Res 1984-102 - Laserfiche WebLink

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-7- 21. CONDEMNATION If all of the premises shall be taken under the right of eminent domain by any public authority having the right of condemnation, or if a portion of the Shopping Center is so condemned as will prevent the practical use of the premises for LESSEE'S purposes, this lease, and all obligations hereunder, shall terminate on the date title vests pursuant to such proceedings, unless earlier terminated as provided herein. In the event the proper judicial authority does not divide the award to compensate the separate loss of each party, the total award made in such proceedings shall be equitably distributed between the LESSOR and LESSEE, and, if applicable, other tenants occupying space In the Shopping Center. If such taking does not prevent the practical use of the premises for the purposes of the LESSEE, then this lease shall continue in full force and effect, but the rent shall abate proportionately, and such other adjustments shall be made as shall be just and equitable. In the event that the proper judicial authority does not divide the award made in any such proceedings, and if the LESSOR and LESSEE are then unable to agree as to its division, or as to whether or not this lease is terminated, or as to the abatement or adjustment of rent, or as to any other adjustments, all such disagreements shall be submitted to arbitration. Each of the parties shall select an arbitrator within thirty (30) days after the vesting of title in the condemnation proceedings, and if the arbitrators are unable to agree, such arbitrators shall select a third arbitrator within sixty (60) days after the vesting of title. If they are unable to agree upon a third arbitrator, either of them may apply to a court of original jurisdiction in Hays County, Texas, and said court shall appoint the third arbitrator:-- The decisioñ of two (2) out of three (3) of the arbitrators shall be final. 22. SUBLETTING, ASSIGNING LESSEE may not (except as hereinafter stipulated) assign this lease agreement and/or sublet the premises, or any part thereof, without in each instance obtaining the written permission of LESSOR; however, LESSOR'S permission shall not be unreasonably withheld. It shall not be considered unreasonable for LESSOR to withhold its consent for assigning or subletting for any use or to any tenant which would be in violation of any restrictive or exclusive agreements theretofore entered into by LESSOR with respect to the Shopping Center. LESSEE may, without LESSOR'S permission, assign this lease and/or sublet the premises, or any part thereof, to an affiliated, subsidiary, or reorganized corporation of LESSEE, for the purpose of continued operation hereunder of the business conducted on said premises In substantially the same manner as before. No assignment or subletting shall relieve LESSEE of the obligations imposed upon it by the terms of this lease. 23. HOLDING OVER If LESSEE remains in possession of the premises after the expiration of this lease, and without the execution of a new lease, it shall be deemed to be occupying the premises as a tenant from month-to-month, subject to all the conditions, provisions, and obligations of this lease at a rental equivalent to the last monthly rental payment made by LESSEE prior to the expiration of this lease, all other terms and conditions of this lease remaining the s~me. 24. SHOWING BY LESSOR LESSOR may, at any time within six (6) months before the expiration of this lease, enter the premises at all reasonable hours for the purpose of offering the premises for rent, subject to LESSEE'S rights, as set out in Paragraph 7 hereof.