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Res 2010-062
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Res 2010-062
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5/28/2010 4:29:00 PM
Creation date
4/27/2010 9:16:49 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Lease
Number
2010-62
Date
4/20/2010
Volume Book
185
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after such notice shall be permitted to rely on such notice and shall have no liability to Lessor after <br />such notice for any Rent so paid to Mortgagee by Lessee. In the event Lessee receiving any such <br />notice from Mortgagee does not timely pay such future Rent to Mortgagee, whether on account of <br />continued payment to Lessor of such Rent by Lessee to Lessor or withholding of such Rent by <br />Lessee or Lessee's paying such Rent into the registry of the court in connection with an interpleader <br />or other action or any other non - payment of such Rent to Mortgagee by Lessee, Lessee will be liable <br />to Mortgagee for the Rent not so paid to Mortgagee plus costs of court plus attorneys' fees of <br />Mortgagee. Whenever requested by Lessor, Lessee shall execute an agreement which provides that <br />Mortgagee has notified Lessee of the Absolute Assignment of Rents, and that Lessor has been <br />granted a revocable license by Mortgagee to collect the Rent so long as there is no default on the <br />mortgage or deed of trust, and is aware of the provisions and terms of this paragraph. Lessor <br />represents that the Lease will not be terminated in any foreclosure pursuant to any deed of trust and <br />that the purchaser at foreclosure sale will take title subject to the terms of this Lease and Lessee's <br />occupancy will not be disturbed except as permitted in this Lease. <br />26.1. Surrender of Premises. At the expiration or termination of this Lease or the termination <br />of Lessee's right of possession, Lessee shall surrender Lessee's office space to Lessor in the same <br />condition as on the date of initial possession by Lessee, ordinary wear and tear excepted. Removal <br />of property by Lessee upon Lessee's surrender of Lessee's office space shall be in accordance with <br />Paragraph 14.1. <br />26.2 Holding Over. If Lessee remains in possession of the Leased Premises after the <br />expiration of or mutually agreed termination of this Lease, without the execution by Lessor and <br />Lessee of a new lease or a renewal or extension of this Lease, then (a) Lessee shall be deemed to be <br />occupying the Lease Premises as a tenant -at- sufferance on a daily basis, subject to all obligations of <br />this Lease, and rent shall be paid at a rate equal to 150% of the Monthly Rent Lessee paid during the <br />last month of the rental term prior to holding over, (b) Lessee shall pay for the entire holdover <br />period, (c) Lessee shall be subject to all other remedies of Lessor as provided in Paragraph 19.1, (d) <br />Lessee shall indemnify Lessor and/or prospective tenants for damages (including lost rentals, storage <br />expenses, and attorneys fees), and (e) at Lessor's sole option, Lessee may extend the lease term for a <br />period of one month at the then current rental rates for the building, as reasonably determined by <br />Lessor, by delivering written notice as provided under Paragraph 28.1, to Lessee or to Lessee's <br />office space while Lessee is holding over. Holdover rents shall be immediately due on a daily basis <br />and delinquent without notice or demand; and the prior written notice and waiting period <br />requirements of Paragraph 19.1 shall not be necessary in order for Lessor to exercise remedies <br />thereunder. <br />27.1. Signs. There shall be no signs, symbols, or identifying marks on the exterior of the <br />building, parking areas, or windows without prior written approval of Lessor. All signs or lettering <br />shall conform to reasonable sign and lettering criteria established by Lessor. Lessor may remove all <br />unapproved signs without prior notice to Lessee and at Lessee's expense. <br />28.1. Notices. Whenever written notice is required or permitted under this Lease, such notice <br />shall be in writing and shall be either (a) hand delivered personally to the party being notified, (b) <br />hand delivered to or inside such party's mailing address set forth below, or (c) forwarded by certified <br />mail, return receipt requested, postage prepaid, to such party at such party's mailing address. The <br />mailing address of Lessor shall be the address to which Lessee normally mails or delivers the <br />monthly rent unless Lessor notifies the Lessee of a different address in writing. The mailing address <br />of Lessee shal Lessee's office space under this Lease unless otherwise stated by special exhibit <br />Lessor 13 Lessee: <br />v- <br />W.I.C. Lease <br />
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