Res 2003-032 - Laserfiche WebLink

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incurring the expense for the reasonable expense of repair or maintenance, together with interest thereon at the rate of ten percent (10%) per annum, to be paid by the obligated party in full within ten (10) working days of receipt by the obligated party of a written, itemized statement setting forth the nature and amount of such costs. P. Damage or Destruction of Premises. If the leased premises, or any structures or improvements on the leased premises, should be damaged or destroyed by fire, tornado, or other casualty, the Company shall give immediate written notice of the damage or destruction to the City, including a description of the damage, and, as far as known to the Company, the cause of the damage. (1) Total Destruction. If the building should be totally destroyed by fire, tornado, or other casualty not the fault of the Company or any person in or about the leased premises with the express or implied consent of the Company, or if it should be so damaged by such a cause that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) working days and at a cost not to exceed $250,000.00 this lease shall terminate, and rent shall be abated for the unexpired portion of this lease, effective as of the date of written notification as provided above. (2) Partial Destruction. If the building should be damaged by fire, tornado, or other casualty not the fault of the Company or any person in or about the leased premises with the express or implied cohsent of the Company, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) working days and at a cost not to exceed Two Hundred Fifty Thousand and No!100 ($250,000.00), this lease shall not terminate except as provided in subsections (a) and (b) of this section. (a) If the partial destruction of the leased premises occurs prior to the final six (6) months of the lease term, the City shall, at its sole cost and risk, proceed immediately to rebuild or repair the damaged building to substantially the condition in which it existed prior to such damage. If the leased premises are untenantable in whole or in part following such damage, the rent payable during the period in which they are untenantable shall be adjusted equitably. In the event that the City should fail to complete such rebuilding or repairs within one hundred eighty (180) working days from the date of written notification by the Company to the City of the occurrence of the damage, the Company may terminate this lease by written notification to the City. Upon such notification, all rights and obligations under this lease shall cease. (b) If partial destruction of the leased premises occurs in the final six (6) months of the lease term, the City need not rebuild or repair the premises. If the City elects not to rebuild or repair the premises and the leased premises are untenantable in whole or in part following such damage, Company! Lessee may elect to terminate the lease or to continue the lease with the rent for the remainder of the lease period adjusted equitably. Q. Mechanic's Lien. The Company will not permit any mechanic's lien or liens to be placed upon the leased premises or improvements on the premises. If a mechanic's lien is filed on the leased premises or on improvements on the leased premises, Company! Lessee will promptly pay the lien. If default in payment of the lien continues for twenty (20) days after written notice by the City to the Company, the City may, at its option, pay the lien or any portion of it without inquiry as to its validity. Any amounts paid by the City to remove a mechanic's lien caused to be filed against the premises or improvements on the premises by the Company, including expenses and interest, shall be due from the Company to the City and shall be repaid to the City immediately on rendition of notice, together with interest at ten percent (10%) per annum until paid. R. Inspection by Lessor. The Company shall permit the City and the City's agents or representatives to enter into and on the leased premises at all reasonable times during normal business hours for the purpose of inspection or any other purpose necessary to protect Lessor's interest in the leased premises or to perform any duties of Lessor hereunder. 7 Initial as to approval: Company _ City_