Reso 2010-1658 - Laserfiche WebLink

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pursuant to the terms hereof) the sole ownership of the Improvements and the right to their possession and use shall automatically pass to and be in Landlord without payment or consideration of any kind. Although these provisions are intended to be self-executing, Tenant hereby agrees, upon expiration of such period, to execute any further deed or document requested by Landlord to confirm Landlord's sole ownership of and fee simple title to the Improvements and Tenant's grant and conveyance thereof to Landlord hereby made. All costs of such transfer shall be paid by the Landlord. Section 3. Leasehold Estate. Tenant's ownership of the Leasehold Estate created hereby and of the estate or interest in the Improvements shall be nonseparable. Subject to the provisions of Articles XVIII , any attempt to transfer or encumber Tenant's estate or interest in the Improvements shall be a default under this Lease, and void and ineffective, unless Tenant's leasehold interest created by this Lease shall be simultaneously transferred to the same transferee or simultaneously identically encumbered to the same encumbrancer and (in the case of an encumbrance of the Improvements) unless such encumbrance of the Improvements shall, by its terms, be valid only until the termination or expiration of the Term of this Lease. Likewise, any attempt to transfer or encumber Tenant's Leasehold Estate created by this Lease shall be a default by Tenant under this Lease, and void and ineffective, unless Tenant's estate or interest in the Improvements shall be simultaneously transferred to the same transferee or simultaneously identically encumbered to the same encumbrancer. Under no circumstances shall any "easement by necessity" or other similar right be created or spring into effect in favor of any person should Tenant attempt to transfer ownership of the Improvements or the Leasehold Estate created hereby in violation of this Section. Section 4. Surrender of Premises. Tenant shall and will on the last day of the Term hereof or upon any earlier expiration or termination of this Lease, surrender and deliver up the Land and all Improvements into the possession and use of Landlord without fraud or delay and, subject to the provisions of Articles XVIII of this Lease, in the condition and repair required of Tenant hereunder. Section 5. Responsibility at Termination of Lease Upon the termination of this Lease, Tenant shall have the right to remove all furniture, furnishings, trade fixtures, equipment, supplies, inventories and other personality whatsoever brought upon and/or installed on the Land by Tenant. Section 6. Abandonment of Personal Property. Any personal property of Tenant or any sublessee or space lessee which shall remain on the Premises and Improvements, or any part thereof, sixty (60) days after the termination or expiration of this Lease and the removal of Tenant or such sublessee or space lessee from the Land and Improvements may, at the option of Landlord, be deemed to have been abandoned by Tenant or such sublessee or space lessee and either may be retained by Landlord as its property or be disposed of without accountability, in such manner as Landlord may see fit. 24 U:\City Attorney\HANS\20 I 0 Documents\4m Investors\GROUND LEASE WORKING DRAFT 11.16.1 O.doc