HomeMy WebLinkAbout132522. EFFF.CT OF LESSOR'S WAIVER
OR LESSEE' S [,IAIVER
Lessor's waiver of breach of one covenant or condition
of this Lease, or Lessee's waiver of breach of one coveriant or
condition of this Lease, is not a waiver ~f breach ~~ others.
or of subsequent breach of the one waived.
23. LESSEE'S RIGHT OF LEASE RENEWAL ~
In co~sideration of the Lessee's financial commitment to
the demis~d premises in the form of the improvements by it
previously described~ the Lessee shall have the right to renew
this Lease on an annual basis for the next succeeding five (S)
~ years. Upon each renewal the rental ainount shall be increased
by the percentage by which the standard cost of living index
has increased as determined by the Federal government of the
United States of America for the 12-month period next Freceding
the renewal date. Sal,es tax shall be paid by the Lessee on each •
renewal amount, but sales tax shall not be included in the rental
amount for the'purpose of calculating the renewal increase. The
other terms, covenants and conditions of the renewal Lease shall
be the same as those contained herein. The Lessee's right of
renewal as.set forth herein shall be specifically binding on any
and all successors in interest of and to the Lessor, regardless
of by what means, including, but not limited to, the heirs, legal
representa~ives, grantees, donees and assigns of the Lessor.
Further, upon any gift, sale or other transfer of ~ny interest
in the whole or any part of the demised premises the Lessor shall
obtain the joinder of the grantee, assignee, donee or other
transferee as a party Lessor to this Lease.
Ih WITNESS ~,1HEREOF, the parties hereto have hereunto executed "
this instrument for the purpose herein ex~ressed,
year being the ~-r~ day of ~~~ ,c ,
the day and
1981. F
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'. ~Seal)
Ray en ers ot
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Signed, sealed and delivered
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