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Reso 2005-787
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Reso 2005-787
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Last modified
2/10/2016 3:13:42 PM
Creation date
1/25/2006 1:57:53 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2005-787
Date (mm/dd/yyyy)
04/14/2005
Description
Lease Agmt w/Vanguard Car Rental USA, Inc (1st Addendum)
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<br />insurance proceeds shall be retained by Landlord. In the evenr th3t Tenant does nor ekCl (0 rebuild <br />in accordance wjrh this Paragraph 17(A), Tenant sh31J be obJig3ted to remove all debris from the <br />Prerruses. <br /> <br />B. In all other cases of damage to, or destruction of, the Premises the Tenant <br />shall restore the Premises to substantially the same condition as existed prior to the damage or <br />destruction provided that Tenant is able with reasonable efforts to obtain all required permits to do <br />so. In the event that Tenant is obligated to restore the Premises (or Tenant c:Jects to restore the <br />Premises in those cases where Tenant is not obligated to do so), Tenant shall commence to rebuild <br />or repair the Prerruses promptly after such damage or destruction, provided that all permits required <br />for such work have been obtained at the time necessary with rhe Tenant using reasonable diligence <br />to obtain such permits, and shall proceed with diligence [0 restore it to substantially the condition <br />in which it was immediately prior to the casualty. This Lease shall remain in full force and effect, <br />and Tenant shall not be entitled to an abatement of the Rent during any time the Premises or any <br />portion thereof are unfit for occup3ncy. In the event Tenant is obligated or elects to rebuild the <br />Premises pursuant to this Paragraph 17, then all insurance proceeds arising out of insurance coverage <br />required to be carried hereunder shall be paid to Landlord and made available to Tenant to pay for <br />the cost of such repair, rebuilding or restoration as more panlcularly set fonh in Paragraph 17(A) <br />hereinabove <br /> <br />C. With the exception of insurance required to be carried by Tenant under <br />Paragraph 13 of this Lease, any other insurance which may be carried by Landlord or Tenant against <br />loss or damage to any building or other Improvements on the Prerruses or to propeI1y shall be for the <br />sole benefit of the party carrying such insurance and under its sole control Landlord shall not be <br />required to carry insurance of any kind on Tenant's property or the Premises. <br /> <br />18. Condemnation. <br /> <br />A. In the event that the whole of the Prerruses, or so much thereof as to render <br />the balance unusable to Tenant for the purposes leased hereunder, shall be lawfully condemned or <br />taken in any manner for'any public or quasi-public use, or conveyed by undlord in Ijeu thereof (a <br />"Taking"), this Lease and the term hereby granred shall fOI1hwith cease and terminate on the date of <br />the taking of possession by the condemning authority (the "Date of Taking"). <br /> <br />B. In the event of a Taking of a portion of the Premises which does not result <br />in the termination of this Lease pursuant to Subparagraph (A), above, the Rent shall be abated in <br />proportion to the part of the Premises so taken, and Tenant shall be obligated to restore the Premises <br />with the use of any award received by Landlord; provided that in the event any award received by <br />Landlord is insufficient to pay the costs of restoring the Premises, all such excess restoration costs <br />shall be paid by Tenant <br /> <br />C. No temporary Tiling of the Premises and/or of Tenant's rights therein or <br />under this Lease shall terminate this Lease or give Tenant any right 10 abatement of Rent hereunder <br /> <br />MLA95JO/J71248.J <br /> <br />18 <br /> <br />SIB <br />
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