Reso 1997-0008 - Laserfiche WebLink

Home Browse Search

be increased annually by five percent (5%) over the prior year's base rent. If there are no additional options contained in the Lease Agreement, the Lease shall be extended automatically for a one (I) year period unless Lessor has provided three (3) months' prior written notice to Lessee of their inlent to terminate the Lease and request that Lessee vacate. 7. Peaceful Eniovment. Lessee shall, and may peaceable have, hold and enjoy the Demised Premises subject to the tenns hereof and provided that Lessee pays the rental herein recited and performs all the covenants and agreements contained herein. Lessor represents that there are no uses of the shopping center which would adversely affect Lessee's quiet enjoyment of the Premises, and no condition exists which would interfere with Lessee's intent of the Premises. 8. Reoairs and Maintenance. Landlord shall keep the foundation, the outer walls, and roof of the building in which the premises are located, and the common areas of the shopping center's paving, electrical, mechanical, plumbing systems in good repair. Landlord will also maintain all elevators in good working order, and Landlord shall maintain the common areas at all times in good order, condition, and repair, Lessor represents to Lessee that the premises are in compliance with all federal, state and local laws. 9. ~. Landlord agrees to carry and maintain throughout the terms of the lease (I) commercial and general liability insurance naming tenant as an additional insured providing coverage of not less than $5,000,000.00, and combined bodily injury and property damage liability; and (2) "All Risk" Property Insurance covering fire and extended coverage, vandalism and malicious mischievous, sprinkler leakage, and all other perils of direct physical loss or damage insuring the building in which the premises lie. Upon written request by Lessee, Lessor shall promptly deliver to Lessee certificates of such insurance. Such insurance shall require Lessor's insurance carrier to notify Lessee at least fifteen (15) days in advance of the cancellation of a policy. 10. Eminent Domain. If the whole of the Premises shall be taken by any public authority under the power of eminent domain, then at the time of taking the term of this lease shall cease, and the rent due shall be paid up to that day. If any part of the premises or the common area of the shopping center shall be taken, and if such taking materially and adversely effects Lessee's use of the Premises, then the term of this lease shall cease and the rent due shall be paid up to that date. If such partial taking is not extensive enough to render the premises unsuitable for business of Lessee, then this lease shall continue in effect except that the minimum rent shall be reduced in the same proportion that the floor area of the premises taken bears to the original floor area demised. If this Lease is not terminated pursuant to this paragraph, Lessor shall, upon receipt of the condemnation award, make all necessary repairs or alterations to the building in which the premises are located so as to constitute the portion of the building not taken a complete architectural unit. Lessor shall not be required to spend for such work an amount in excess of the amount received by Lessor as damages for the part of the MIAMI:F:\DOCS\LMD\RE\64702.1 :8I1J191 () 1 :09am) 3