BOC Files (Folders 1-3) - Laserfiche WebLink

Home Browse Search

~~ Lessee, shall have the right to and shall be entitled to receive directly from the condemning authority the balance of the awazd, to be applied by the recipient as it shall deem appropriate. 16.4 In the event of a taking of all or a part of the Premises or the Improvements for temporary use, this Lease shall continue without change, as between Lessor and Lessee, and Lessee shall be entitled to the entire award made for such use; provided that Lessee shall be entitled to file and prosecute any claim against the condemnor for datnages and to recover the same, for any negligent use, waste, or injury to the Premises or the Improvements throughout the balance of the then-cunent Term. The amount of dainages so recovered shall belong to Lessee. ~ i ~ 16.5 In the event of any dispute between Lessee and Lessor with respect to any issue of fact ~ t arising out of a taking mentioned in this section, such dispute shall be resolved by the same court in ~' which the condemnation action is bronght, in such proceedings as may be appropriate for the adjudicating the dispute. ~ ~~ . } Section 17. Assignment and Subletdng 17.1 Except as expressly percmtted under Secdon 17.2, Lessee shall not sell, assign, or in ~ any other manner transfer ttus Lease or any interest in this Lease or the estate of Lessee under this Lease ~~ without the prior consent of Lessor, which consent shall not be unreasonably withheld or delayed. Such . consent by Lessor. may be conditioned upon Lessae s agreement to an adjustment of the Minimum Rent _ iu effect at the time of such pmposed transfer to equal the then prevailing fair market ren~ - 17.2 Lessee shall have the right to sublet portions of the Premises or of the Improvements at any time and from time to time, but only for a term or terms that shall expire before the expu~ation of the Term, and provided that each such sublease shall be in writing and shall be subject and subordinate to the rights of Lessor under this Lease. ~ 17.3 When this Lease terminates, Lessor shall recognize and not disturb the quiet enjoyment of any sublessee if (1) the sublease is then free from default; (2) the sublease is in all J. materiai respects in the form of a snblease approveri by I.essor and expires prior to the Term herein; (3) the sublessee executes the attornment agteement described below in this section; and ~(4) the sublease has a fair market rent. The Lease will be deemed to have a fair market rent if Lessee delivers to Lessor a certificate of an independent real estate appraiser who is a member of the American Institnte of ~~ Appraisers, or other similaz organization, containing the appraiser's certification that the rent payable by the sublessee under its sublease as of its date of eaecution, after taking into account any credits, offsets, deductions, or concessions to which the sublessee may be entitled, constituted the then-fair rental value of the subleased space. As a condition of Lessor's nondisturbance of the sublessee, the sublessee shall ~ deliver to Lessor an attornment agreement confirming that the sublessee will attom to Lessor and recognize it as the sublessee's lessor under the terms of the sublease. Upon such attornment and ~ satisfaction of the other nondisturbance requirements set forth above, the sublease shall continue in full ~`~ . force and effecf"as a direct lease between the sublessee and Lessor on all the terms, conditions, and ~v~ ~ covenants as are set forth in the sublease except that Lessor shall not (1) be liable for any previous act or omission of the sublessor, (2) be subject to any offset, deficiency, or defense that shall have accrued ~~ to the sublessee against the sublessor, (3) be bound by any modification of the sublease or by any previous prepayment of more than one month's rent unless such modification or prepayment shall have been expressly approved in writing by Lessor, or (4) be liable for commencing or completing any construction or any contribution toward construction or installation of any improvements on the ~ Premises required nnder the sublease, or any expansion or rehabilitation of existing unprovements on ~~; the Premises, or for restoring ~ improvements following any casualty not required to be insured under this Lease, or for the costs of any restoration in excess of the proceeds recovered under any insurance ~, required to be carried under this Lease. On request, Lessor shall confirm in a separate written ~ agreement with any qualified sublessee the nondisturbance obligation of Lessor as set forth in this ~ ' section. ~ Section 18. Default; Remedies 18.1 'The occurrence of any one or more of the following events of default consritutes a breach of this Lease by Lessee: €" ~ i_ ~ North Pad Ground Lease Courthouse Square ~. ~ Page - 15