Res 2007-183 - Laserfiche WebLink

Home Browse Search

(c) To the extent any of the components of the Leased Premises which Lessee is obligated to maintain and repair hereunder are covered by a warranty provided by the manufacturer thereof, Lessee agrees to take all such actions, including the manufacturer's required and/or recommended scheduled maintenance, necessary to maintain the warranty without impairment. Furthermore, regardless of whether any such component is covered by a manufacturer's warranty, to the extent the manufacturer of any component of the Leased Premises that Lessee is obligated to repair under this Lease recommends regularly scheduled maintenance for the component, Lessee shall be obligated to comply with the manufacturer's recommendations. Specifically included in the Foregoing obligation is the obligation of Lessee to perform all scheduled maintenance recommended by the manufacturers of the HVAC system servicing the Leased Premises at the times recommended by such manufacturer (d) With regard to casualty damage to the Leased Premises, Lessee shall, as soon as reasonably practicable but in no event later than ninety (90) days after the date of a casualty, commence the work of repair, reconstruction or replacement of the damaged Improvement and proceed with all due diligence until completion. i~lotwithstanding the foregoing sentence, if the casualty occurs during the last twelve {12) calendar months of the Term and the extent of damage to the Leased Premises is greater than fifty percent (50%) of the then replacement value thereof (exclusive of the value of the Land), Lessee shall have the option, within ninety (90) days from the date of the occurrence of such casualty damage, to terminate this Lease by giving written notice of such termination to Lessor within said 90-day period, in which event (i) this Lease shall terminate as of the termination date specified in such notice to Lessor, which shall not be less than thirty (30) days after the date of such notice; (ii) Lessee shall no longer be required to pay Base Rent for any period subsequent to such termination date; (iii) Lessee shall not he required to repair the damage; (iv} all insurance proceeds available as a result of such damage shall be paid to and be the property of Lessor; and (v) the Parties shall have no further liability or obligations one to the other except for liabilities incurred or accruing prior to such termination date or as maybe expressly provided for herein. 5.4 Operational Rights and Restrictions; Revenue. (a) Subject to clause (e) of this Section 5.4, Lessee shall be entitled to all revenues generated from and associated with the operation of the Conference Center for the Term, provided that (i) such revenues derive from uses permitted by Section 5.1 of this Lease and {ii) the Standard Rates {as defined herein), and any variances thereof, associated with such revenues have been approved in writing by the City pursuant to this Section 5.4. (b) Subject to the terms and provisions of this Lease, Lessee shall have full -- and exclusive control of the management and operation of the Conference Center, including all booking and catering rights; provided, however, that Lessee shall not assign such rights or grant or enter into any licenses, subleases, management agreements, operating agreements or any other agreements of any nature transferring such rights except in connection with an assignment of this Lease permitted by Section 7.1. (c} Lessee shall make the Conference Center available to IIotel users and non- Hotel users on an equal, non-discriminatory basis with the goals of maximizing revenue for the Hotel and increasing tourism within the City of San Marcos. 2025904.1