Reso 2011-1735 - Laserfiche WebLink

Home Browse Search

intention to do so and Tenant fails to either provide reasonably satisfactory evidence that Tenant is pursuing such contest with reasonable diligence or to pay same before the expiration of said IS-day period. Such payment with interest thereon at a rate which is the lesser of eighteen percent (18%) per annum or the highest non-usurious rate permitted by applicable law shall be Additional Rent due from Tenant to Landlord at the next rental payment day following such payment. Section 4. Refunds. Tenant shall be entitled to any refund of any such Imposition and penalties or interest thereon which have been paid by Tenant or which have been paid by Landlord and for which Landlord has been fully reimbursed by Tenant. Section 5. Utilities. Tenant covenants to pay all public and private charges for water, sewer, electricity, gas, telephone and other utility services used in or upon the Land and the Improvements during the Term from and after the date the Final Approvals are obtained and vacant, unencumbered possession of the Land has been delivered to Tenant. Section 6. Depreciation. For depreciation purposes only, the Improvements on the leased premises once constructed by Tenant shall be deemed the property of Tenant, and any and all depreciation or loss allocated to the Improvements shall remain the sole property of Tenant until this Lease is terminated pursuant to its terms. ARTICLE V Improvements/Development Approvals; Use Section 1. Improvements. No later than 30 days after selecting Acceptable Vendors, Tenant, at its own cost and expense, shall submit to Landlord its plans for the commencement and completion of the construction, and the acquisition and installation of the Leasehold Improvements. Tenant's Improvements consist of retail restaurant facilities as described in Exhibit "C". The Landlord acknowledges and agrees that Tenant intends on constructing restaurants on leased premises. The plans for restaurant shall include: a layout of the Premises, a lighting plan, a depiction of all fixtures to be added to Premises, interior finish and material samples, typical display technique, and interior and exterior signage plan. " Section 2. Design/Development Approvals. Tenant may not construct any Tenant's Improvements until the plans and designs for such improvements have been submitted to, and approved by the City in accordance with the development review process set forth in the Code of the City of Sunny Isles Beach. Tenant shall submit plans for approval for Tenant's improvements simultaneous with the submittal of plans for the Park and Parking Garage that Tenant's intend to construct for the Landlord. The obligations of the parties to obtain the Development Approvals hereunder shall be deemed satisfied and fulfilled at such time as the Development Approvals are fully adopted by all requisite governmental action and the same have become final, binding and no longer subject to appeal, which shall hereinafter be referred to as having obtained the "Final Approvals." Notwithstanding the foregoing, the term Development Approvals are not intended to include 6