Common use of IN CONSIDERATION Clause in Contracts

IN CONSIDERATION. OF THE PREMISES, the Lessor, subject to the limitations of liability hereinafter stated, hereby covenants and agrees to and with the Lessee, as follows: 1. That the Lessee, upon paying the assessments hereinafter provided for to be paid and performing the agreements and covenants on Lessee's part to be performed, shall at all times during the term hereby created quietly hold and enjoy the premises hereby demised. 2. That the Lessor will maintain and manage said building as a first class apartment house, keeping the alleys, yards, courts, public halls, stairs, roof and public portions of the ground and buildings in good condition and repair and free from obstruction, and will keep said halls and stairs properly lighted and heated. 3. That in case any repairs shall become necessary to the plumbing or heating apparatus or other parts or appliances of said building, the Lessor, except as hereinafter provided, will execute such repairs with due diligence, not being liable for interruptions not reasonably avoidable in the supply of heat and light or for other temporary interruptions in the proper operation of said building. 4. That the Lessor shall use due diligence in operating the elevators and furnishing water, heat, light and service, being permitted, however, in case any repairs shall become necessary or desirable through accident or otherwise to the elevators or to the boilers, pumps, or other machinery connected therewith, to stop the running of the elevators at any hour of the day or night until such repairs are completed, and shall not become liable for interruption of elevator service or of the supply of hot water, steam heat, gas or electricity, nor for any accident occurring in or about the building in the operation of the elevators or the heating, hot water or lighting apparatus or otherwise, nor for any damage, injury, or loss which the Lessee may sustain; further, if Lessor should, at any time, change, convert, or substitute for all or any of the now manually operated elevators, any equal number of automatically operated elevators, Lessee agrees that such change or changes may be accomplished without any notice to or consent of Lessee, and that Lessor shall not become liable for any interruption of elevator service incident to such change or substitution. 5. The Lessor shall keep in good repair the foundations, exterior walls, supports, exterior of all porches, basements, roofs, gutters, beams, cellars, front and rear entrances, main halls and stairways, boilers, and all main or principal pipes for carrying water, gas or steam through the building, together with the main drain pipes and electric conduits, and all existing plumbing, heating and other apparatus intended for the general service of the building; and also all existing plumbing and heating apparatus in the demised premises, provided the Lessee shall give the Lessor prompt notice of any such repairs to be made; and Lessee shall at all reasonable times allow the representatives of the Lessor to enter and inspect said premises hereby demised for the purpose of determining the necessity and character of any such repairs and of making the same, and upon reasonable notice to remove such portions of the walls, floors and ceiling of said premises hereby demised as may be required for the purpose of making such repairs, all portions so removed to be replaced as soon as possible in as good condition as before. All such repairs shall be at the expense of the Lessor, except as herein otherwise provided. 6. That the Lessor will keep said building insured against loss or damage by fire, and in case said building shall be partially damaged by fire, it shall be repaired as speedily as possible at the expense of the Lessor conformably with the plans and specifications on which the building was erected. In case of the total destruction of said building by fire or otherwise, this lease shall thereupon terminate, unless -the insurers shall elect to rebuild the building pursuant to the provisions of the policies of insurance, in which event this lease shall continue in force with respect to the corresponding premises in the building so rebuilt. 7. That in case the apartment herein demised, or any other apartment or apartments in the building, is damaged by fire, explosion or other casualty, an appraisement of the damage done to each apartment shall be made by the Board of Directors, and any insurance collected by the Lessor on account of said damage, shall be expended proportionately in repair of the damage done and in conformity with the original plans, specifications and equipment of the several apartments. 8. That if the said premises are rendered untenantable by fire, explosion or other casualty, the rental hereinafter provided to be paid shall be abated for the period during which the said premises remain untenantable, but further provided that the tenants whose apartments remain tenantable shall not be compelled to pay any increase in rent over the monthly average that each paid during the preceding 6 months as a result thereof, except, that in the event the sum collected from the tenants whose rents have not abated is insufficient to meet the necessary expenses of the Lessor during the period from the date of the damage until the building is rebuilt and rendered tenantable, then the shortage shall be prorated among all the stockholders in the same ratio by which their respective rents were determined in the first instance and the sum due from the Lessee hereunder shall be additional rent and payable as such. If the Lessor shall elect to terminate the lease of the premises, as herein provided, such additional rent herein reserved shall be paid up to the time of such termination, and thereupon this lease shall cease. It is agreed that the Board of Directors of the Lessor Corporation shall have the conclusive power and authority to determine whether or not a particular apartment has been rendered untenantable or not by any casualty and the Lessee hereby agrees to be conclusively bound by any decision that it shall render in this matter. It is also understood and agreed that nothing contained in this paragraph shall be construed as relieving the tenant owner, whose apartment has become untenantable, from paying his pro-rata share of the principal payments upon the outstanding mortgage indebtedness at the time and in the manner that the same shall be due and payable. It is agreed that the proceeds of any "rent" or "use and occupancy" insurance which may be carried by the Lessor, shall inure solely to Lessor. 9. The Lessor covenants and agrees with the Lessee that the Lessor will not sell said building or the land occupied thereby, or any part thereof, without the consent in writing, at the time of such sale, of the owners of not less than two-thirds in amount of the stock of the Lessor. 10. The Lessor further covenants and agrees that it will not mortgage or encumber said building or the land herein described, or any part thereof, without the consent of at least two-thirds of the outstanding capital stock of the Lessor corporation obtained at a regular meeting or a special meeting of the stockholders called for that purpose; provided, however, that the Lessor shall have the right to mortgage or encumber said premises without such consent for the purpose of extending, renewing, refunding, refinancing or paying off any then existing encumbrance or any part thereof, together with all expenses connected therewith. 11. The Lessor further covenants arid agrees that all leases of said apartments in said building entered into between the Lessor and stockholders shall contain substantially the same covenants and agreements as herein set forth.

IN CONSIDERATION. OF THE PREMISES, the Lessor, subject to the limitations of liability hereinafter stated, hereby covenants and agrees to and with the Lessee, as follows: 1. That the Lessee, upon paying the assessments hereinafter provided for to be paid and performing the agreements and covenants on Lessee's part to be performed, shall at all times during the term hereby created crated quietly hold and enjoy the premises hereby demised. 2. That the Lessor will maintain and manage said building as a first class apartment house, keeping the alleys, yards, courts, public halls, stairs, roof and public portions of the ground and buildings in good condition and repair and free from obstruction, and will keep said halls and stairs properly lighted and heated. 3. That in case any repairs shall become necessary to the plumbing or heating apparatus or other parts or appliances of said building, the Lessor, except as hereinafter provided, will execute such repairs with due diligence, not being liable for interruptions not reasonably avoidable in the supply of heat and light or for other temporary interruptions in the proper operation of said building. 4. That the Lessor shall use due diligence in operating the elevators and furnishing water, heat, light and service, being permitted, however, in case any repairs shall become necessary or desirable through accident or otherwise to the elevators or to the boilers, pumps, or other machinery connected therewith, to stop the running of the elevators at any hour of the day or night until such repairs are completed, and shall not become liable for interruption of elevator service or of the supply of hot water, steam heat, gas or electricity, nor for any accident occurring in or about the building in the operation of the elevators or the heating, hot water or lighting apparatus or otherwise, nor for any damage, injury, or loss which the Lessee may sustain; further, if Lessor should, at any time, change, convert, or substitute for all or any of the now manually operated elevators, any equal number of automatically operated elevators, Lessee agrees that such change or changes may be accomplished without any notice to or consent of Lessee, and that Lessor shall not become liable for any interruption of elevator service incident to such change or substitution. 5. The Lessor shall keep in good repair the foundations, exterior walls, supports, exterior of all porches, basements, roofs, gutters, beams, cellars, front and rear entrances, main halls and stairways, boilers, and all main or principal pipes for carrying water, gas or steam through the building, together with the main drain pipes and electric conduits, and all existing plumbing, heating and other apparatus intended for the general service of the building; and also all existing plumbing and heating apparatus in the demised premises, provided the Lessee shall give the Lessor prompt notice of any such repairs to be made; and Lessee shall at all reasonable times allow the representatives of the Lessor to enter and inspect said premises hereby demised for the purpose of determining the necessity and character of any such repairs and of making the same, and upon reasonable notice to remove such portions of the walls, floors and ceiling of said premises hereby demised as may be required for the purpose of making such repairs, all portions so removed to be replaced as soon as possible in as good condition as before. All such repairs shall be at the expense of the Lessor, except as herein otherwise provided. 6. That the Lessor will keep said building insured against loss or damage by fire, and in case said building shall be partially damaged by fire, it shall be repaired as speedily as possible at the expense of the Lessor conformably with the plans and specifications on which the building was erected. In case of the total destruction of said building by fire or otherwise, this lease shall thereupon terminate, unless -the the insurers shall elect to rebuild the building pursuant to the provisions of the policies of insurance, in which event this lease shall continue in force with respect to the corresponding premises in the building so rebuilt. 7. That in case the apartment herein demised, or any other apartment or apartments in the building, is damaged by fire, explosion or other casualty, an appraisement of the damage done to each apartment shall be made by the Board of Directors, and any insurance collected by the Lessor on account of said damage, shall be expended proportionately in repair of the damage done and in conformity with the original plans, specifications and equipment of the several apartments. 8. That if the said premises are rendered untenantable by fire, explosion or other casualty, the rental hereinafter provided to be paid shall be abated for the period during which the said premises remain untenantable, but further provided that the tenants whose apartments remain tenantable shall not be compelled to pay any increase in rent over the monthly average that each paid during the preceding 6 months as a result thereof, except, that in the event the sum collected from the tenants whose rents have not abated is insufficient to meet the necessary expenses of the Lessor during the period from the date of the damage until the building is rebuilt and rendered tenantable, then the shortage shall be prorated among all the stockholders in the same ratio by which their respective rents were determined in the first instance and the sum due from the Lessee hereunder shall be additional rent and payable as such. If the Lessor shall elect to terminate the lease of the premises, as herein provided, such additional rent herein reserved shall be paid up to the time of such termination, and thereupon this lease shall cease. It is agreed that the Board of Directors of the Lessor Corporation shall have the conclusive power and authority to determine whether or not a particular apartment has been rendered untenantable or not by any casualty and the Lessee hereby agrees to be conclusively bound by any decision that it shall render in this matter. It is also understood and agreed that nothing contained in this paragraph shall be construed as relieving the tenant owner, whose apartment has become untenantable, from paying his pro-rata share of the principal payments upon the outstanding mortgage indebtedness at the time and in the manner that the same shall be due and payable. It is agreed that the proceeds of any "rent" or "use and occupancy" insurance which may be carried by the Lessor, shall inure solely to Lessor. 9. The Lessor covenants and agrees with the Lessee that the Lessor will not sell said building or the land occupied thereby, or any part thereof, without the consent in writing, at the time of such sale, of the owners of not less than two-thirds in amount of the stock of the Lessor. 10. The Lessor further covenants and agrees that it will not mortgage or encumber said building or the land herein described, or any part thereof, without the consent of at least two-thirds of the outstanding capital stock of the Lessor corporation obtained at a regular meeting or a special meeting of the stockholders called for that purpose; provided, however, that the Lessor shall have the right to mortgage or encumber said premises without such consent for the purpose of extending, renewing, refunding, refinancing or paying off any then existing encumbrance or any part thereof, together with all expenses connected therewith. 11. The Lessor further covenants arid and agrees that all leases of said apartments in said building entered into between the Lessor and stockholders shall contain substantially the same covenants and agreements as herein set forth.

IN CONSIDERATION. OF THE PREMISES, the Lessor, subject to the limitations of liability hereinafter stated, hereby covenants and agrees to and with the Lessee, as follows: 1. That the Lessee, upon paying the assessments hereinafter provided for to be paid and performing the agreements and covenants on LesseeXxxxxx's part to be performed, shall at all times during the term hereby created crated quietly hold and enjoy the premises hereby demised. 2. That the Lessor will maintain and manage said building as a first class apartment house, keeping the alleys, yards, courts, public halls, stairs, roof and public portions of the ground and buildings in good condition and repair and free from obstruction, and will keep said halls and stairs properly lighted and heated. 3. That in case any repairs shall become necessary to the plumbing or heating apparatus or other parts or appliances of said building, the Lessor, except as hereinafter provided, will execute such repairs with due diligence, not being liable for interruptions not reasonably avoidable in the supply of heat and light or for other temporary interruptions in the proper operation of said building. 4. That the Lessor shall use due diligence in operating the elevators and furnishing water, heat, light and service, being permitted, however, in case any repairs shall become necessary or desirable through accident or otherwise to the elevators or to the boilers, pumps, or other machinery connected therewith, to stop the running of the elevators at any hour of the day or night until such repairs are completed, and shall not become liable for interruption of elevator service or of the supply of hot water, steam heat, gas or electricity, nor for any accident occurring in or about the building in the operation of the elevators or the heating, hot water or lighting apparatus or otherwise, nor for any damage, injury, or loss which the Lessee may sustain; further, if Lessor should, at any time, change, convert, or substitute for all or any of the now manually operated elevators, any equal number of automatically operated elevators, Lessee agrees that such change or changes may be accomplished without any notice to or consent of Lessee, and that Lessor shall not become liable for any interruption of elevator service incident to such change or substitution. 5. The Lessor shall keep in good repair the foundations, exterior walls, supports, exterior of all porches, basements, roofs, gutters, beams, cellars, front and rear entrances, main halls and stairways, boilers, and all main or principal pipes for carrying water, gas or steam through the building, together with the main drain pipes and electric conduits, and all existing plumbing, heating and other apparatus intended for the general service of the building; and also all existing plumbing and heating apparatus in the demised premises, provided the Lessee shall give the Lessor prompt notice of any such repairs to be made; and Lessee shall at all reasonable times allow the representatives of the Lessor to enter and inspect said premises hereby demised for the purpose of determining the necessity and character of any such repairs and of making the same, and upon reasonable notice to remove such portions of the walls, floors and ceiling of said premises hereby demised as may be required for the purpose of making such repairs, all portions so removed to be replaced as soon as possible in as good condition as before. All such repairs shall be at the expense of the Lessor, except as herein otherwise provided. 6. That the Lessor will keep said building insured against loss or damage by fire, and in case said building shall be partially damaged by fire, it shall be repaired as speedily as possible at the expense of the Lessor conformably with the plans and specifications on which the building was erected. In case of the total destruction of said building by fire or otherwise, this lease shall thereupon terminate, unless -the the insurers shall elect to rebuild the building pursuant to the provisions of the policies of insurance, in which event this lease shall continue in force with respect to the corresponding premises in the building so rebuilt. 7. That in case the apartment herein demised, or any other apartment or apartments in the building, is damaged by fire, explosion or other casualty, an appraisement of the damage done to each apartment shall be made by the Board of Directors, and any insurance collected by the Lessor on account of said damage, shall be expended proportionately in repair of the damage done and in conformity with the original plans, specifications and equipment of the several apartments. 8. That if the said premises are rendered untenantable by fire, explosion or other casualty, the rental hereinafter provided to be paid shall be abated for the period during which the said premises remain untenantable, but further provided that the tenants whose apartments remain tenantable shall not be compelled to pay any increase in rent over the monthly average that each paid during the preceding 6 months as a result thereof, except, that in the event the sum collected from the tenants whose rents have not abated is insufficient to meet the necessary expenses of the Lessor during the period from the date of the damage until the building is rebuilt and rendered tenantable, then the shortage shall be prorated among all the stockholders in the same ratio by which their respective rents were determined in the first instance and the sum due from the Lessee hereunder shall be additional rent and payable as such. If the Lessor shall elect to terminate the lease of the premises, as herein provided, such additional rent herein reserved shall be paid up to the time of such termination, and thereupon this lease shall cease. It is agreed that the Board of Directors of the Lessor Corporation shall have the conclusive power and authority to determine whether or not a particular apartment has been rendered untenantable or not by any casualty and the Lessee hereby agrees to be conclusively bound by any decision that it shall render in this matter. It is also understood and agreed that nothing contained in this paragraph shall be construed as relieving the tenant owner, whose apartment has become untenantable, from paying his pro-rata share of the principal payments upon the outstanding mortgage indebtedness at the time and in the manner that the same shall be due and payable. It is agreed that the proceeds of any "rent" or "use and occupancy" insurance which may be carried by the Lessor, shall inure solely to Lessor. 9. The Lessor covenants and agrees with the Lessee that the Lessor will not sell said building or the land occupied thereby, or any part thereof, without the consent in writing, at the time of such sale, of the owners of not less than two-thirds in amount of the stock of the Lessor. 10. The Lessor further covenants and agrees that it will not mortgage or encumber said building or the land herein described, or any part thereof, without the consent of at least two-thirds of the outstanding capital stock of the Lessor corporation obtained at a regular meeting or a special meeting of the stockholders called for that purpose; provided, however, that the Lessor shall have the right to mortgage or encumber said premises without such consent for the purpose of extending, renewing, refunding, refinancing or paying off any then existing encumbrance or any part thereof, together with all expenses connected therewith. 11. The Lessor further covenants arid and agrees that all leases of said apartments in said building entered into between the Lessor and stockholders shall contain substantially the same covenants and agreements as herein set forth.

IN CONSIDERATION. OF THE PREMISES, of the Lessor, subject to rent and tenants covenants hereinafter reserved and contained the limitations of liability hereinafter stated, Lessor hereby covenants and agrees to and with demises unto the Lessee, as follows: 1. That the Lessee, upon paying the assessments hereinafter provided for to be paid and performing the agreements and covenants on Lessee's part to be performed, shall at all times during the term hereby created quietly hold and enjoy Lessee ALL THAT the premises hereby demised. 2. That the Lessor will maintain situate at and manage said building known as a first class apartment house, keeping the alleys, yards, courts, public halls, stairs, roof and public portions of the ground and buildings in good condition and repair and free from obstruction, and will keep said halls and stairs properly lighted and heated. 3. That in case any repairs shall become necessary to the plumbing or heating apparatus or other parts or appliances of said building, the Lessor, except as hereinafter provided, will execute such repairs with due diligence, not being liable for interruptions not reasonably avoidable in the supply of heat and light or for other temporary interruptions in the proper operation of said building. 4. That the Lessor shall use due diligence in operating the elevators and furnishing water, heat, light and service, being permitted, however, in case any repairs shall become necessary or desirable through accident or otherwise to the elevators or to the boilers, pumps, or other machinery connected therewith, to stop the running of the elevators at any hour of the day or night until such repairs are completed, and shall not become liable for interruption of elevator service or of the supply of hot water, steam heat, gas or electricity, nor for any accident occurring in or about the building in the operation of the elevators or the heating, hot water or lighting apparatus or otherwise, nor for any damage, injury, or loss which the Lessee may sustain; further, if Lessor should, at any time, change, convert, or substitute for all or any of the now manually operated elevators, any equal number of automatically operated elevators, Lessee agrees that such change or changes may be accomplished without any notice to or consent of Lessee, and that Lessor shall not become liable for any interruption of elevator service incident to such change or substitution. 5. The Lessor shall keep in good repair the foundations, exterior walls, supports, exterior of all porches, basements, roofs, gutters, beams, cellars, front and rear entrances, main halls and stairways, boilers, and all main or principal pipes for carrying water, gas or steam through the building, 59/61 Park Royal Road London NW10 together with the main drain buildings thereox xxxxx xxxxxxxx xxxxx xxxxxxx xxere the context so admits all additions and fittings all electrical installations boilers plant and machinery the sewers conduits pipes wires drains and electric conduits, cables the roofs gutters walls foundations erected inside the premises and boundary fences stairs passages accessways and service areas and all existing plumbing, heating windows window frames all doors and other door frames and all sanitary and water apparatus intended for installed in or exclusively serving the general service of premises and the building; Landlords fixtures and also all existing plumbing fittings and heating apparatus in appurtenances thereto belonging but excluding tenant's fixtures and fittings (hereinafter called the demised premises, provided ") as the Lessee shall give same is shown for purposes of identification only on the Lessor prompt notice plan annexed hereto and thereon edged red and EXCEPT AND RESERVED (a) the free passage and running of any such repairs to be made; water soil steam gas and Lessee shall at all reasonable times allow electricity through the representatives of sewers drains pipes and wires through over or under the Lessor demised premises TOGETHER with the right to enter and inspect said upon the demised premises hereby demised for the purpose of determining the necessity cleansing maintaining and character of any such repairs and of making repairing the same, (b) all other rights and upon reasonable notice to remove such portions easement or quasi-easement heretofore enjoyed by any adjoining or neighbouring property over or in respect of the walls, floors demised premises and (c) all rights of light and ceiling air or other rights or easements or quasi-easements which would restrict or interfere with the free user and development of and building upon any adjoining land TO HOLD the demised premises unto the Lessee from the date hereof for a term of YEARS expiring on the 23rd day of February Two Thousand and Ten (subject to prior termination as hereinafter provided) YIELDING AND PAYING therefore during the said premises hereby demised as may be required term yearly and proportionately for any fraction of a year the rents hereunder set out: (A) From the day of 2002 until the 24th day of March Two Thousand and Five the rent of Ninety Three Thousand Pounds (Pound Sterling 93,000.00) (B) The review date" for the purpose of making this Clause shall mean the 25th day of March 2005 (1) It is hereby agreed that:- (a) Either party (or its agents) may within the period of six months next before the review date or at any time thereafter serve notice in writing upon the other requiring a review of the yearly rent for the time being payable in respect of the demised premises and the yearly rent payable as from the review date shall be such repairs, sum as shall be agreed between the Lessor and the Lessee as representing the best rent reasonably obtainable in the open market at the review date for the demised premises upon the assumption (if not a fact) that the permitted use of the demised premises and each and every part thereof is for any or all portions so removed of the uses permitted by Classes B1(b) and (c) B2 and B8 of the Town and Country Planning (Use Classes) Order 1987 and for a term of the residue of the term hereby granted commencing on the relevant review date as between a willing Lessor and a willing Lessee with vacant possession and taking no account of (i) Any goodwill attributable to the demised premises by reason of any trade or business carried on therein by the Lessee and (ii) Any improvements to the demised premises carried out during the term by the Lessee with the consent of the Lessor or in pursuance of any obligation to the Lessor whether under this Lease or any other deed or document and (iii) Any effect on rent that the Lessee or the Lessee's predecessors in title have been in occupation of the demised premises but upon the supposition (if not a fact) that the Lessee has complied with all the obligations herein imposed on the Lessee and in all other respects on the terms and conditions of this Lease including the provisions of this Clause (2) If the Lessor and the Lessee shall be replaced unable to agree on the amount of the yearly rent as aforesaid then and in any such case the question shall at the request of either party as soon as possible practicable be referred for determination to some competent independent person to be agreed upon by the Lessor and by the Lessee or in as good condition as before. All such repairs shall the event of failure so to agree to be nominated at the expense request of either party by the President for the time being of the Lessor, except Royal Institution of Chartered Surveyors such person to act as herein otherwise provided.an arbitrator pursuant to The Arbitration Act 1996 6. That (3) In no event shall the yearly rent as aforesaid payablx xx xxx Lessee to the Lessor will keep said building insured against loss or damage from the review date be less than the yearly rent payable by fire, and in case said building shall be partially damaged by fire, it shall be repaired as speedily as possible at the expense Lessee to the Lessor immediately before the review date (a) In respect of the Lessor conformably period of time (hereinafter called "the said interval") beginning with the plans review date and specifications ending on the quarter day next following the date on which the building was erected. In case Lessor and the Lessee shall agree the said yearly rent or (failing agreement) the date on which the decision of such competent [MAP] independent person as aforesaid shall have been made and communicated to the Lessor and the Lessee the rent payable hereunder shall continue to be paid at the rate payable immediately before the review date (b) At the expiration of the total destruction said interval there shall be due as additional rent payable to the Lessor by the Lessee a sum of money equal to the amount (if any) whereby the yearly rent so agreed or determined as aforesaid shall exceed the yearly rent payable immediately before the review date but duly apportioned on a daily basis in respect of the said building interval together with interest on such additional rent at a rate equivalent to the Base Lending Rate from time to time of Barclays Bank Plc or any other rate universally regarded as having been substituted therefore or if there shall be no such rate then at such reasonable rate as shall be notified by fire the Lessor to the Lessee in writing (5) For the avoidance of doubt it is hereby agreed that if at the review date the Lessor shall be obliged legally or otherwise, this lease shall thereupon terminate, unless -the insurers shall elect by public policy or otherwise to rebuild the building pursuant to comply with the provisions of the policies any Act of insurance, in which event this lease shall continue Parliament regulation instrument or bye-law from time to time in force (whether or not legally binding on the Lessor) or any public policy which shall restrict curtail or modify the Lessor's right to revise and increase the yearly rent in accordance with the provisions of this Clause 1 (1) (hereinafter called "the restriction") then on each occasion that such restriction shall be removed or relaxed or modified either wholly or partially the Lessor (or its agents) may serve notice in writing on the Lessee requiring a review of the yearly rent (excluding the additional rent hereinafter referred to) for the time being payable in respect of the demised premises in accordance with the clauses relating to the corresponding premises review of rent herein contained in order to ascertain the building so rebuilt. 7. That in case the apartment herein demised, or any other apartment or apartments in the building, is damaged by fire, explosion or other casualty, an appraisement rack rental open market value of the damage done to each apartment shall be made by demised premises as aforesaid until the Board of Directors, and any insurance collected by the Lessor on account of said damage, shall be expended proportionately in repair expiration of the damage done term and in conformity with the original plans, specifications and equipment of the several apartments. 8. That if the said premises are rendered untenantable yearly rent as aforesaid shall (so far as permitted by fire, explosion or other casualty, the rental hereinafter provided to be paid shall be abated for the period during which the said premises remain untenantable, but further provided that the tenants whose apartments remain tenantable shall not be compelled to pay any increase in rent over the monthly average that each paid during the preceding 6 months as a result thereof, except, that in the event the sum collected from the tenants whose rents have not abated is insufficient to meet the necessary expenses of the Lessor during the period law) from the date of the damage until lifting or the building is rebuilt removal relaxation or modification of the restriction either wholly or partially be the greater of the following: (a) The yearly rent which the Lessor and rendered tenantable, the Lessee shall agree as aforesaid or (failing agreement) the yearly rent determined by such competent independent person as aforesaid and (b) The yearly rent payable by the Lessee to the Lessor immediately before the lifting removal relaxation or modification of the restriction PROVIDED ALWAYS that pending the agreement or determination of the said yearly rent the provision of Clause 1 (4) hereof shall apply (6) If the best rent reasonably obtainable in the open market for the demised premises ascertained in accordance with the provisions hereof shall be higher than the amount of the rent first hereinbefore reserved then the shortage covenant herein for the payment of rent and the right of re-entry hereby reserved shall be prorated among all enforceable by the stockholders Lessor as well as in the same ratio by which their respective rents were determined case of nonpayment of rent so ascertained as in the case of the rent first instance hereinbefore reserved (7) A Memorandum of the rent review shall as soon as may be after such rent has been agreed or determined be endorsed on the Lease and the sum due Counterpart thereof or otherwise recorded AND ALSO YIELDING AND PAYING in addition throughout the said term by way of further rent from time to time the Lessee hereunder shall be additional rent and payable as such. If amount which the Lessor shall elect to terminate the lease of the premises, as herein provided, such additional rent herein reserved shall be paid up pay to the time party entitled in reversion to the Superior Lease (as hereinafter defined) ("the Superior Lessor") by way of such termination, and thereupon this rent additionally reserved pursuant to a lease shall cease. It is agreed that dated the Board 18th day of Directors of November 1996 made between (1) WEB International Limited (2) the Lessor Corporation shall have (as varied by a Deed of Variation dated the conclusive power day of 2002 made between (1) Tameside Metropolitan Borough Council and authority to determine whether or not a particular apartment has been rendered untenantable or not by any casualty and the Lessee hereby agrees to be conclusively bound by any decision that it shall render in this matter. It is also understood and agreed that nothing contained in this paragraph shall be construed as relieving the tenant owner, whose apartment has become untenantable, from paying his pro-rata share of the principal payments upon the outstanding mortgage indebtedness at the time and in the manner that the same shall be due and payable. It is agreed that the proceeds of any "rent" or "use and occupancy" insurance which may be carried by (2) the Lessor, shall inure solely to Lessor. 9. The Lessor covenants and agrees with ) ("the Lessee that the Lessor will not sell said building or the land occupied thereby, or any part thereof, without the consent in writing, at the time of such sale, of the owners of not less than two-thirds in amount of the stock of the Lessor. 10. The Lessor further covenants and agrees that it will not mortgage or encumber said building or the land herein described, or any part thereof, without the consent of at least two-thirds of the outstanding capital stock of the Lessor corporation obtained at a regular meeting or a special meeting of the stockholders called for that purpose; provided, however, that the Lessor shall have the right to mortgage or encumber said premises without such consent for the purpose of extending, renewing, refunding, refinancing or paying off any then existing encumbrance or any part thereof, together with all expenses connected therewith. 11. The Lessor further covenants arid agrees that all leases of said apartments in said building entered into between the Lessor and stockholders shall contain substantially the same covenants and agreements as herein set forth.Superior Lease")