2023-079 Resolution - Laserfiche WebLink

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(v) the Premises constitutes a legal lot that may be leased without the need for any subdivision or platting approval. Lessor covenants that it shall comply with all applicable laws, regulations and requirements related to the Property and that Lessee shall have the quiet enjoyment of the Premises during the term of this Lease. In the event that Lessor fails to keep the Premises free and clear of any liens and encumbrances, Lessee shall have the right but not the obligation to satisfy such lien or encumbrance and deduct the full amount paid by Lessee on Lessor's behalf from future installments of Rent. 26. Occurrence of Lessor Default. The covenants, representations and conditions in this Agreement are mutual and dependent. Upon the occurrence of any breach or nonperformance of any representation, warranty, covenant, agreement or undertaking made by Lessor in this Agreement ("Default"), Lessee shall have the option to pursue any one or more of the following remedies without notice or demand: (a) Lessee, may, at its sole election, terminate the Lease; (b) Lessee, may, without being obligated and without waiving the Default, cure the Default, whereupon Lessor shall pay to Tenant, upon demand, all costs expenses, and disbursements incurred by Tenant to cure the Default. Tenant shall be permitted to offset said costs, expenses and disbursements incurred by Tenant against Rent or any otter amounts due or becoming due by Tenant to Landlord under this Lease; or (c) Tenant shall be entitled to pursue any and all other rights or remedies available at law or equity, including specific perfonoance of this Lease, with respect to Landlord's default. 27. Assignment. Upon written notice to Lessee, Lessor is permitted to transfer this Lease only in connection with the sale of the Parent Parcel and only on the following conditions: (a) the acquiring party must and will assume in writing all of the rights and obligations of Lessor under this Lease on and after the date of purchase of the Parent Parcel and (b) Lessor must retain no rights or obligations under the Lease after the date of sale of the Parent Parcel (a "Lessor Permitted Assignment'7. Lessee may assign this Lease without the consent of but only following prior reasonable notice to Lessor. From and after the date this Lease has been sold, assigned or transferred by Lessee to a third party agreeing to be subject to the terms hereof, Lessee shall be conditionally released from any and all liability under this Lease, including the payment of any rental or other sums due, without any further action, so long as the Assignee assumes full responsibility. Lessor shall grant novation after said Assignee performs obligations for five (5) years. Additionally, Leasee may mortgage or grant a security interest in this Lease and the Improvements, and may assign this Lease and the Improvements to any such mortgagees or holders of security interests including their successors and assigns (hereinafter collectively referred to as "Secured Parties"). If requested, Lessor shall execute such consent to leasehold financing as may reasonably be required by Secured Partes. Lessor agrees to notify Lessee and Lessee's Secured Parties simultaneously of any default by Lessee and to give Secured Parties the same right to cure any default as Lessee except that the cure period for any Secured Party shall not be less than ten (10) days after the receipt of the default notice If a termination, disaffirmance or rejection of the Lease pursuant to any laws (including any bankruptcy or insolvency laws) by Lessee shall occur, or if Lessor shall terminate this Lease for any reason, Lessor will give to the Secured Parties prompt notice thereof and Lessor will give the Secured Parties the right to enter upon the Premises during a thirty (30) -day period commencing upon the Secured Party's receipt of such notice for the purpose of removing any Improvements. Lessor acknowledges that the Secured Parties shall be third -party beneficiaries of this Lease. TOwuCo Site Name: Nonh Olmsted Pah Towe,Oo Site Number: 0X0401