|
M
<br />C. Damages. Landlord may pursue any action or claim against Nextel for damages, whether or not Landlord
<br />tins terminated this Agreement as set forth above.
<br />d. Imposition of Late Fee; Interest. In the evert of any monetary default, a late fee of five percent (5%) of the
<br />amount: due shall automatically be assessed. If any monetary default continues for more than ten (10) days after the date such
<br />payment was due, Tenant shall pay interest on such sun in the amount of eighteen percent (18%) Per annum or the highest
<br />rate permissible by law, whichever is less.
<br />C. Remedies Cumulative. All rights, privileges and elections or remedies of Landlord set forth above are
<br />cumulative and not alternative, to the extent permitted by law and except as otherwise provided herein.
<br />This Agreement may be terminated without further liability on thirty (30) days prior written notice by'renant as follows: (i) if
<br />it does not obtain or maintain any license, permit or other approval necessary for the construction and operation of the Tenant
<br />Facilities; or (it) if Tenant is unable to occupy and utilize the Premises due to an action of the FCC, including without
<br />limitation, a take back of channels or change in frequencies; or (iii) by Tenant if Tenant determines during the Due Diligence
<br />Period that the Premises are not appropriate for its operations for economic or technological reasons, including, without
<br />limitation, signal inierforene.e.
<br />IL Destruction or Condemnation. If the Premises or Tenant Facilities are damaged, destroyed, condemned or transferred in
<br />lieu of condemnation, Tenant may elect to Terminate this Agreement as of the date of the damage, destruction, condemnation or
<br />hansf'er in lieu of condemnation by giving notice to Landlord no more than forty-five (45) days following the date of such damage,
<br />deshuction, condemnation at transfer in lieu of condensation. If Tenant chooses not to terminate this Agreement, Root shall be
<br />reduced or abated in proportion to the actual abatement of use of the Premises.
<br />12, Insurance. Tenant, at TenanNs sole cost and expense, shall pocure and maintain commercial general liability ("CGL')
<br />insurance covering bodily injury and property damage with a combined single limit of at least One Million and 00/100 Dollars
<br />($1,000,000.00) per occurrence. Subject to the standard exclusions and limitations of CGL policies, such insurance shall insure, on an
<br />occurrence basis, against all liability of 'Tenant, its employees and agents arising out of o in connection with Tenant's use of the
<br />Premises, all as provided for herein. Within thirty (30) days following the Effective Date, Tenant shall provide Landlord with a
<br />certificate of insurance ("COI") evidencing the coverage required by this Paragraph 12. Alternatively, Tenant shall have the option of
<br />providing Landlord with evidence of such coverage electronically by providing to Landlord a Uniform Resource Locator ("URL")
<br />Link to access Tenant's nnennouandum of insurance ("MOI') website in ode for Landlord to review the coverage required by this
<br />Paragraph 12.
<br />(b) Deleted. Section (c) was added to above Section.
<br />13. Waiver of Subrogation. Landlord and Tenant release each other and their respective principals, employees, representatives
<br />and agents, from any claims for damage to any person or to the Property or the Premises or to the Tenant Facilities or any other
<br />property thereon caused by, or that result from, risks insured against corder any insurance policies carried by the parties and in force at
<br />the time of any such damage. Landlord and Tenant shall cause each insurance policy obtained by them to provide that the insurance
<br />company waives all right of recovery by way of subrogation against the other in connection with ally damage covered by any policy.
<br />Neither Landlord nor Tenant shall be liable to the other for any damage caused by any of the risks insured against under any insurance
<br />policy required by Paragraph 12,
<br />14. Liability and Indemnity. Landlord and Tenant shall each indemnify, defend and hold the other harmless front and against
<br />all claims, losses, liabilities, damages, costs, and expenses (including reasonable attorneys' and consultants' fees, costs and expenses)
<br />(collectively "Losses") arising from the indemnifying party's breach of any term or condition of this Agreement or fion the gross
<br />negligence or willful misconduct of the indemnifying party or its agents, employees or contractors in or about the Property. The duties
<br />described in this Paragraph 14 shall apply as of the Effective Date of this Agreement and survive the termination of this Agreement.
<br />15. Assignment and Subletting. 'renant may not assign, or otherwise transfer all or any part of its interest in this Agreement or
<br />in the Premises without the prior written consent of Landlord; provided, however, that Tenant may assign its interest to its parent
<br />company, any subsidiary or affiliate of it or its parent company or to any successor -in -interest or entity acquiring fifty-one percent
<br />(51%) or more of its stock or assets, subject to any financing entity's interest, if any, in this Agreement as set forth in Paragraph 9
<br />10.15.2004
<br />
|