Lease of Ninth Avenue Terminal Shed Sample Clauses

Lease of Ninth Avenue Terminal Shed. Condition of Approval 25c adopted as part of the Project Approvals establishes a Request for Proposal process pertaining to the potential re-use of the Ninth Avenue Terminal Shed building. If, (a) at the completion of such Request for Proposal process City does not award a contract for reuse of the Ninth Avenue Terminal Shed building, (b) the award of a contract for the reuse of the Ninth Avenue Terminal Shed does not result in the reuse of the Ninth Avenue Terminal Shed building or (c) the lease for the reuse of the Ninth Avenue Terminal Shed building terminates or expires during the Term of this Agreement City and Developer hereby agree that the City shall lease to Developer the Ninth Avenue Terminal Shed and all appurtenant areas used in conjunction therewith for and in consideration of the payment of One Dollar ($1.00) per year on the terms and conditions hereinafter set forth. Such lease shall be referred to herein as the "Terminal Shed Lease".
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