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AG 2009 03 16
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AG 2009 03 16
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Last modified
2/5/2010 11:35:16 AM
Creation date
11/27/2017 11:25:04 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/5/2010
Board
Board of Commissioners
Meeting Type
Regular
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<br /> <br />t and effect, in which case Tenant shall repair any damage to the Premises. Tenant shall pay the cost of such <br />repairs, except that upon satisfactory completion of such repairs, Landlord shall deliver to Tenant any <br />insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord <br />' written notice of such election within ten (10) days after receiving Landlord's termination notice. If the <br />damage to the Premises (whether partial under this Section 8.1 or substantial or total destruction under <br />Section 8.2) occurs during the last six (6) months of the Term and such damage will require more than thirty <br />(30) days to repair, either Landlord or Tenant may elect to terminate this Lease as of the date the damage <br />' occurred, regardless of the sufficiency of any insurance proceeds. The party electing to terminate this Lease <br />shall give written notification to the other party of such election within thirty (30) days after Tenant's notice <br />to Landlord of the occurrence of the damage. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />8.2 Substantial or Total Destruction. If the Premises is substantially or totally destroyed by any <br />cause whatsoever, this Lease shall terminate as of the date the destruction occurred whether or not the <br />damage or destruction was caused by a negligent or willful act of Tenant. Notwithstanding the preceding <br />sentence, if the Premises can be rebuilt within six (6) months after the date of destruction, Landlord may <br />elect to rebuild the Premises, in which case the Lease shall remain in full force and effect. Landlord shall <br />notify Tenant of such election within thirty (3) days after Tenant's notice of the occurrence. If Landlord so <br />elects, Landlord shall rebuild the Premises at Landlord's sole expense. In the event that the damage or <br />destruction was caused by Tenant, Landlord shall have the right to recover Landlord's losses not covered by <br />insurance. <br />8.3 Temporary Reduction of Rent, Remedies. If the Premises is destroyed or damaged and the <br />Lease is continued, any rent payable during the period of such damage, repair and/or restoration (not to <br />exceed the period provided for by any rental value insurance on the Premises) shall be reduced according to <br />the degree, if any, to which Tenant's use of the Premises is impaired. Except for such possible reductions in <br />the Additional Rent, insurance premiums and real property taxes, Tenant shall not be entitled to any <br />compensation, reduction or reimbursement from Landlord as a result of any damage, destruction, repair or <br />restoration of or to the Premises. If Landlord is obligated to repair or restore the Premises under the <br />provisions of this ARTICLE 8 and shall not commence, in a substantial and meaningful way, the repair or <br />restoration of the Premises within ninety (90) days after such obligation shall accrue, Tenant may, at any <br />time prior to the commencement of such repair or restoration of the Premises, give written notice to <br />Landlord of Tenant's election to terminate this Lease on a date no less than sixty (60) days following the <br />giving of such notice. If Tenant gives such notice to Landlord and such repair or restoration is not <br />commenced within thirty (30) days after receipt of such notice, this Lease shall terminate as of the date <br />specified in the notice. If Landlord commences the repair or restoration of the Premises within thirty (30) <br />days after receipt of such notice, this Lease shall continue in full force and effect. "Commence" as used in <br />this Section 8.3 shall mean either the unconditional authorization of the preparation of the required plans or <br />the beginning of the actual work on the Premises, whichever occurs first. <br />ARTICLE 9 <br />CONDEMNATION <br />9.1 Condemnation. If all or any portion of the Premises is taken under the power of eminent <br />domain or sold under the threat of that power (all of which are called "Condemnation"), this Lease shall <br />terminate as to the part taken or sold on the date the condemning authority takes title or possession, <br />whichever occurs first. If more than twenty percent (20) of the floor area of the building which is part of the <br />Premises is taken, either Landlord or Tenant may terminate this Lease as of the date the condemning <br />authority takes title or possession, by delivering written notice to the other within ten (10) days after receipt <br />11 <br />F-6 <br />Attachment number 1 <br />Page 188 of 286 <br />
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