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07-13-15 Agenda, Packet & Committee Meeting Notice
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07-13-15 Agenda, Packet & Committee Meeting Notice
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
7/13/2015
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all measures, including inspections, repairs, alterations, additions, and improvements to the <br />Premises or to the Building as may be necessary or desirable for the safety, protection, or <br />preservation of the Premises or the Building or the Landlord's interest therein, or as may be <br />necessary or desirable in the operation of the Building. The Landlord may enter upon the <br />Premises and may exercise any or all of the foregoing rights hereby reserved without being <br />deemed liable for an eviction or disturbance of the Tenant's use or possession and without being <br />liable in any manner to the Tenant. <br />14. Insurance. At all times during the Term, Landlord shall maintain the insurance <br />coverage detailed on Exhibit E attached to the Development Agreement. Tenant is not required <br />to maintain any insurance coverage on the Property. <br />15. Tenant's Estoppel Certificate. Tenant agrees that at any time and from time to <br />time, upon not less than ten (10) business days' prior written request by the Landlord, the Tenant <br />shall execute, acknowledge and deliver to the Landlord a statement in writing certifying that this <br />Master Lease is unmodified and in full force and effect (or, if there have been modifications, <br />stating the modifications, and that this Master Lease, as so modified, is in full force and effect), <br />the commencement and termination dates of this Master Lease, the date to which the rental and <br />other charges have been paid in advance, that the Tenant has no claims against the Landlord or <br />offsets against rent, and shall contain such other certifications which are reasonably requested <br />from Landlord by its prospective purchaser or prospective lender and approved in advance by <br />Tenant. It is intended that such certificate may be relied upon by the mortgagee or assignee -of <br />any mortgage on the Landlord's interest in the Premises. <br />16. Liens. Tenant may not do any act which in any way encumbers the interest or <br />title of the Landlord in the Premises or the Property, nor may the interest or title of Landlord in <br />the Premises or the Real Estate be in any way subject to any claim by way of lien or <br />encumbrance, whether by operation of law or by virtue of any express or implied contract by the <br />Tenant. Tenant may not permit the Premises or the Property to become subject to any <br />mechanics', laborers' or material men's liens on account of labor or material furnished, or <br />claimed to have been furnished, to the Tenant for or on the Premises or the Real Estate. At its <br />election, the Landlord may (but is not required to) after providing thirty (30) days advance notice <br />to the Tenant remove or discharge such lien, or claim for lien , and any amounts advanced by the <br />Landlord for such purposes shall be additional rent immediately due from the Tenant to the <br />Landlord. <br />17. Subordination. Upon request of Landlord, Tenant will, in writing, subordinate its <br />rights hereunder to the lien of any mortgage, ground lease or underlying lease now or hereafter in <br />force against the Premises, to all advances made or hereafter to be made upon the security <br />thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. <br />In the event any proceedings are brought to foreclose, under any mortgage made by the Landlord <br />covering the Premises, Tenant shall attorn to the Purchaser at such foreclosure, or to the grantee <br />of a deed in lieu of foreclosure, and recognize such purchaser or grantee as the Landlord under <br />this Master Lease. The provisions of this section to the contrary notwithstanding, and so long as <br />Tenant is not in default hereunder, this Master Lease shall remain in full force and effect for the <br />full Term hereunder. Within fifteen (15) business days after receiving a written request from <br />Landlord, Tenant shall execute and return to Landlord a Subordination, Non - Disturbance and <br />MASTER LEASE PAGE 6 <br />
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