Res 1984-034 - Laserfiche WebLink

Home Browse Search

all of the leasehold improvements installed or constructed by Lessee pursuant to Paragraph A. of Article V. of this Agreement, a cash price equal to Lessee's unamortized costs for said improvements. Lessee êìgrees tha t, for the purposes of this provision, it shall amortize the lctual direct cost of such improvements on a straight-line basis, comraencing with the effective date of this Agreement and extending for the term of the Agreement, if the terms of Lessee's mortgage on the premises to be constructed will be satisfied by a straight-line amortization. If a straight-line amortization of Lessee's improvements is not in accordance with the terms of Lessee's mortgage, then the Lessor reserves the right to negotiate a ne\v mutually acceptable buy-out provision with Lessee. If no agree- ment on a new buy-out provision can be reached with Lessee, then this Lease shall terr:lÌna te upon such notice to Lessee by Lessor. ARTICLE XV. 1'11 S CELLAl'\JEOU S PROVISIONS A. ENTIRE AGREEHENT. This Agreement constitutes the entire understanding between the parties, and as of its effective date supersedes all prior or independent agreements between the parties coverlng the subject matter hereof. Any change or modification hereof must be in writing signed by both parties. B. SEVERABILI'I'Y. If a provision hereof sh"ll1 be finally declared void or illegal by any court or administrative agency having jurisdiction, the entire Agreement shall not be void, but the remaining provisions shall continue in effect as nearly as possible in accordance with the original intent of the parties. PAGE 17