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Special Project Oversight Committee (SPOC) Report #1
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Special Project Oversight Committee (SPOC) Report #1
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9/20/2012 7:44:14 AM
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RecordID
10317
Title
Special Project Oversight Committee (SPOC) Report #1
Company
Marion County
BLDG Date
11/14/1997
Building
Courthouse Square
BLDG Document Type
Committee
Project ID
CS9601 Courthouse Square Research
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~ entitled to the entire award made for such use; provided that Lessee shall be entitled to file and prosecute <br />any claim against the condemnor for damages and to recover the same, for any negligent use, waste, or <br />injury to the Premises or the Improvements throughout the balance of the then-cunent Term. The amount <br />of damages so recovered shall belong to Lessee. <br />18.2 In the event of any dispute between Lessee and Lessor with respect to any issue of fact <br />arising out of a taking mentioned in this section, such dispute shall be resolved by the same court in which <br />the condemnation action is brought, in such proceedings as may be appropriate for the adjudicating the <br />dispute. <br />Section 19. Assignment and Subletting <br />19.1 Until the Project is substantially completed, Lessee shall not sell, assign, or in any other <br />manner transfer this Lease or any interest in this Lease or the estate of Lessee under this Lease without the <br />prior consent of Lessor, which consent shall not be unreasonably withheld or delayed. After the Project is <br />completed, there shall be no restriction on Lessee's right to sell, assign, or in any manner transfer this Lease <br />or any interest in this Lease or the estate of Lessee or rent, sublet, sublease, or underlet the Premises or the <br />Improvements, except as set forth below. <br />19.2 Lessee shall have the right to sublet portions of the Premises and/or of the Improvements <br />at any time and from time to time, but only for a term or tecros that shall expire before the expiration of the <br />Term, and provided that each such sublease shall be in writing and shall be subject and subordinate to the <br />rights of Lessor under this Lease. <br />19.3 When this Lease terminates, Lessor shall recognize and not disturb the quiet enjoyment <br />of any sublessee if (1) the sublease is then free from default; (2) the sublease is in all material respects in <br />the form of a sublease approved by Lessor; (3) the sublessee executes the attornment agreement described <br />below in this section; and (4) the sublease has a fair market rent. The Lease will be deemed to have a fair <br />market rent if Lessee delivers to Lessor a certificate of an independent real estate appraiser who is a member <br />of the American Institute of Appraisers, or other similar organization, containing the appraiser's <br />certification that the rent payable by the sublessee under its sublease as of its date of execution, after taking <br />into account any credits, offsets, deductions, or concessions to which the sublessee may be entitled, <br />constituted the then-fair rental value of the subleased space. As a condition of Lessor's nondisturbance of <br />the sublessee, it shall deliver to Lessor an attornment agreement confirnung that the sublessee will attorn to <br />Lessor and recognize it as the sublessee's Lessor under the terms of the sublease. Upon such attornment <br />and satisfaction of the other nondisturbance requirements set forth above, the sublease shall continue in full <br />force and effect as a direct lease between the sublessee and Lessor on all the terms, conditions, and <br />covenants as are set forth in the sublease except that Lessor shall not (1) be liable for any previous act or <br />omission of the sublessor; (2) be subject to any offset, deficiency, or defense that shall have accrued to the <br />sublessee against the sublessor; (3) be bound by any previous prepayment of more than one month's rent <br />unless such modification or prepayment shall have been expressly approved in writing by Lessor; or (4) be <br />liable for commencing or completing any construction or any contribution toward construction or <br />installation of any improvements on the Premises required under the sublease, or any expansion or <br />rehabilitation of existing improvements on the Premises, or for restoring improvements following any <br />casualty not required to be insured under this Lease, or for the costs of any restoration in excess of the <br />proceeds recovered under any insurance required to be canied under this Lease. On request, Lessor shall <br />co~firm in a separate written agreement with any qualified sublessee the nondisturbance obligation of <br />Lessor as set forth in this section. <br />Section 20. Default; Remedies <br />20.1 The occurrence of any one or more of the following events of default constitutes a <br />breach of this Lease by Lessee: <br />( a) If Lessee defaults in the payment of Rent due and payable by Lessee, and such <br />default continues for 30 days after Lessor has given Lessee a notice specifying the same; or <br />Ground Lease Courthouse Square <br />Page - 11 <br />0919970302 <br />
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