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Reso 2003-604
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Reso 2003-604
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Last modified
7/1/2010 9:41:07 AM
Creation date
1/25/2006 1:57:26 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2003-604
Date (mm/dd/yyyy)
10/23/2003
Description
– Lease Agmt with RomaCorp (Tony Roma’s Restaurant) 18050 Collins Ave.
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<br />agrees to pay the difference to Landlord in cash (or cash equivalent) within 5 days after receipt of <br />a bill from Landlord. <br /> <br />ARTICLE 9 <br />EMINENT DOMAIN <br /> <br />9.1 Total Taking. If the entire Premises are taken under the power of eminent domain <br />by any public or quasi-public authority, this Lease shall terminate and expire as of the date of <br />such taking, and Tenant shall be entitled to make a claim for the loss of business and investment, <br />Landlord and Tenant shall each thereafter be released from any further liability accrued under <br />this Lease. In the event that Tenant shall have paid any rent for any period beyond the date of <br />such taking, Landlord shall reimburse same, pro rata. <br /> <br />9.2 Partial Taking. In the event that (i) more than 25% of the floor area of the <br />Premises, or of the parking area serving the Premises and owned by the Landlord, is taken under <br />the power of eminent domain by any public or quasi-public authority, (ii) by reason of any <br />appropriation or taking, regardless of the amount so taken, the remainder of the Premises is not <br />one undivided parcel of property, or (iii) as a result of any taking, regardless of the amount so <br />taken, the remainder of the Premises is rendered unsuitable for the continued operation of <br />Tenant's business, Tenant shall have the right to terminate this Lease as of the date Tenant is <br />required to vacate a portion of the Premises, by giving the other notice of such election within 30 <br />days after receipt by Tenant from Landlord of written notice that the Premises have been so <br />appropriated or taken. Landlord agrees immediately after learning of any appropriation or taking <br />to give to Tenant notice in writing thereof. In the event of such termination, both Landlord and <br />Tenant shall thereupon be released from any liability thereafter accruing hereunder. If Tenant <br />elects not to terminate this Lease, Tenant shall remain in that portion of the Premises not so taken <br />and Tenant, at Tenant's sole cost and expense, shall restore the remaining portion ofthe Premises <br />as soon as possible to a complete unit oflike quality and character as existed prior to such taking. <br />Landlord agrees to reimburse Tenant for the cost of restoration, but in no event shall Landlord's <br />obligation to reimburse Tenant for the cost of restoring the remaining portion of the Premises <br />exceed the amount of award of compensation that Landlord receives for a partial taking of that <br />portion of the Premises resulting in the need for restoration. So long as this Lease is not <br />terminated in the manner provided above, there shall be an equitable adjustment of the rent <br />payable by Tenant hereunder by reason of such partial taking. Tenant hereby waives any <br />statutory rights of termination which may arise by reason of any taking of the Premises under the <br />power of eminent domain unless Landlord is the .condemning authority. <br /> <br />9.3 Distribution of Award. The entire award or compensation in such eminent <br />domain proceeding, whether for a total or partial taking or for diminution in the value of the <br />leasehold or for the fee shall be distributed to Landlord, provided however, that Tenant may <br />apply for award of the value of Tenant's personal property, loss of income, relocation costs, <br />improvements and the value of the leasehold interest created hereby, according to the law in <br />effect in the jurisdiction where the Premises are located. This provision shall not apply if <br />Landlord is the condemning authority. <br /> <br />- 13 - <br />
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