HomeMy WebLinkAbout0766 XXIII
LESSEE'S RIGHT OF OFFSET
In the event claims or liens are made against the
leased premises, improvements thereon, or business operations
occurring therefrom, which arose or accrued prior to November 1,
1979, which are paid by~Lessee and which are not repaid
to Lessee by the prior Lessee, Bear's Nest, then Lessee may
deduct the amount of such claim or lien paid by Lessee from
the next rental payment due to Lessor under this Lease
Agreement.
XXIV
MISCELLANEOUS ~
S
A. By separate agreement, Lessee, Lessor and
Bear's Nest have entered into an Agreement for the sale
and purchase of the motel situated on the Leased Premises, now
known as Ramada Inn Oceanside, pursuant to which each party
has made certain representations, warranties, covenants
and promises which survive the closing thereof. In the event
Bear's Nest or Lessor breach any such representations, warranties,
covenants or promises, and such breach is not cured within
thirty (30) days of receipt of written notice thereof from
Lessee, then Lessee may terminate this lease agreement
upon an additional thirty (30) -days written notice to Lessor.
i
In the event Lessee breaches any such representation,
warranty, covenant or promise made under said Agreement to
Lessor or Bear s Nest, and such breach is not cured within
thirty (30) days of receipt of written notice thereof from `
Bear's Nest or Lessor, then Lessor may terminate this
lease agreement upon an additional thirty (30) days written
notice to Lessee. In the event of such termination by either
-party hereto, this lease agreement shall become null, void and
of no further legal effect, and each party shall be released _
from further liability hereunder, provided, however, that
~ such release shall not be deemed to be a release from prior
. obligations hereunder or from damages resulting from such a
breach.
BOA JJ1 PACE ~6
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