Res 2010-122 - Laserfiche WebLink

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11.1. Option Period: Tenant Will have the ri to purchase the Leased Premises (lac D 841471 at an time durin the first thirt six (36) months of the initial lease term. If Tenant does not exercise its Option to Purchase durin this period, said Option becomes null and void. 11.2. Application of Reimbursed Demolition Costs'. An costs reimbursed to Landlord from Tenant under Paragraph 1.2 of this Addendum shall be applied as a credit to the Purchase Price to the benefit of the Tenant 11.3. Option Purchase Price,,: The Option Purchase Price shall be fixed at $216,576 for the Leased Premises less an amount (up to $50,000) applied as permitted b Para 1.2 of this Addendum A. 11.4. Continaencv: The purchase option is contin upon the propert remainin in the TCEQ DCRP, unless a Letter of No Further Action has been issued in advance of purchase. 11-5. Inspections: In connection with this option to purchase, Tenant ma conduct such inspections and investi includin environmental site assessments, as it deems necessar 11.6. Qeed T If Tenant exercises its Option to Purchase, Seller will execute and deliver to Bu a special warrant deed, at closin 12. Sukiect to Annual Appropriations: All obli of Tenant under this Lease A are sub to and contin upon the annual appropriation of lawfull available funds b the San Marcos Cit Council in each fiscal y ear durin the term of this lease. In the event the San Marcos Cit Council fails to appropriate funds for purposes of meetin the obli of Tenant under this lease, this Lease A shall terminate at the end of the last month durin the term for which lawfull available funds were appropriated b the San Marcos Cit Council and Landlord shall have no recourse a Tenant arisin from or as a result of such non-appropriation. 13. Indemnification b Tenant.-, Notwithstandin an to the contrar in the Lease A and any addenda thereto, it is expressl a and understood that Tenant shall have no dut or obli to indemnif defend or hold harmless Landlord, except as related to conditions caused b or arisin from Tenant's operations on the leased premises or an construction activities conducted b Tenant under the commercial Leasehold Construction Addendum (Tenant to Complete Construction to the Lease A and then onl to the extent permitted b law and without Tenant waivin an immunit or limitations on liabilit available to it as a g overnmental entit 14. Environmental Liability and Indemnification.: In enterin into this Lease A it is understood that Landlord will participate in and maintain re of the leased premises in the TCEQ DCRP. Notwithstandin an other provision in this Lease A to the contrar Tenant is not conductin an independent environmental assessment of the leased premises. Rather, in consideration of the Chapter 380 loan from Tenant to Landlord, Landlord assumes all responsibilit for compl with the TCEQ DCRP pro re and an and all other applicable federal, state and local environmental laws, • Pa 4 of 5 Initialed for Identification b Tenant: 6 m,, , and Landlord: t1 U_