02-23-2000 Council Agenda - Laserfiche WebLink

Home Browse Search

263317v1 which represents the entire amount of rent due and owing for the period from February 29, 2000 through May 15, 2000. Lessee shall have the right to terminate this Lease at any time before May 15, 2000 by giving Lessor written notice to such effect. In the event Lessee delivers such notice and vacates the Property before May 15, 2000, Lessor shall refund to Lessee within five (5) business days of the date of vacation an amount calculated by multiplying Seven and 89/100 Dollars ($7.89) by the number of days remaining between the date Lessee vacates the Property (not including the date of vacation) and May 15, 2000 (including May 15, 2000). 5. During the term of the Lease, Lessee shall hold Lessor harmless and shall indemnify Lessor as to any claims, damages or injuries resulting from Lessee's occupation and use of the Property. 6. During the term of the Lease, Lessee shall provide at Lessee's expense property insurance and general liability insurance. Property insurance shall be in an amount sufficient to protect building and contents on a replacement cost basis. Liability limits shall be a minimum of $100,000 per person and $300,000 per occurrence. The insurance shall remain in effect for the term of the Lease and written verification of insurance shall be provided to Lessor. Lessor shall be named as an additional insured on Lessee's general liability insurance and Lessee shall pay any resulting additional cost. Should any damage occur to the Property during the term of the Lease, any insurance proceeds shall be payable to Lessor. 7. During the term of the Lease, Lessee shall not enter into any sublease or allow any lien or interest to attach to the Property other than real estate taxes as set forth in paragraph 2. Lessee shall pay all expenses for the maintenance and use of the Property during the period of the Lease. 8. [TO BE REVISED BY DAVID ORENSTEINJ 9. During the term of this Lease, Lessor shall have the right to enter upon the Property for purposes associated with the redevelopment of the Property so long as said entry does not unreasonably interfere with Lessee's use and occupancy of the Property. Lessor shall deliver written notice to Lessee of each such entry not later than three (3) business days prior to each such entry. In addition, no entry into the interior of any improvements located on the Property shall be permitted without Lessee being present at the time of such entry. Potential entries on the Property may be associated with the preparation for removal of the buildings, soils exploration, surveying and other uses related to redevelopment. 10. This Lease shall inure to the benefit of and be binding upon Lessor and Lessee and their respective heirs, executors, legal representatives, successors and assigns. Page 120