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6C(4) Lease for 131 S. Michigan St
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6C(4) Lease for 131 S. Michigan St
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obligated to incur costs for such work in excess of the Condemnation Proceeds awarded or paid to Landlord and <br />remaining after. (y) Landlord's mortgagee has withheld any amount of the proceeds to which it is entitled, if any; <br />and (z) deduction for any expenses incurred in collecting the Condemnation Proceeds. If neither Landlord nor <br />Tenant elects to terminate this Lease pursuant to this Section 9.2, or if any Condemnation is temporary in nature, <br />then Basic Rent shall be abated proportionately (based upon the proportion that the that area Premises taken by, or <br />conveyed to, the condemning authority bears to the total space in the Premises) for each day that the Premises or any <br />part thereof is unusable by reason of the Condemnation. <br />ARTICLE X. <br />SURRENDER. <br />10.1. Surrender of Leased Premises. Except as herein otherwise expressly provided in this Article X, <br />Tenant shall surrender and deliver up the Premises, together with all property affixed to the Premises, to Landlord at <br />the expiration or other ternlination of this Lease or of Tenant's right to possession hereunder, without fiā¢aud or delay, <br />in good order, condition and repair except for reasonable wear and tear after the last necessary repair, replacement, <br />or restoration is made by Tenant, free and clear of all liens and encumbrances, and without any payment or <br />allowance whatsoever by Landlord on account of any improvements made by Tenant. <br />10.2. Removal of Certain Property. Al] furniture and business equipment furnished by or at the expense <br />of Tenant shall be removed by or on behalf of Tenant at or prior to the expiration or other termination of this Lease <br />or of Tenant's right of possession hereunder, but only if, and to the extent, that the removal thereof will not cause <br />physical injury or damage to the Premises or necessitate changes or repairs to the same. Tenant repair and restore <br />any injury or damage to the Premises arising from such removal so as to return the Premises the condition described <br />in Section 10.1 above, or alternatively, Tenant shall pay or cause to be paid to Landlord one hundred ten percent <br />(110%) of the cost of repairing or restoring injury or damage with such costs to be considered Additional Rent and <br />shall be deemed due and payable as of the date on which surrender by Tenant is required under this Lease. <br />10.3. Property Not Removed. Any personal property of Tenant which shall remain in or upon the <br />Premises after Tenant has surrendered possession of the Premises shall be deemed to have been abandoned by <br />Tenant, and at the option of Landlord, such property: (a) shall be retained by Landlord as its property; (b) shall be <br />disposed of by Landlord in such manner as Landlord shall deternline, without accountability to any person; or (c) <br />shall be removed by Tenant within three (3) business days at Tenant's expense upon written request from Landlord <br />or such Tenant fails to remove such property within such timeframe Landlord may remove such property at Tenant's <br />expenses, charging Tenant one hundred ten percent (110%) of the costs incurred by Landlord to remove said items, <br />which funds shall be due immediately upon notification of Tenant of such charges. Landlord shall not be <br />responsible for any loss or damage occurring to any property owned by Tenant remaining in the Premises after <br />Tenant surrenders possession thereof. <br />10.4. Survival of Ternls. The terms of this Article X and other ternis of this Lease referred to herein <br />shall survive any ternlination of this Lease. <br />ARTICLE XI. <br />DEFAULT. <br />11.1. E~~ents of Default. Each and all of the followni~ events shall be deemed an "Event of Default" by <br />Tenant under this Lease: <br />(a) Nonpayment. Tenant's failure to pay Basic Rent. Additional Rent, or other sums or charges that <br />Tenant is obli~~ated to pay by any pro~~ision of this Lease when due. <br />(bl Lapse of Insurance. Any failure to maintain the insurance coverages required to be maintained by <br />Tenant under this Leave. <br />(c) All Other Lease Violations. Tenant's failure to perform or observe any other covenant, condition, <br />or agreement of tlus Lease, which failure is not cured within thirty (30) days after the giving of notice thereof by <br />
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