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2010-101 Resolution
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2010-101 Resolution
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Last modified
1/14/2014 3:20:29 PM
Creation date
12/27/2013 10:53:05 AM
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North Olmsted Legislation
Legislation Number
2010-101
Legislation Date
8/3/2010
Year
2010
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18. Revenue Share: Pursuant to Paragraph 17 of the Option and Site Lease Agreement ("Prime <br />Lense"), attached hereto as Exhibit 4, Tenant shall pay a portian of the rents or Iicense plyments <br />thlt Landlord receives from 1ny third pai-ty users of the Sile including Tenant ("Revenue <br />Share"). The Revenue Share to be paid, at the time Rent is due, is, as of the date of this <br />Agreement, One Thousand One Hundced and 00/100 Dollars ($1,100.00) per month. Tenant <br />shall pay Revenue Share directly to the City of North Olmsted, 5200 Dove?• Center Road, Noi•th <br />Olmstead, OH 44070. Such Reveuue Share shatl be adjusted iu the slme manner as, and <br />siinultaneously with lhe adjustments to Tenaiit's Rent payments. <br />19, Consent Contingency: This Site Lcase is contingeut upon Laiid Owner's written consent to <br />subleasiiig. Laiid Owner's coaisent has been requesled by Landlord. No notice to proceed or <br />commenceme?it of construction shall be issued to Tenant or staeted by Tenant until Landiord has <br />been granted written consent by the Land Owner. Tanant further agrees and acknowledges that <br />any ldditiona[ monetary compensation required fo?- consent will require an ameiidmcnt to this <br />Site Lease requiring Tenaiit to rcimburse Landlorcl the cost of said compensation, equal to the <br />lmount paid to the Laiid Owner for consent. In the event that the Land Owncr does not give <br />consent within one hundred aitd twenty (120) ctays of full execution of this Site Lease, this Site <br />Lease is void aiid of no further force oi• effect. Ln no eveiit will Rent commence before Laiid <br />Owner's consent is obtained. <br />[SIGNATURES ON NEXT PAGE] <br />[REMAINDER OF THIS PAGE LEFT BLANK]
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