Res 2024-247 approving a five-year Ground Lease Agreement with Frayezur Properties, LP to lease city-owned property

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6. Uniform Commercial Code. Tenant grants Landlord a security interest in Tenant's personal property now or subsequently located on the Premises. This lease is a security agreement under the Uniform Commercial Code. 7. Default by Landlord/Events. Defaults by Landlord are failing to comply with any provision of this lease within thirty days after written notice and failing to provide Essential Services to Tenant within ten days after written notice. 8. Default by Landlord/Tenant's Remedies. Tenant's remedies for Landlord's default are to sue for damages and, if Landlord does not provide an Essential Service for thirty days after default,terminate this lease. 9. Default by Tenant/Events. Defaults by Tenant are(a)failing to pay timely Rent, (b) abandoning or vacating a substantial portion of the Premises, and (c) failing to comply within ten days after written notice with any provision of this lease other than the defaults set forth in (a) and(b). 10. Default by Tenant/Landlord's Remedies. Landlord's remedies for Tenant's default are to(a)enter and take possession of the Premises,after which Landlord may relet the Premises on behalf of Tenant and receive the rent directly by reason of the reletting, and Tenant agrees to reimburse Landlord for any expenditures made in order to relet, (b) enter the Premises and perform Tenant's obligations, and (c) terminate this lease by written notice and sue for damages. Landlord may enter and take possession of the Premises by self-help, by picking or changing locks if necessary,and may lock out Tenant or any other person who may be occupying the Premises, until the default is cured, without being liable for damages. 11. Default/Waiver/Mitigation. It is not a waiver of default if the nondefaulting party fails to declare immediately a default or delays in taking any action. Pursuit of any remedies set forth in this lease does not preclude pursuit of other remedies in this lease or provided by applicable law. Landlord and Tenant have a duty to mitigate damages. 12. Security Deposit. If Tenant defaults,Landlord may use the Security Deposit to pay arrears of Rent, to repair any damage or injury, or to pay any expense or liability incurred by Landlord as a result of the default. 13.Alternative Dispute Resolution. Landlord and Tenant agree to mediate in good faith before filing a suit for damages. 14.Attorneys Fees. If either party retains an attorney to enforce this lease, the party prevailing in litigation is entitled to recover reasonable attorney's fees and other fees and court and other costs. 15. Venue. Exclusive venue is in the county in which the Premises are located.