Reso 2010-1658 - Laserfiche WebLink

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Section 3. Full Take. If all or any portion of the Land shall be taken by the exercise of the right of eminent domain for governmental occupancy for a limited period, this Lease shall not terminate, and Tenant shall continue to perform and observe all of its obligations hereunder as though such taking had not occurred except only as to the extent that it may be prevented from so doing by reason of such taking. Tenant, however, shall not be excused from the payment of Basic Rent and all other sums and charges required to be paid by Tenant under this Lease, provided that such payments shall be deferred until (i) the date Tenant receives the proceeds from such temporary taking, or (ii) one hundred eighty (180) days after the occurrence of the taking, whichever shall first occur, at which time all such deferred rent shall be due and payable. In the event of such a temporary taking, Tenant shall be entitled to receive the entire amount of any award made for such taking (whether paid by way of damages, rent or otherwise) and Landlord hereby assigns such award to Tenant unless the period of governmental occupancy extends beyond the termination of the Term of this Lease, in which case the award shall be apportioned between Landlord and Tenant as of the date of such termination and, in such apportionment, Landlord shall receive the full amount, if any, of any portion of said award which represents the cost of restoration at the termination of any such governmental occupancy. Tenant covenants that at the termination of any such governmental occupancy, it will, at its sole cost and expense, restore the building as nearly as may be reasonably possible to the condition in which the same was prior to such taking, but Tenant shall not be required to do such restoration work if on or prior to the date of such termination of governmental occupancy, the Term of this Lease shall have terminated, in which event Tenant shall not be entitled to any part of the award representing the cost of such restoration. ARTICLE XV Quiet Enjoyment Subject to the matters set forth in Article I, Landlord represents to Tenant that, so long as Tenant performs its obligations under this Lease and is not in default hereunder after the expiration of all applicable notice and cure periods, Tenant shall peaceably have and enjoy the Land. ARTICLE XVI Effect of Termination; Surrender of Possession Section 1. Failure to Commence Construction. The Parties do hereby and agree that in the event the Tenant fails to commence construction (defined to be substantially more improvement to the site than site preparation) within sixty (60) days of issuance of a building permit and the execution of this Ground Lease by both Landlord and Tenant, the Landlord shall have the right, but not the obligation to terminate this Ground Lease by providing written notice of it's intent to Tenant no less than ten (10) days prior to the effective date of the termination. Section 2. Ownership of Improvements. Tenant hereby covenants and agrees that at the expiration of the Term (by its own terms or any earlier termination upon a default or otherwise 23 U:\City Attorney\HANS\20 I 0 Documents\4m Investors\GROUND LEASE WORKING DRAFT 11.16.1 O.doc