|
days following the dale of such noticein the event Lessor elects to terminate this Lease. Lessee shall have the right within 10 days after receipt of the
<br /> termination notice to give written notice to Lessor of Lessee's commitment to pay for the repair of such damage without reimbursement from Lessor.
<br /> Lessee shall provide Lessor with said funds or satisfactory assurance thereof within 30 days after making such commitment. In such event this Lease
<br /> shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are
<br /> y
<br /> available. If Lessee does not make the required commitmrent. this Lease shall terminate as of the date specified in the termination notice.
<br /> 9.4 Total Destruction. Notwithstanding any other provision hereof, if a Premises Total Destruction occurs. this Lease shall terminate
<br /> 60 days following such Destruction. If the damage or destruction was caused by the gross negligence or willful misconduct of Lessee, Lessor shall
<br /> have the right 10 recover Lessor's damages from Lessee,except as provided in Paragraph 8.6.
<br /> 9.5 Damage Near End oi.Term- If at any time during the last 6 months of this Lease there is damage for which the cost to repair
<br /> exceeds one month's Base Rent,whether or not an lnsurd'd Loss.Lessor may terminate this Lease effective 60 days following the date of occurrence of
<br /> such damage by giving a written termination notice to�Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the
<br /> foregoing, if Lessee at that time has an exercisable option
<br /> extend this Lease or to purchase the Premises,then Lessee may preserve this Lease by,
<br /> (a) exercising such option and (b) providing Lessor with'any shortage in insurance proceeds (or adequate assurance thereof) needed to make the
<br /> repairs on or before the earlier of(i)the date which is 10 days after Lessees receipt of Lessor's written notice purporting to terminale this Lease. or(ii)
<br /> the day prior to the date upon which such option expiresIf Lessee duly exercises such option during such period and provides Lessor with funds(or
<br /> adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shalt, at Lessor's commercially reasonable expense, repair such
<br /> damage as soon as reasonably possible and this Lease shall continue in full force and effect. if Lessee fails 10 exercise such option and provide such
<br /> funds or assurance during such period, thea' this Lease shall terminate on the date specified in the termination notice and Lessee's option shall be
<br /> extinguished.
<br /> 9.6 Abatement of Rent; Lessee's Reriieldies.
<br /> (a) Abatement. In the eveil'of Premises Partial Damage or Premises Total Destruction or a Hazardous Substance
<br /> Condition for which Lessee is not responsible under this Lease. the Rent payable by Lessee for the period required for the repair, remediation or
<br /> restoration of such damage shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not to exceed the
<br /> proceeds received from the Rental Value insurance. All other obligations of Lessee hereunder shah be performed by Lessee, and Lessor shall have no
<br /> liability for any such damage,destruction,remediation,repair or restoration except as provided herein.
<br /> (b) Remedies. If Lessor is dbligated to repair or restore the Premises and does not commence, in a substantial and
<br /> meaningful way. such repair or restoration within 90 days atter such obligation shall accrue, Lessee may, at any time prior to the commencement of
<br /> such repair or restoration, give written notice to Lessor.-6d to any Lenders of which Lessee has actual notice, of Lessee's election to terminate this
<br /> Lease on a date not less than 60 days following the giving of such notice. If Lessee gives such notice and such repair or restoration is not commenced
<br /> within 30 days thereafter, this Lease shall terminate as Of the date specified in said notice. If the repair or restoration is commenced within such 30
<br /> days, this Lease shall continue in full force and effect. ''Commence"shall mean either the unconditional authorization of the preparation of the required
<br /> plans,or the beginning of the actual work on the Premises,whichever first occurs.
<br /> 9.7 Termination; Advance Payments,411-lpon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable
<br /> adjustment shalt be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor, Lessor shall, in addition,return
<br /> to Lessee so much of Lessee's Security Deposit as has not been,or is not then required to be,used by Lessor.
<br /> 10. Real Property Taxes. '
<br /> 10.1 Definition. As used herein, the term"Real Property Taxes"shall include any form of assessment, real estate, general, special.
<br /> ordinary or extraordinary.or rental levy or tax(other lha(irinheritance, personal income or estate taxes):improvement bond; andlor license fee imposed
<br /> upon or levied against any legal or equitable interest of'Lessor in the Project, Lessor's right to other income therefrom, andlor Lessor's business of
<br /> leasing. by any authority having the direct or indirect power to tax and where the funds are generated with reference to the Project address and where
<br /> the proceeds so generated are to be applied by the city.rcounty or other local It authority of a jurisdiction within which the Project is located. The
<br /> term "Real Property Taxes" shall also include any tax:'fee, levy, assessment or charge. or any increase therein: (i) imposed by reason of events
<br /> occurring during the term of this Lease, including but not'limlted to..a change in the ownership of the Project,(ii)a change in the improvements thereon,
<br /> andlor(iii),levied or assessed on machinery or equipment provided by Lessor to Lessee pursuant to this Lease. In calculating Real Property Taxes for
<br /> any calendar year, the Real Property Taxes for any real estate tax year shall be included in the calculation of Real Property Taxes for such calendar
<br /> year based upon the number of days which such calendar year and tax year have in common.
<br /> 10.2 Payment of Taxes. Except as otherwise provided in Paragraph 10.3, Lessor shall pay the Real Property Taxes applicable to the
<br /> 9
<br /> Project,and said payments shall be included in the calbulation of Common Area Operating Expenses in accordance with the provisions of Paragraph
<br /> 4.2-
<br /> 10.3 Additional Improvements. Common Area Operating Expenses shall not include Real Property Taxes specified in the tax
<br /> assessor's records and work sheets as being caused 'by additional improvements placed upon the Project by other lessees or by Lessor for the
<br /> exclusive enjoyment of such other lessees. Notwithstanding Paragraph 10.2 hereof, Lessee shall, however, pay to Lessor at the time Common Area
<br /> Operating Expenses are payable under Paragraph 4,2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations.
<br /> Trade Fixtures or Utility Installations placed upon the Premises by Lessee or at Lessee's request or by reason of any alterations or improvements to the
<br /> f PAGE 12 OF 23 ..__,
<br /> IN13't LS INITIALS
<br /> Oc 1999-AIR COMMERCIAL REAL ESTATE ASSOCIATION FORM MTN-14-2113E
<br /> A. .
<br />
|