liens without thereby waiving the others, or may exercise all simulta_ :
s
neously. ~
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a. Lesseets Interest. The Lessee does hereby oive and grant unto
. the Lessor a continuing first lien paramount and superior to all
others upon all of the right, title and interest of the Lessee :
~ in and to this Lease and the Demised Premises.
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;;~3 b. Lessee's Assets. The Lessee does hereby give and grant unto
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