Res 2006-016 - Laserfiche WebLink

Home Browse Search

e~ vol F9 ii~fi~~.415 DFfi ~44i] 63fi (b) "Takine" or "Taken". The event and date of vesting of title to the Leased Premises or any part thereof or any property interest therein (including, without ]imitation, the right to the temporary use of all or any portion of the Leased Premises), pursuant to a Condemnation Proceeding. 10.2 Efforts to Prevent Takine. Lessor shall use its reasonable efforts to cause all other competent authorities with the power of eminent domain to refrain from instituting any Condemnation Proceedings or exercising any other powers of eminent domain with respect to the Leased Premises, or any part thereof or any interest therein, during the Term of this Lease which would materially interfere with the use of the Conference Center. 10.3 Entire Takine. If all or substantially all of the Leased Premises shall be Taken in Condemnation Proceedings, Base Rent shall be fully abated from and after the date of such Taking and from and after such date Lessee and Lessor shall not have any other obligations under this Lease with respect to the Leased Premises, except for those obligations which expressly survive the termination hereof. 10.4 Partial Takine. (a) If less than all of the Leased Premises shall be Taken in any Condemnation Proceeding, a fair and equitable portion of the Base Rent attributable to the portion of the Leased Premises Taken shall be abated from and after the date of such partial Taking, and from and after such date Lessee and Lessor shall not have any other obligations under this Lease with respect to the portion of the Leased Premises that has been Taken, except for those obligations which expressly survive the termination hereof. (b) If, following such Taking, the remaining Leased Premises are not sufficient to operate a conference center as intended by the Parties hereto, then Lessee, at its election, may terminate this Lease, whereupon the Base Rent shall be fully abated from and after the date of such partial Taking, and from and after such date Lessee and Lessor shall not have any further obligations under this Lease with respect to the Leased Premises, except for those obligations which expressly survive the termination hereof. Such election to vacate must be exercised no later than ninety (90) days after the date of such Taking. (c) If Lessee does not elect, or does not have the right, to vacate the Leased Premises upon any partial taking, then (i) the Leased Premises shall be reduced by the portion thereof Taken, and the Base Rent payable hereunder shall be equitably reduced during the unexpired portion of the Tenn as provided above, and (ii) Lessor shall commence and proceed with reasonable diligence to repair or reconstruct the remaining Improvements on the Leased Premises, if any; provided, however, Lessor's obligation to so repair or reconstruct the remaining improvements shall be limited to the proceeds of the condemnation award actually received by Lessor. 10.5 Temporary Takine. if any right of temporary (hereinafter defined) possession or occupancy of all or any portion of the Leased Premises shall be Taken, the Base Rent shall be reduced during the duration of such Taking in a fair and equitable manner that reflects the inability of Lessee to use the affected portion of the Leased Premises. A Taking shall be C-18 803273.4