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07-28-14 Council Agenda & Packet
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07-28-14 Council Agenda & Packet
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
7/28/2014
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ARTICLE IX <br />ASSIGNMENT AND SUBLETTING <br />9.1 Right to Assign or Sublet. Lessee shall not (a) assign this Lease or any <br />interest therein, (b) sublet the Premises, or any part thereof, or (c) permit any other party to <br />operate or conduct a business on, in, at or from the Premises, without the prior written consent of <br />Lessor. Any transfer of this Lease by operation of law (by a change of control, merger, <br />consolidation or liquidation of Lessee or otherwise) shall constitute an assignment for purposes <br />of this Lease. No assignment or subletting shall release Lessee from any of its liabilities or <br />obligations under this Lease. <br />ARTICLE X <br />MORTGAGE SUBORDINATION• ESTOPPEL CERTIFICATES <br />10.1 Subordination. Upon written request or notice by Lessor, Lessee agrees to <br />subordinate its rights under this Lease to the liens of any mortgages that may now or hereafter be <br />placed upon the Building and the Premises, and to any and all advances to be made thereunder, <br />and all renewals, replacements and extensions thereof and to attorn to a purchaser upon <br />foreclosure or a conveyance in lieu thereof, provided such mortgagor or purchaser agrees to <br />recognize Lessee and not to disturb Lessee under this Lease, provided Lessee upholds the terms <br />and conditions of this Lease. Lessee shall execute a subordination agreement in furtherance <br />thereof consistent with the terms and conditions hereof. <br />10.2 Estoppel. Upon request or notice of Lessor, Lessee agrees to execute an <br />estoppel certificate certifying to Lessor, Lessor's mortgagees or a purchaser of the Building <br />within which the Premises are located that this Lease is in full force and effect, that this Lease <br />has not been modified altered or amended except as specified therein, that no event of default has <br />occurred and that rent has not been paid more than thirty (30) days in advance. <br />ARTICLE XI <br />DEFAULT <br />11.1 Defaults by Lessee. Upon the happening of any one or more of the <br />following events (the "Event(s) of Default "), Lessor may terminate this Lease and /or exercise, <br />enforce or recover any other right, remedy or damages available under this Lease, at law or in <br />equity: (a) the failure of Lessee to pay an installment of rent within ten (10) days after the <br />installment becomes due, without any notice; or (b) the failure of Lessee to perform any other of <br />its covenants or satisfy any other of its obligations under this Lease within thirty (30) days after <br />written notice. <br />11.2 Remed . Upon the occurrence of an Event of Default, Lessor may <br />re -enter the Premises, without terminating the Lease or accepting a surrender and with or without <br />process of law, using such force as may be necessary, and remove all persons and property <br />therefrom, and Lessor shall not be liable for damages or otherwise by reason of such re -entry or <br />termination of this lease. In addition to all other obligations of Lessee, Lessee shall be liable for <br />the cost of seizure and repossession of the Premises and reasonable attorney's fees incurred as a <br />result of the seizure and repossession of the Premises. Lessor may, at any time after the <br />in <br />US.54381124.05 <br />
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