COMPLIANCE INFO_2025 - Laserfiche WebLink

Home Browse Search

Docusign Envelope ID: E21PV17-483B•42A9-8682-F4952EB743C1 ARTICLE 2 TERM SecdM 2.01 (a) Tl-e 'MUal term of this lei sill be Ten (10) years. This Lease shall commer= on the Commencement Date at d terrn`inate on JUN 1 sr 2 -Chiginal. Lease unless sooner terminated as hereinafter set forth, The qjM Term - as such tam is used herein, means the OrighW lease Tenn as extended (Or as maY be extended) Prrrsu t to Section 2.0.0 below, unless sooner termfimud as hercinafter set forth. (b) This Lease shall be de=nod to be in full farce and effect upon the Cornme=merlt Date. Tenant shall be deemed to be in possession of the Demised Ptoperrty upon the Commencement Date. Section 2.0 (a) Tenants shall have the option to extend the term of this Lease for TWO FIVE (5) Year P'erW upon and subject to the terms set forth below is this Sermon 2.0202. The first option period (the "Option Period"} shall commence � at the expiton of the Original Lease Term. The Option (b) on Period shall continue for a peTiod of 5 years from and after the conmiencement date of such Opdon Period. Exce as otherwise expressly provided h in, all the terms and conditions of this Lease applicable to the Original Lease Tan ;shall owfinw to apply dufing each Option Period. is no event shall Tewmts have any options to extend the terns of this Lease except as expressly provided herein. A notice delivered try Tenants to Landlord in order to extend ft term of this; Lem for any Option Period pumant to the terms hereof is referred to herein, as an�ExtewLqa Notice". (c) The horse rent for the Option Period shall be negotiated and decided by the landlord, at the time the Option is exercised. The parties shall attempt to negotiate the fair market rents at the time of the exercise of any option, if they are unable to come to an agreement then the lease option period is considered void. d) To extend the Lease Term for the First Option Period (i) Te:rmts must and shall deliver to Landlord an Extension Notice not earlier than twelve (12) months prior to the expiration of the Original Lease Term and not later than two( ) mom prior to the expiration of the Origina[ Lease Terns; and (H)as of the date such Extension i+ otioe is deliver to Landlord,and as of the date the First Option Pe ffiA is scheduled to commence, there shall be no existing Event of Default under this Lease. (e) Without limiting anything contained in Section 36.02 hereof: time is of the strictest essence in the perfonm=e of each provision of this Sectio2.G2. Either party, upon request of the other,shall execute and acknowledge, in form suitable for recording, an instrument confirming any Option Period, with Ten is paying all applicable recording costs. 0 Page 5 of 39