Agenda Packets - 1999/01/11 - Laserfiche WebLink

Home Browse Search

rent" shall be due and payable as billed by Landlord. Landlord covenants and agrees that it will not do or permit anything to be done in or upon the Building or bring in anything or keep anything therein which shall cause the cancellation of Tenant's insurance policies, or increase the rate of insurance, on the Demised Premises, above the standard rate on said premises. Landlord further agrees that in the event it shall do anything to so increase the insurance rate,Landlord shall promptly pay to Tenant on demand any such increase resulting therefrom. 10.6 NOTICE. Tenant shall give immediate written notice to landlord and Landlord's Mortgagee of any damage caused to the demised Premises by fire of their casualty; or of any cancellation or reduction of Tenant's insurance coverage required pursuant to this Lease. ARTICLE XI-EMINENT DOMAIN 11.1 PARTIAL OR TOTAL CONDEMNATION. If the whole or any part of the Demised Premises or the structure encompassing same shall be taken by any public authority under the power of eminent domain, the Tenant shall have no claim to,nor shall Tenant be entitled to, any portion of any award, for damages or otherwise. In the event only a portion of the Demised Premises are taken,the Lease shall terminate as to the part taken, and the rent and other charges herein reserved shall be adjusted for the remainder of the Demised Premises so that the Tenant shall be required to pay for the balance of the term that portion of the rent reserved which the value of the Demised Premises immediately prior to the date of condemnation. The rental and other charges shall be apportioned as aforesaid by agreement between the parties or by arbitration or legal proceedings, but pending such determination the Tenant shall pay at the time and in the manner above provided the rental herein reserved and all other charges herein required to be paid by the Tenant, without deduction, and upon such determination,the Tenant shall be entitled to credit for any excess rentals paid. If, however,by reason of the condemnation there is not sufficient space left in the Demised Premises for the Tenant to reasonably conduct business; then, in such event,the Lease shall terminated. Although all damages in the diminution in value of the leasehold or the fee of the leased premises, nothing herein shall be construed to prevent Tenant to claim and recover from the condemning authority such compensation as may be separately awarded or recoverable by Tenant in Tenant's own right for its leasehold interest. ARTICLE XII-ASSIGNMENT AND SUBLETTING 12.1 CONSENT REQUIRED. Tenant may not assign this Lease and/or sublet the Demised Premises, or any part thereof without in each instance obtaining the prior written consent of the Landlord, which consent Landlord shall have the right to withhold in its sole discretion. A transfer of a controlling interest in Tenant shall constitute an assignment within the meaning of the preceding sentence. The consent by Landlord to any assignment or subletting may not constitute a waiver of the necessity for such consent to any subsequent assignment or subletting. This prohibition against assigning or subletting shall be construed to include a Page 9 DRAFT-- 12/15/98--CHS Lease agreement