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HomeMy WebLinkAboutScan_1220 20 ~ -------., . t . . .: . ~ ~ ....-.. '~~;~:::~L~i:t~~~~~.~~~~ termine the 'Yalue of the buildings to b. 80 torn dOWD. deetroyed. re1llOved or altered. am ln 8uoh e'Yent the flnding 80 mad. b1 eaid arbltratore thall be binding upon the leeeo18 and the le8eeee herein. A.ll bulldill88 end permaDen t impro'Yement8 plaod upon the abon desoribed propert~ 8baU. ae eoon a8 OGllltttruottd or plo.oed thereon. unleeo otherwUe pro'Ylded herein. 1l1l1D8d1ate ly beoome a part of the real e8tate hereln and htlreb1 demised. and the title and ownerah1p thereof ehallll111ledlately merge with the legal title to 8aid real estate. and 1n the event of forfeiture or termlnation of this lea8e for :lD1 oaU8e whateoever. aa14 bul1cHngs or 1m- provements shall. without oompensation to the leoseea or to allY other peraon Immediate11 re- 'Yert to the le8eon In the eame DBnner a8 the buildlngs am improyementa. it aIll'. now 8it- uated UpoD the aboye de80rlbed propert1. In the e'Yent that euit shall be brought for the oolleotlon of rent hereunder. or for the oolleot iOD of taxe8 or a08eeemen te, or b1 reaBon of the M lure of lea8ee. to perfor an1 of the ooY.nante or agreemente herein oonta 1ned, 8lld Judgment eball be rendred In favor of the leesors. then In suoh ennt. the le88ee8 shall pa1 to the leseors all cost8 of suoh 8ult. Inoluding rea80nable attorneys' fees. 1.11 ren fa Ithioh IIl81 beoome due and payable. and whlch shall not be paid at maturl q. shall bear interett from date of maturlt1 at elght per oent per annum. and 1n the event that the leS8888 shall fall to P81 aD)' sum hereln and hereb1 a8sumed b1 tho les8e88 (other than r nt) .hlob shall be a oharge against 8ald property herelD and hereby 1888ed. .and whIch ahall then and there be past due and pa1able. and in the event that the le8a01'8 shall eleot to P&f Buch. amount. then the le88ees herein shall reimburse the les80r8 for euoh payment. together Itith intere8t at the rate ot elght per oent per annum from the dah of maklng said payment to the date that the eame is repald. and in the event that the lessees shall not repay the le080r8 withln thlrt,y da~ after notioe shall be giyen to the leooees informing them of the faot tba the lea80ra have aade suoh payment. and requirlng the le8seos to reimbur8ft the le8sors. theD and In such event, thlo InatrumeDt ahall beoome null and ,"oid. and the le88018 shall be ful- ly authorized and empowered to enter upon above descrlbed premise8 and retake posseasion of same 1\'1th or ....1 thout Judioial proces8. rt Is under8tood and agreed that no waiver of anw oonditlon or agreement In thi8 Instrument oontained. or aoquiesoence in any breach thereof. shall be taken to constitute a waiyer of any subsequent breaoh. and that no damage to or deotruct10n of any build1ng on the premise. b1 fire. or other",l... oball be taken to entitle the le8see8 to surrender the de- mised premises. or to reduoe or suspend the paymeD t of rent; neither ahall the eame have the effeot ot termInating this lease. The lessees herein are hereby ghen full power and lawful authori1iY to 8ublet 8qv portlon of the above desoribed premiaes. it being understood and aEreed hcwever, ~hat by 80 doing the leese'8 do not relieye themselvea from any l1ab1litT to care for and proteot sa14 property herein speolfioally dn1gnated; neither do they in allY wa)' relieve themselY88 from any liabIl1t1 for the payment of rente. taxes. insuranoe premiume or aaoe8smen:.0 for publio ImprO'Yements; aoS provlded furtherlOO1'8 the rlghts 0 t all sub-tenant8 SDd perooUl, ~ho -1 hereafter olaim poue08ion of any portion of the propert1 herelD and hereby demised under lease or rental agreemen t8 exeouted by the lee.e.. han in under the tera. and oondi tiollt 0 f thU loa.e. dl.ll terminate UpoD the oanoellation and awml..nt of th18 lea... The 188lee~ hereln furtherlDOn obli~te an4 bind themsel'Ye8 to atand between the le880l'8 and aQ1 tenant now 00cup11ng said prem18es. or 801 tenant who may hereafter ooouP7 the same. or allY portion thereof. In 801 auit or ola1.al tor damage. that IIl8J be broqht on b, ~. ~~~~:~::.~.,~<:~ ~~:).~:~ :~~:.~: ~~~>~~~\;~~.:::;{'~" ..- D J ) ) ] .~J