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No. 1081 approving a sublease of real property to the COSB
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No. 1081 approving a sublease of real property to the COSB
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Sub - lessee the right and option to purchase the premises at the <br />termination of this Agreement for an amount equal to Ten Dollars <br />($10.00). Should the Commission obtain full, indefeasible title to <br />the premises prior to the date of the termination of this agreement, <br />the Sub - lessee shall have the right and option to purchase the <br />premises, upon thirty (30) days written notice to the Commission to <br />purchase the premises for an amount equal to Ten Dollars ($10.00). <br />If the Sub - lessee has not exercised its option to purchase the <br />premises at the expiration of the term of the Sub -Lease and upon the <br />full discharge and performance by the Sub - lessee of its obligations <br />under this Sub - Lease, the Commission shall execute a deed of the <br />premises to the Sub - lessee conveying good and merchantable title <br />thereto, subject only to Permitted Encumbrances. <br />} Section 13. Defaults. If the Sub - lessee shall (a) default in <br />the payment of any rentals or other sums payable to the Commission <br />hereunder, or in the payment of any other sum herein required to be <br />paid for the Commission, (b) default in the observance of any other <br />covenant, agreement or condition hereof, and such default under (b) <br />shall continue for ninety (90) days after written notice to correct <br />the same, then, in any of such events, the Commission may proceed to <br />protect and enforce its rights, either at law or in equity, by suit, <br />action, mandamus or other procedings, whether for specific <br />performance of any covenant or agreement contained herein or for the <br />enforcement of any other appropriate legal or equitable remedy. <br />Section 14. Notices. Whenever either party shall be required to <br />give notice to the other under this Sub - Lease, it shall be sufficient <br />service of such notice to deposit the same in the United States mail, <br />in an envelope duly stamped, registered and addressed to the other <br />party at its last known place of business. <br />Section 15. <br />Successors or Assigns. All covenants of this Lease, <br />whether by the Commission or the Sub - lessee, shall be binding upon <br />the successors and assigns of the respective parties hereto. <br />IN WITNESS WHEREOF, the parties hereto have caused this Sub -Lease <br />
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