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No. 2065 approving acquisition of real property to facilitate the studebaker national museum relocation project and approving the execution of a ground lease and other related documents associated with studebaker museum relocation project (SBCDA)
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No. 2065 approving acquisition of real property to facilitate the studebaker national museum relocation project and approving the execution of a ground lease and other related documents associated with studebaker museum relocation project (SBCDA)
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10/18/2012 1:47:55 PM
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in writing, Ground Lessee agrees the Studebaker Museum and Improvement will only be used by <br />SNM as a public museum, with purposes generally consistent with those currently served by <br />SNM. <br />4.3 Severed Title. It is the express intention of Ground Lessor and Ground Lessee <br />that title to the Improvements is and shall remain severed from title to the Ground Lease <br />Premises so long as this Ground Lease is in effect. <br />Section 5. RENTAL. Ground Lessee shall pay to Ground Lessor the sum of One <br />Dollar ($1.00) per annum during the term hereof as rent ( "Rent "), which sum shall be due <br />annually in advance upon execution of the Ground Lease and each anniversary thereof during the <br />term hereof. Ground Lessee shall also pay all of the following: <br />(i) taxes levied upon or assessed against the Improvement during the Tenn; <br />(ii) taxes, assessments, charges and impositions of any municipal or governmental <br />authority which may be imposed or assessed against any of the NIHS Property, <br />including the Ground Lease Premises, as a result of the Improvement, use of the <br />Ground Lease Premises, or any loss of tax exempt status caused by Ground <br />Lessee, SNM or any use of the Improvement or Ground Lease Premises; and <br />(iii) utility charges, including installations, services, repairs and improvements, <br />imposed, assessed or incurred during the Term as a result of the Improvement or <br />Ground Lessee's use of the Ground Lease Premises. <br />Section 6. OWNERSHIP OF IMPROVEMENTS AND SURRENDER OF <br />GROUND LEASE PREMISES. <br />6.1 Ownership. Ground Lessee shall at all times during the Term have a valid ground <br />leasehold interest in and to the Ground Lease Premises, subject to the terms and conditions <br />contained in this Ground Lease. Upon the expiration of the Term hereof in accordance with <br />Section 2 hereof, or upon a valid termination as provided for herein, Ground Lessee shall be <br />responsible for removing the Improvement and restoring the Ground Lease Premises to the <br />condition existing as of the date of this Agreement or, if approved in writing by the Trustees of <br />Ground Lessor, Ground Lessee may leave the Improvement on the Ground Lease Premises so <br />long as it closes off the same in a permanent way that is acceptable to Ground Lessor. Upon <br />either removal or closing off of the Improvement, Ground Lessee shall use its best efforts to <br />restore the previously existing wall and structural elements of the Ground Lessor's building <br />(interior and exterior) and Center for History so as to cause such facility to be as it existed before <br />the Improvement was built. <br />If the Improvement is left in place and closed off with Ground Lessor's consent and as provided <br />for herein, Ground Lessee's rights in and to the Improvement shall continue so long as Ground <br />Lessee makes rental payments as provided for herein, performs all obligations of Ground Lessee <br />hereunder, and complies with all other terms of this Ground Lease. If the Improvement is closed <br />-3- <br />
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