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Reso 98- 53
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Reso 98- 53
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Last modified
11/6/2015 12:07:34 PM
Creation date
1/25/2006 1:56:11 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
98-53
Date (mm/dd/yyyy)
05/28/1998
Description
Amend Lease for Office Space for SIB Government Ctr (Include Police).
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<br />. <br /> <br />, <br /> <br />N. Twenty-Third Paragraph: Operating Expenses. The language contained in the Base <br />Lease is modified and superceded as foJlows: For the entire term of the lease <br />agreement through September 30,2005, operating expenses wiJl be deemed included <br />in the base rental payments pursuant to this Addendum. <br /> <br />O. Twenty-Fourth Paragraph: Insurance. The language contained in the Base Lease is <br />modified and superceded as follows: The insurance carrier requirement wiJl be <br />amended to aJlow for Lessee to ONE MILLION ($1,000,000.00) DOLLARS in <br />commercial and general liability insurance and aJl risk property coverage for the entire <br />shopping center. AdditionaJly, upon fifteen (15) days written notice, Lessee shaJl <br />reimburse Lessor, and other tenants, all extra insurance premiums caused by Lessee's <br />use of the leased premises. <br /> <br />P. Twenty-Eight Paragraph: RepresentationslW arranties. The language contained in the <br />Base Lease is modified and superceded as follows: This paragraph will be deleted in <br />its entirety. <br /> <br />Q. Thirtieth Paragraph: Subordination. The language contained in the Base Lease is <br />modified and superceded as follows: Notwithstanding anything to the contrary set forth <br />herein, Lessor agrees to obtain and shaJl deliver to Lessee, a non-disturbance <br />agreement from any and all mortgagees to which the Lease is subordinated which shall <br />be binding on mortgagees, its successors and assigns and provide that so long as this <br />Lease shall be in fuJl force and effect: a) the Lessee shall not be joined as a defendant <br />in any proceedings which may be instituted to terminate or enforce the underlying lease <br />or to foreclose or enforce the mortgages; b) Lessee's possession and use of the leased <br />premises and the improvements in accordance with the provisions of this Lease and <br />Lessee's rights under this lease shall not be affected or disturbed by reason of the <br />subordination of the mortgage; c) Mortgagee shall subordinate and subject its rights, <br />if any, to any portion of the insurance proceeds otherwise payable to Lessor or Lessee, <br />to the extent necessary for Lessor and Lessee to comply with their obligation of repair <br />and restoration under this Lease and d) if Mortgagee or any purchaser at a foreclosure <br />sale succeeds to Lessor's interest in the property, mortgagee or such purchase shall be <br />bound by all of the terms and conditions hereof. If mortgagee or any successor in <br />interest shall succeed to the rights of the Lessor under this lease whether through <br />possession, surrender, assignment, subletting, judicial or foreclosure action, or delivery <br />of a deed or otherwise, Lessee will attorn to and recognize such successor landlord as <br />Lessee's landlord and the successor landlord will accept such attornment and recognize <br />Lessee's rights under this Lease, including without limitation, Lessee's right of <br />possession and use of the premises in accordance with the provisions of this Lease. <br />This clause shall be self operative and no further instrument of attornment and <br />recognition will be required. <br /> <br />R. Thirty-Second Paragraph: Mechanics Liens. The language contained in the Base Lease <br /> <br />Page 6 of 7 <br />
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