COMPLIANCE INFO_2022 - Laserfiche WebLink

Home Browse Search

regarding the Demised Property and further agree that the aggregate net award shall be distributed as follows: (a) Landlord shall be entitled to the entire award for the condemned Demised Property; and (b) Tenants shall be entitled to any award that may be made for the taking of Tenants' inventory and personal property, or costs related to the removal and relocation of Tenants' inventory and personal property, and any other damages suffered by Tenants provided that none of the foregoing reduces Landlord's award. Section 12.04 Except in the case of a termination of this Lease with respect to the Demised Property as described in Section 12.02, in the case of a taking of any portion of the Demised Property, Tenants at their own expense shall proceed with diligence (subject to reasonable time periods for purposes of adjustment of any award and unavoidable delays) to repair or reconstruct (or cause to be repaired and reconstructed) the affected Improvements to a complete architectural unit, and all such Restoration Work shall be performed in accordance with the standards and requirements for Alterations set forth in Article 6. Section 12.05 In case of a taking of a portion of the Demised Property, where this Lease does not terminate as described in Section 12.02, the Base Rent payable hereunder shall be reduced by the product of(i) the Base Rent immediately preceding such taking, multiplied by (ii) the percentage reduction in value of the Demised Property caused by such taking (as reasonably determined by Landlord). Section 12.06 Notwithstanding any other provision of this Article 12, any compensation for a temporary taking shall be payable to Tenants without participation by Landlord, except to the proportionate extent such temporary taking extends beyond the end of the Lease Term, and there shall be no abatement of Rent as a result of any temporary taking affecting the Demised Property. ARTICLE 13 REPORTING COVENANT Section 13.02 Litigation. Tenants shall deliver prompt written notice to Landlord of any litigation or governmental proceedings pending or threatened against Tenants that might materially adversely affect the condition of Tenants (financial or otherwise) or the business or operations at the Demised Property. ARTICLE 14 FUEL PURCHASE AND BRANDING At all times during the term of this Lease, Tenants shall brand the service station as a "MOBIL" station and shall purchase its supply of gasoline from Synergy Petroleum Enterprises, Inc. ("Synergy") so long as Synergy is able to supply gasoline for use at MOBIL branded stations, and meet Tenants' demands This lease will be terminated if gasoline is not supplied from Synergy Petroleum Enterprises Inc. or any other entity operated by the landlord and agreed upon with tenants. 17