08-27-2003 Council Agenda - Laserfiche WebLink

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to act, in or about the Property by Tenant or its agents, employees, invitees or contractors, or from any breach or default by Tenant of this Lease, except to the extent caused by the negligence or willful misconduct of Landlord or Landlord's agents, employees or contractors. In the event any action or proceeding shall be brought against Landlord by reason of such claim, Tenant shall defend the same, at Tenant's expense, by counsel appointed by Tenant's insurer, and if no insurer or insurance coverage exists with respect to such claim, then by counsel reasonably satisfactory to Landlord. Notwithstanding the above, Landlord and Tenant shall release each other from all claims to the extent covered or required hereunder to be covered by insurance. 12. Landlord Indemnifies Tenant. Landlord hereby indemnifies and holds Tenant harmless from and against any and all claims, demands, liabilities and expenses, including reasonable attorneys fees, arising from any act negligently permitted, and/or negligent omission to act or willful misconduct, in or about the Property, by Landlord or its agents, employees or contractors, or from any breach or default by Landlord of this Lease, except to the extent caused by the negligence of willful misconduct of Tenant or Tenant's agents, invitees, employees or contractors. In the event any action or proceeding shall be brought against Tenant by reason of such claim, Landlord shall defend the same at Landlord's expense by counsel appointed by Landlord's insurer, and if no insurer or insurance coverage exists with respect to such claim, then by counsel reasonably satisfactory to Tenant. 13. Subordination. This Lease and Landlord's interest herein and ownership rights to the Property are and shall remain subordinate in all ways to any and all Mortgages encumbering the Property and /or Community. Landlord shall execute any documents required by any mortgage lender to evidence such subordination and shall consent to the recording, in the appropriate recording office, of any documentation from such mortgage lender regarding the subordination of Landlord's rights. 14. Hazardous Substances. Neither Landlord nor Tenant shall cause or permit any hazardous substance to be used, stored, generated or disposed of on or in the Property and the party who breaches this provision will indemnify the other for any cost, claims, remediation or any other liability which arises from such breach. 15. Eminent Domain. In the event that any part or all of the Property or Community shall be taken by any public authority under the power of eminent domain, then the Lease shall cease as of the date possession shall be taken by such public authority. All damages awarded for such taking under the power of eminent domain shall belong to, and be the property of Tenant whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the Property. 16. Assignment and Subletting. Tenant shall be entitled to assign its rights in this Lease to any purchaser or title holder of the Community without the consent of Landlord. Landlord shall not assign its interest in the Property or this Lease without prior written consent of Tenant. Provided, however, if the proposed assignee is a municipal entity with authority or jurisdiction over the Property and Community, such consent shall not be unreasonably withheld. 17. Surrender on Termination. Upon the termination of this Lease, Tenant shall have the option to purchase the Property for the sum of One and 00 /100 ($1.00) Dollar. Simultaneously upon execution of this Lease, Landlord shall execute a warranty deed for the Property which shall be -3- [NSE Storm Shelter Lease_v I DOC from Mathie (78342).DOC][08/22/03/BLMJ - 1 2 -