My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
5A(1) Lease for 131 S. Michigan St
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2010
>
10-01-10 Packet
>
5A(1) Lease for 131 S. Michigan St
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/1/2010 9:27:26 AM
Creation date
9/29/2010 8:21:43 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
33
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
this Section 11.2(a) without any notice to Tenant if Landlord, in its good faith judgment, believes that it or the <br />Premises would be materially injured by failure to take rapid action or if the unperformed obligation of Tenant <br />constitutes an emergency. <br />(b) Termination of Lease. Landlord may terminate this Lease, by written nonce to Tenant, without <br />any right by Tenant to reinstate its right by payment of Rent due or other performance of the terms and. conditions <br />hereof. Upon such termination, Tenant shall inunediately surrender possession of the Premises to Landlord, and <br />Landlord shall, in addition to all other rights and remedies that Landlord may have, immediately become entitled to <br />receive from Tenant: (i) an amount equal to the aggregate of all Basic Rent and Additional Rent which then remains <br />due to Landlord but unpaid by Tenant; (ii) reasonable costs and expenses incurred by Landlord in connection with a <br />re-entry or taking of possession of the Premises; (iii) reasonable costs and expenses incurred by Landlord in <br />connection with making alterations and repairs for the purpose of reletting the Premises; (iv) reasonable attorneys' <br />fees; (v) the unamortized value of the Construction Allowance, if any. <br />(c) Termination of Possessory Rights. Landlord may terminate Tenant's rights to possession of the <br />Premises without terminating this Lease or Tenant's obligations hereunder and Tenant shall continue to be obligated <br />to pay all Basic Rent and Additional Rent which then remains due to Landlord but unpaid by Tenant and Tenant <br />shall continue to be obligated for future Basic Rent and Additional Rent as the same comes duo under this Lease. <br />(d} Acceleration of Rent. Landlord may, whether it terminates the Lease or Tenet's possessory <br />rights to the Premises, accelerate and declare immediately due all of the Basic Rent and Additional Rent (as <br />reasonably estimated by Landlord) that otherwise would have been due from the date of the Event of Default <br />through the stated expiration date of the Initial Term or any Extended Term, the option for which has been <br />exercised. <br />(e) Rent Minus Fair Market Value. Landlord may declare immediately due and payable from Tenant, <br />in addition to any damages or other amounts becoming due from Tenant under any other provision of this Lease, an <br />amount equal to the difference between the Basic Rent and Additional Rent reserved in this Lease from the date of <br />the Event of Default through the stated expiration date of the Initial Term or any Extended Term, the option for <br />which has been exercised, and the then-fair market value of the Premises for the same period. <br />{f) Other Remedies. Pursue any legal or equitable remedy allowed by applicable laws of the State <br />11.3. Failure to Surrender. If Tenant fails to surrender the Premises upon expiration of the Term or <br />earlier termination of the Lease pursuant to Section 1.1.20, or tetminaiion of Tenant's possession rights, the <br />provisions of Section 3.3 shall apply, and Landlord may, without further notice and ~a~ith or without process of law, <br />enter upon and re-enter the Premises and possess and repossess itself thereof, by force, summary proceedings, <br />ejecfirnent or otherwwise, and may dispossess Tenant and remove Tenant and all other persons and property from the <br />Prenuses and may have, hold and enjoy the Premises and the right to receive alI rental and other income of and from <br />the same. <br />11.4. Reimbursement of Landlord's Costs in Exercisine Remedies. Landlord may recover from Tenant, <br />and Tenant shall pay to Landlord upon demand, such reasonable and actual costs and expenses as Landlord may <br />incur in recovering possession of the Premises, placing the same in good order and condition and repairing and <br />altering the same for reletting; and all other reasonable and actual costs and expenses, commissions and charges <br />incurred by Landlord in reletting and otherwise exercising any remedy provided herein or as a result of any Event of <br />Default by Tenant hereunder (including, r~~ithout limitation, reasonable attorneys' fees). <br />11.5. Remedies .Are Cumulative. '_vo right or remedy herein confened upon or resen~ed to Landlord is <br />intended to be exclusive of any other right or remedy herein or by law provided, but each shall be cumulative and in <br />addition to every other right or remedy given herein or now or hereafter existing at law or in equity or by statute. <br />11.6. Counterclaim. If Landlord commences any proceedings for non payment of Rent, Tenant ~nll not <br />interpose any counterclaim of any nature or description in such proceedings. This shall not, however, be conshlied <br />as a waiver of Tenant's right to assert such claims in a separate action brought by Tenant. The covenants to pay Rent <br />
The URL can be used to link to this page
Your browser does not support the video tag.