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CC RES 92-043 RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE THE LEASE TERMINATION AND MUTUAL RELEASE AGREEMENT AND AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE LEASE AGREEMENT WITH REGARD TO CITY PROPERTY LOCATED AT 2700 HIGHWAY 88 IN THE CITY OF S
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CC RES 92-043 RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE THE LEASE TERMINATION AND MUTUAL RELEASE AGREEMENT AND AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE LEASE AGREEMENT WITH REGARD TO CITY PROPERTY LOCATED AT 2700 HIGHWAY 88 IN THE CITY OF S
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RES 1992
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CC RES 92-043 RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE THE LEASE TERMINATION AND MUTUAL RELEASE AGREEMENT AND AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE LEASE AGREEMENT WITH REGARD TO CITY PROPERTY LOCATED AT 2700 HIGHWAY 88 IN THE CITY OF S
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results in the violation of any law, governmental regulation or insurance policy of <br /> Lessor relating to the Building or which will increase Lessor's insurance rates on the <br /> Building. <br /> 10. TAKING FOR PUBLIC USE. <br /> Lessee further agrees that if the Leased Premises, or any part thereof, or <br /> any part of the improvements of which they form a part, shall be taken for any street <br /> or public use, or shall during the continuance of this Lease be destroyed by the action <br /> of the public authorities, then this Lease shall thereupon terminate. Lessor shall be <br /> entitled to the full amount of any award or payment for the taking of the real estate. <br /> Lessee shall be entitled only to separate payments, if any, made for the loss of good <br /> will relating to Lessee's restaurant operation, Lessee's trade fixtures and payments <br /> made under applicable relocation regulations; provided that Lessee shall in no <br /> event be entitled to any part of the award for the taking of the real estate or <br /> leasehold estate. <br /> 11. DESTRUCTION BY FIRE. <br /> It is further agreed between Lessor and Lessee that if during the term of <br /> this Lease or any renewal hereof the Leased Premises or the improvements thereon <br /> shall be injured or destroyed by fire or the elements, or through any other cause, so <br /> as to render the Leased Premises unfit for occupancy, or makes it impossible to <br /> • conduct the business of Lessee thereon, or to such an extent that they cannot be <br /> repaired with reasonable diligence within one hundred twenty (120) days from the <br /> happening of such injury, then either party may terminate this Lease from the date <br /> of such damage or destruction, and Lessee shall immediately surrender the Leased <br /> Premises and all interest therein to Lessor, and Lessee shall pay rent only to the time <br /> of such surrender; and in case of any such destruction or injury Lessor may re-enter <br /> and repossess the Leased Premises discharged of this Lease, and may dispossess all <br /> parties then in possession thereof. But if the Leased Premises can be restored within <br /> one hundred twenty (120) days from the happening of the injury thereto, and Lessor <br /> within thirty (30) days from the occurrence of such injury elects in writing to so <br /> repair or restore the Leased Premises within one hundred twenty (120) days from <br /> the happening of the injury thereto, then this Lease shall not end or terminate on <br /> account of such injury by fire or otherwise, but the rent shall not run or accrue after <br /> the injury and during the process of repairs, and up to the time when the repairs <br /> shall be completed, except only that Lessee shall during such time pay a pro rata <br /> portion of such rent apportioned to the portion of the Leased Premises which are in <br /> condition for occupancy, then Lessor shall repair the same with reasonable <br /> promptness, and in that case the rent shall be reasonably adjusted to account for any <br /> diminished use or value to Lessee. <br /> -6- <br />
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