No. 2202 approving a form of lease for 117/119 E. Wayne Street and authorizing the execution/delivery thereof and other related matters

Home Browse Search

' 10.1. Surrender of Leased Premises. Except as herein otherwise expressly provided in this Article X, Tenant shall surrender and deliver up the Premises, together with all property affixed to the Premises, to Landlord at the expiration or other termination of this Lease or of Tenant's right to possession hereunder, without fraud or delay, in good order, condition and repair except for reasonable wear and tear after the last necessary repair, replacement, or restoration is made by Tenant, free and clear of all liens and encumbrances, and without any payment or allowance whatsoever by Landlord on account of any improvements made by Tenant. 10.2. Removal of Certain Property. All furniture and business equipment furnished by or at the expense of Tenant shall be removed by or on behalf of Tenant at or prior to the expiration or other termination of this Lease or of Tenant's right of possession hereunder, but only if, and to the extent, that the removal thereof will not cause physical injury or damage to the Premises or necessitate changes or repairs to the same. Tenant repair and restore any injury or damage to the Premises arising from such removal so as to return the Premises the condition described in Section 10.1 above, or alternatively, Tenant shall pay or cause to be paid to Landlord one hundred ten percent (110 %) of the cost of repairing or restoring injury or damage with such costs to be considered Additional Rent and shall be deemed due and payable as of the date on which surrender by Tenant is required under this Lease. 10.3. Property Not Removed. Any personal property of Tenant which shall remain in or upon the Premises after Tenant has surrendered possession of the Premises shall be deemed to have been abandoned by Tenant, and at the option of Landlord, such property: (a) shall be retained by Landlord as its property; (b) shall be disposed of by Landlord in such manner as Landlord shall determine, without accountability to any person; or (c) shall be removed by Tenant within three (3) business days at Tenant's expense upon written request from Landlord or such Tenant fails to remove such property within such timeframe Landlord may remove such property at Tenant's expenses, charging Tenant one hundred ten percent (110 %) of the costs incurred by Landlord to remove said items, which funds shall be due immediately upon notification of Tenant of such charges. Landlord shall not be responsible for any loss or damage occurring to any property owned by Tenant remaining in the Premises after Tenant surrenders possession thereof. 10.4. Survival of Terms. The terms of this Article X and other terms of this Lease referred to herein shall survive any termination of this Lease. ARTICLE XI. DEFAULT. 11.1. Events of Default. Each and all of the following events shall be deemed an "Event of Default" by Tenant under this Lease: (a) Nmpognent. Tenant's failure to pay Base Rent, Additional Rent, or other sums or charges that Tenant is obligated to pay by any provision of this Lease within five (5) days after notice to the Tenant that the same is due, provided that Landlord shall not be obligated to give Tenant notice of late payments more than one (1) time in any twelve (12) month period, and on the second time a payment is late it shall be an immediate Event of Default without notice or grace period. (b) Any failure to maintain the insurance coverages required to be maintained by Tenant under this Lease. (c) All Other Lease Violations. Tenant's failure to perform or observe any other covenant, condition, or agreement of this Lease, which failure is not cured within thirty (30) days after the giving of notice thereof by Landlord specifying the items in default unless such default is of such nature that it cannot be cured within such thirty (30) day period, in which case no Event of Default shall occur so long as the Tenant shall commence the curing of the default within such thirty (30) day period and shall thereafter diligently prosecute the curing of same; provided, however, if the Tenant shall default in the performance of any such covenant or agreement of this Lease more than onetime in any twelve (12) month period notwithstanding that such default shall have been cured by Tenant, the second and further defaults in said twelve (12) month period may be deemed by Landlord, in its sole discretion, an Event of Default without the ability for cure. -13- F.• IDATAMARE1LegallWpdata {SEP1Economic DevelopmentOillie'slState Cafe Mate Cafe Lease (version 5).doc