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6.B.(5) Real Estate Purcahse and Site Work Agreement
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6.B.(5) Real Estate Purcahse and Site Work Agreement
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10/1/2010 12:10:58 PM
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4/1/2009 12:19:25 PM
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8. Return of Property. Upon the termination of the Lease, Tenant shall be able to <br />remove any and all improvements, equipment, fixtures, or personal property from the Property as <br />Tenant, in its sole discretion sees fit. Since Landlord will demolish the Property at the end of the <br />Lease term, Tenant shall not be required to leave the Property in good condition and repair. <br />9. Termination Payment. As provided in the Purchase Agreement, upon delivery of <br />possession of the Property to Landlord on the Lease Termination Date, Landlord shall pay to <br />UPV in cash or other readily available funds, Two Hundred Five Thousand Dollars ($205,000). <br />10. Casualty Loss. If the Property is damaged or destroyed by fire or other casualty, <br />the Tenant may, but shall not be required to, terminate the Lease. If Tenant elects to terminate <br />the Lease, Landlord shall make the payment required under Section 10 as soon as practical, but <br />in no event later than thirty (30) days following the date of the fire or other casualty. Landlord <br />shall have no obligation to repair or rebuild the Property. <br />11. Landlord's Title. Landlord's title is and always shall be paramount to the title of~ <br />'Tenant, and nothing contained in this Lease authorizes Tenant to do any act which may <br />encumber the title of Landlord. <br />12. Si ~s. The Tenant may install and maintain appropriate signs on the Property. <br />"Tenant shall not be responsible for any damage to the Property caused by the erection, <br />maintenance or removal of such signs. <br />13. Landlord's Right to Enter. Upon reasonable notice, Landlord shall have the right <br />and ability to enter upon the Property and to perform any such tasks as are reasonably necessary <br />in preparation for the demolition of the building located on the Property at any time, so long as <br />Landlord's entry and performance of such tasks does not interfere with UPV's ability to conduct <br />its business as presently conducted. <br />14. Liability and Indemnification. <br />a. By Tenant. Landlord shall not be liable to Tenant for any damage or <br />injury to Tenant or Tenant's property arising out of or in any way related to the condition of the <br />Property. Tenant shall indemnify, defend and hold Landlord harmless against all liabilities, <br />losses, claims, costs, expenses and judgments of any nature arising from or in connection with <br />injuries to persons or damage to property arising from or connected with Tenant's use of the <br />Property. <br />
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