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RFP No. 09-04-01 Restaurant at Fishing Pier
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Last modified
3/3/2011 10:22:09 AM
Creation date
3/3/2011 10:19:41 AM
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CityClerk-Bids_RFP_RFQ
Project Name
Restaurant at Pier Park
Bid No. (xx-xx-xx)
09-04-01
Project Type (Bid, RFP, RFQ)
RFP
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<br />- <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 by <br />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 <br />so taken, the remainder of the premises is rendered unsuitable for the continued operation <br />of Tenant's business, Tenant shall have the right to terminate this Lease as of the date Tenant <br />is required to vacate a portion of the Premises, by giving the other notice of such election within <br />30 days after receipt by Tenant from Landlord of written notice that the Premises have been <br />so appropriated or taken. Landlord agrees immediately after learning of any appropriation or <br />taking to give to Tenant notice in writing thereof In the event of such termination, both Landlord <br />and Tenant shall thereupon be released from any liability thereafter accruing hereunder. If <br />Tenant elects not to terminate this Lease, Tenant shall remain in that portion of the Premises not <br />so taken and Tenant, at Tenant's sole cost and expense, shall restore the remaining portion of the <br />Premises as soon as possible to a complete unit of like quality and character as existed prior to <br />such taking. Landlord agrees to reimburse Tenant for the cost of restoration, but in no event shall <br />Landlord's obligation to reimburse Tenant for the cost of restoring the remaining portion of <br />the Premises exceed the amount of award of compensation that Landlord receives for a partial <br />taking of that portion of the Premises resulting in the need for restoration. So long as this <br />Lease is not terminated in the manner provided above, there shall be an equitable adjustment <br />of the rent payable by Tenant hereunder by reason of such partial taking. Tenant hereby <br />waives any statutory rights of termination which may arise by reason of any taking of the <br />Premises under the 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 />16 <br />
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