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Agenda Packets - 2024/11/25
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Agenda Packets - 2024/11/25
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Last modified
1/28/2025 4:51:15 PM
Creation date
11/21/2024 11:05:05 AM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Agenda Packets
MEETINGDATE
11/25/2024
Supplemental fields
City Council Document Type
Packets
Date
11/25/2024
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such award is hereby condemned to the extent that it cannot, in Landlord's sole judgment, be <br /> economically restored within a reasonable time, Landlord shall have the option by notice given to <br /> Tenant within 30 days after the date of interference with possession, to terminate this Lease as of <br /> the date of such interference with 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 <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, <br /> then 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 <br /> to persons using the Building; <br /> (iii) Tenant shall file or have filed against it or any guarantor of this <br /> Lease any bankruptcy or other creditor's action, or make an assignment for the <br /> benefit of its creditors. <br /> If an Event of Default shall have occurred and be continuing, Landlord may at its sole <br /> option by written notice to Tenant terminate this Lease. Neither the passage of time after the <br /> occurrence of the Event of Default nor exercise by Landlord of any other remedy with regard to <br /> such Event of Default shall limit Landlord's rights. <br /> If an Event of Default shall have occurred and be continuing, whether or not Landlord <br /> elects to terminate this Lease, Landlord may enter upon and repossess the Premises (said <br /> repossession being hereinafter referred to as "Repossession") by force, summary proceedings, <br /> ejectment or 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 <br /> be 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 <br /> of Default. <br /> Landlord shall in no event be considered to be in default of Landlord's obligations <br /> hereunder until the expiration of a reasonable time after notice of default from Tenant. <br /> 8 <br /> 416585v5 SJR MU210-35 <br />
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