10.3 Lessor assigns to Lessee, without recourse, such rights, if any, as Lessor may have
<br />against any parties causing damage to the Improvements on the Premises to sue for and recover
<br />~ amounts expended by Lessee as a result of such damage.
<br />Section 11. Alterations, Additions, and New Improvements
<br />The term Modifications means any demolition, improvement, alteration, change, or addition,
<br />of, in, or to all or any part of the Premises or the Improvements. The term Minor Modifications shall
<br />mean any Modifications costing less than $1,000,000.00, and the term Major Modifications shall mean
<br />any and all Modifications other than Minor Modifications. Multiple Modifications occurring within a
<br />period of 365 days shall be deemed a single Modification for the purposes of applying the provisions
<br />contained in this section. At any time during the Term and at Lessee's own cost and expense, Lessee
<br />may make or permit to be made any Minor Modifications, provided there is no existing and
<br />unremedied default on the part of Lessee, of which Lessee has received notice of default, under any of
<br />the terms, covenants, and conditions of this Lease. Major Modifications shall require the prior consent
<br />of the Lessor. All salvage material in connection with any Modification that Lessee is permitted to
<br />make shall belong to Lessee.
<br />Section 12. Title to Improvements
<br />Title to Improvements shall be and remain in Lessee until the expiration of the Term, unless
<br />this Lease is terminated sooner as provided. Upon such expiration or sooner termination, title to the
<br />Improvements shall automatically pass to, vest m, and belong to Lessor without further action on the
<br />part of either party and without cost or charge to Lessor. Durmg the Term, Lessee shall be entitled for
<br />all taxation purposes to claim cost recovery deductions and the like on the Improvements.
<br />Section 13. No Waste
<br />Lessee shall not do or suffer any waste or damage, disfigurement, or injury to the Premises or
<br />the Improvements.
<br />Section 14. Inspection and Access
<br />~ 14.1 Lessee shall permit Lessor, any Permitted Leasehold Mortgagee, or the authorized
<br />representative of any of them to enter the Premises and the Improvements at all reasonable times during
<br />usual business hours for the purposes of inspecting the same and making any repairs or performing any
<br />work that Lessee has neglected or refused to make in accordance with the terms, covenants, and
<br />conditions of this Lease. Nothing in this Lease shall imply any duty or obligation on the part of Lessor
<br />to do any such work or to make any Improvements of any kind whatsoever to the Premises (including,
<br />but not limited to, repairs and other restoration work made necessary due to any fire, other casualty, or
<br />partial condemnation, inespective of the sufficiency or availability of any fire or other insurance
<br />proceeds, or any award in condemnation, which may be payable). The performance of any work by
<br />Lessor shall not constitute a waiver of Lessee's default in faihng to perform the same.
<br />14.2 During the progress of any work on the Premises or the Improvements performed by
<br />Lessor pursuant to the provisions in this section, Lessor may keep and store on the Premises all
<br />necessary materials, tools, supplies, and equipment. Lessor shall not be liable for inconvenience,
<br />annoyance, disturbance, loss of business, or other damage of Lessee or any user by reason of making
<br />such repairs or performing any such work, or on account of bringing materials, tools, supplies, and
<br />equipment onto the Premises or into the Improvements during the course of the work and the
<br />obligations of Lessee under this Lease shall not be affected by the work.
<br />14.3 Lessor shall have the right to enter on the Premises and the Improvements at all
<br />reasonable times during usual business hours for the purpose of showing the same to prospective
<br />purchasers of Lessor's interest and, at any time within two years before the Term expires, for the
<br />purpose of showing the same to prospective lessees or purchasers.
<br />14.4 Except in the event of emergency repairs, all entry to the Premises by Lessor shall
<br />require at least 24 hours' advance notice to Lessee. In the event of any emergency repairs, Lessor shall
<br />use reasonable efforts to give Lessee the earliest possible notice of the same.
<br />Ground Lease Courthouse Square
<br />Page - 11 ~
<br />
|