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8869-16 Lease Agreement with Lakewood Child Care Center
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8869-16 Lease Agreement with Lakewood Child Care Center
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6/9/2016 3:09:12 PM
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6/9/2016 3:08:54 PM
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restore the Building and Premises to their condition Immediately prior to such fire or <br />casualty except that Landlord shall not be required to repair or restore alterations and <br />additions to the Premises made by Tenant in accordance with the provisions of Section 6 <br />hereof. If Landlord has not completed such repair and restoration within one hundred <br />eighty (180) days after the date of the damage or destruction, Tenant may by thirty (30) <br />days advance notice to Landlord elect to terminate this Lease. Tenant's obligation to pay <br />Base Rent shall be abated commencing on the date of such damage or destruction in the <br />proportion that the area of the part of the Premises so damaged or destroyed or rendered <br />untenantable bears to the total area of the Premises, until the Premises are repaired or <br />restored or the Lease is terminated as aforesaid. A substantial portion of the Building <br />and /or Premises shall be deemed to have been damaged or destroyed by fire or other <br />casualty if the undestroyed or undamaged part of the Building and /or Premises shall be <br />Insufficient for the economic and feasible operation thereof by Tenant, <br />11. CONDEMNATION <br />11.1 Termination: If at any time during the Term more than twenty -five percent (25 %) <br />of the Building shall be condemned or taken for public or quasi public use, or if any <br />portion of the Building, the common areas or Premises is so condemned or taken <br />which would materially affect Tenant's ability to conduct normal business <br />operations in the Premises, this Lease shall automatically terminate as of the <br />earlier of the date of the vesting of title or the date of dispossession of Tenant as a <br />result of such condemnation or taking. If at any time during the Term more than <br />twenty -five percent (25 %) of any parking area allocated to Tenant hereunder shall <br />be so condemned or taken, and Landlord does not agree to provide Tenant with <br />other substantially equivalent parking, Tenant may by thirty (30) days advance <br />notice to Landlord elect to terminate this Lease. <br />11.2 Partial Taking: in the event of a partial condemnation or taking that does not result <br />in a termination of this Lease in accordance with the provisions of paragraph 11.1 <br />hereof, the Base Rent due hereunder shall abate in proportion to the portion of the <br />Premises affected by such condemnation or taking. <br />11.3 wards: Landlord shall be entitled to the entire award resulting from any such <br />condemnation or taking, provided, however, that Tenant shall be entitled to any <br />portion of any award attributable to the value of the leasehold estate created by <br />this Lease, and provided further that Tenant may file a claim against the <br />condemning authority for its moving and relocation expenses and for the <br />unamortized value of any leasehold improvements paid for by Tenant. <br />12. ASSIGNMENT AND SUBLETTING <br />12.1 In General: Tenant shall not voluntarily assign its interest in this Lease nor sublet <br />all or any portion of the Premises nor permit the use or occupancy of the Premises <br />by any other person or entity without first obtaining Landlord's written consent, <br />which consent shall not be unreasonably withheld or delayed. Any consent by <br />Landlord to any assignment, subletting, or use or occupation of the Premises by <br />anyone other than Tenant shall not constitute a consent to any subsequent <br />assignment, subletting, or use or occupation. <br />
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