02-13-08 Council Agenda - Laserfiche WebLink

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Upon termination of this Lease for any reason, Tenant shall remove its equipment, personal property, Antenna Facilities, Equipment Building, and leasehold improvements from the Tower and the Property within sixty (60) days after the date of termination, and shall repair any damage to the Tower and the Property caused by Tenant, all at Tenant's sole cost and expense. Prior to the issuance of a building permit for the construction of the Antenna Facilities, Tenant shall provide a surety bond in the amount of $20,000 for removal of the Tenant's Antenna Facilities and restore the Property to its original condition prior to this Lease, normal wear and tear and casualty excepted. 8. Insurance. a. Tenant shall provide Commercial General Liability insurance coverage, including premises /operations coverage, independent contractor's liability, completed operations coverage, and contractual liability coverage, in a combined single limit of not Tess than One Million Dollars and No /100 Dollars ($1,000,000.00) per occurrence, and Two Million Dollars and No /100 Dollars ($2,000,000.00) aggregate, and name Landlord as an additional insured on such policy or policies. Tenant may satisfy this requirement by an endorsement to its underlying insurance or umbrella liability policy. b. Neither party shall be liable to the other (or to the other's successors or assigns) for any loss or damage caused by fire or any of the risks enumerated in a standard "All Risk" insurance policy, and, in the event of such insured loss, neither party's insurance company shall have a subrogated claim against the other. c. Tenant shall provide to Landlord, prior to the Commencement Date, evidence of the required insurance in the form of a certificate of insurance issued by an insurance company licensed to do business in the State of Minnesota, which includes all coverages required above and contains evidence of the waiver of subrogation contained above. Said certificate shall also provide that the coverage may not be cancelled, non - renewed, or materially changed without thirty (30) days' prior written notice to Landlord. 9. Damage or Destruction of Property. If the Property, Tower or Antenna Facilities are destroyed or damaged so as, in Tenant's judgment to hinder its effective use of the Antenna Facilities, Tenant may elect to terminate this Lease upon thirty (30) days' written notice to Landlord. In the event Tenant elects to terminate the Lease, Tenant shall be entitled to reimbursement of Rent paid subsequent to the date of damage or destruction in an amount that is proportional to the amount of damage or destruction incurred. If Tenant elects to continue this Lease, and if the damage or destruction to the Property, Tower or Antenna Facilities is caused by Landlord's negligence, then all Rent shall abate until the Leased Premises, Building and /or the Antenna Facilities are restored to the condition existing immediately prior to such damage or destruction 10. Condemnation. In the event the whole of the Property is taken by eminent domain, this Lease shall terminate as of the date title to the Property vests in the condemning authority. In the event a portion of the Property which directly impacts Tenant's use of the Property and is sufficient in Tenant's reasonable determination to render the Premises unsuitable for Tenant's use is taken by eminent domain, either party shall have the right to terminate this Lease as of said date of title transfer, by giving thirty (30) days' written notice to the other party. Sale of all or part of the Property to a purchaser with the power of eminent domain in the face of the exercise of the power shall be treated as a taking by condemnation. In the event of any taking under the power of eminent domain, Tenant shall not be entitled to any portion of the award paid for the taking and Landlord shall receive the full amount of such award, Tenant hereby expressly waiving any right or claim to any portion thereof. Although all damages, whether awarded as