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Resolution 8700
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Resolution 8700
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6/25/2019 10:08:25 AM
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6/15/2017 10:35:39 AM
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MV City Council
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landlord shall not be entitled to any separate award made to Tenant for loss of business,relocation <br /> costs or the value of the cost of removal of stock and trade fixtures and any such award is hereby <br /> condemned to the extent that it cannot,in Landlord's sole judgment,be economically restored within <br /> a reasonable time,Landlord shall have the option by notice given to Tenant within 30 days after the <br /> date of interference with possession,to terminate this Lease as of the date of such interference with <br /> possession. <br /> 15. DEFAULT: <br /> Any one of the following events shall constitute an Event of Default: <br /> (i) Tenant shall fail to pay any annual installment of Rent as herein <br /> provided, or Tenant shall fail to pay for any hourly usage of the Premises within <br /> Fifteen(15) days of being invoiced; <br /> (ii) Tenant shall violate or fail to perform any of the other conditions, <br /> covenants or agreements herein made by Tenant and such default shall continue for 1 <br /> 30 days after notice from Landlord; provided, however, that if the nature of such <br /> default is such that Tenant can cure the default,but not within fifteen(15)days,then <br /> the Event of Default shall be suspended for a period not in excess of thirty (30) <br /> additional days so long as Tenant commences cure within fifteen (15) days and <br /> thereafter diligently and continuously prosecutes the curing of the default, and so <br /> long as continuation of the default does not create material risk to the Building or to <br /> persons using the Building; <br /> (iii) Tenant shall file or have filed against it or any guarantor of this Lease <br /> any bankruptcy or other creditor's action,or make an assignment for the benefit of its <br /> creditors. <br /> If an Event of Default shall have occurred and be continuing,Landlord may at its sole option <br /> by written notice to Tenant terminate this Lease. Neither the passage of time after the occurrence of <br /> the Event of Default nor exercise by Landlord of any other remedy with regard to such Event of <br /> Default shall limit Landlord's rights. <br /> If an Event of Default shall have occurred and be continuing,whether or not Landlord elects <br /> to terminate this Lease, Landlord may enter upon and repossess the Premises (said repossession <br /> being hereinafter referred to as "Repossession") by force, summary proceedings, ejectment or <br /> otherwise, and may remove Tenant and all other persons and property therefrom. <br /> No termination of this Lease shall relieve Tenant of its liabilities and obligations under this <br /> Lease, all of which shall survive any such termination or Repossession. In the event of any such <br /> termination or Repossession,Tenant shall pay to Landlord the Rent and other sums and charges to be <br /> paid by Tenant up to the time of such termination or Repossession <br /> In addition to all other remedies of Landlord, Landlord shall be entitled to reimbursement <br /> upon demand of all reasonable attorney's fees incurred by Landlord in connection with any Event of <br /> Default. <br /> 8 <br /> 416585v5 SJR MU210 35 <br />
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