COM 0596.000 2010-2012 - Laserfiche WebLink

Home

Tenant shall repay Landlord 100%of improvement costs plus 3.47%interest within the initial five(5)year of the lease term,at a rate of no less than$1.02 per square foot for 8,880 sq ft per month,until fully paid. Should the actual cost of the Improvements be less than$500,000,the repayment term only will be decreased accordingly,and the Tenant shall begin payment of the rental amount as stated in Paragraph 6 above. The monthly charge for the Improvements shall be due and payable on the fifth day of the calendar month,such first installment to be prorated for the period between the date of commencement of this lease and the fifth day of the following month. Tenant will be allowed to prepay for the cost of Improvements without penalty. 15. Landlord's and Agent's Insurance. The Tenant is self-insured and no additional insurance policy is required. 16. Surrender, The Tenant shall,at the end of the term of this Lease Agreement or earlier termination thereof,peaceably and quietly vacate and deliver up to Landlord the possession of the premises,together with all additions and alterations made by Tenant,unless Landlord requires removal of the same. Tenant may remove all moveable trade fixtures(if installed by Tenant)on the condition that Tenant shall repair any damage to the premises resulting from the removal of said fixtures. Tenant shall not be required to remove any exterior improvements other than its signs. Any property of the Tenant remaining on the premises after the termination of the Lease Agreement may be disposed of by the Landlord upon 30 days written notice and failure of Tenant to retrieve the property. The parties shall act in good faith. 17. Destruction of Premises. If the premises are partially or totally damaged or destroyed by fire or other casualty so as to become partially or totally untenantable,such damage or destruction, insofar as the same pertains to the building itself,exclusive of any damage to Tenant's fixtures,furniture or other property,shall be repaired or rebuilt at the discretion of the Landlord. Landlord shall advise Tenant within thirty(30)days after the casualty whether they intend to rebuild or repair. If the Landlord elects not to repair or rebuild,this lease shall terminate without further notice and the obligations of either party shall cease. No rent shall be payable from the date such casualty occurs until the repair or rebuilding shall be completed, unless the premises shall be tenantable and there is no substantial interference with Tenant's business. 18. Subordination of Lease to Mortgage. Tenant agrees that this Lease Agreement and all rights of Tenant hereunder shall be subject and subordinate to all present and future mortgages made or to be made by Landlord as security for any indebtedness of Landlord;provided,however, that the mortgagee shall agree to recognize this lease in the event of foreclosure and will cause the sale of said premises to be made subject to Tenant's lease,provided that the Tenant is not in default under any of the terms,conditions,or covenants of this lease at the time of such foreclosure. 19. American With Disabilities Act. Landlord and Tenant understand Tenant,as a government entity,is required to comply with the Americans with Disabilities Act,hereinafter"ADA." Landlord herein expressly warrants that all access from the parking area and common areas to -5-