Common use of Parking Garage Clause in Contracts

Parking Garage. This Option Agreement and the rights of CRA hereunder are expressly conditioned upon the following: 7.1 At the time of closing of the conveyance of the Parking Garage Parcel the parties will execute a parking agreement (the “Parking Agreement”) which shall provide the following: 7.2 CRA will construct a multi-level parking garage, inclusive of site improvements required for a parking garage (the “Parking Garage”) at its sole expense, to be located on the Parking Parcel. Construction of the Parking Garage shall include all required drainage improvements. 7.3 Chinook Construction will be provided the opportunity to bid on the construction contract for the Parking Garage, but CRA shall not be obligated to accept such bid and shall at all times exercise its lawful purchasing authority in accordance with applicable law. 7.4 CRA will agree to cause the Parking Garage construction to commence by September 1, 2020 and be completed by April 30, 2021. 7.5 The Parking Agreement will give Developer the right to use of 140 parking spaces for use by Xxxxxx University, plus up to 60 additional spaces for the benefit of the Development Parcel (as depicted on the Site Plan) sufficient to meet City of New Port Xxxxxx codes in connection with a hotel or other development. The Parking Agreement will also include easement rights for ingress and egress to the Parking Garage, and to the use of the aforesaid spaces, to the extent authorized and allowed by any bond issued for construction of the the Parking Garage. To the extent sufficient surface parking is available to meet the city code parking requirements for the Development Parcel, the spaces allowed within the Parking Garage shall be reduced or eliminated. 7.6 Upon commencement of use of the Parking Garage, Developer shall be responsible for its pro rata share of the Parking Garage operating expenses pursuant to a budget to be attached to the Parking Agreement. The pro rata share shall be a fraction the numerator of which will be 140 and the denominator of which will be the total number of parking spaces in the Parking Garage. The Parking Agreement shall grant the Development Parcel the exclusive right to parking spaces in the Parking Garage and the Development Parcel shall be responsible for its pro rata share of the maintenance expenses calculated in the same manner as provided above, where the numerator is the total spaces dedicated to the Development Parcel.

Parking Garage. This Option Agreement Landlord shall have the right in its sole discretion and at its sole cost and expense, to construct a parking garage on all or any portion of the rights site approximately as designated on Exhibit M so long as, upon commencement of CRA hereunder are expressly conditioned upon construction, Landlord diligently pursues completion of the followingparking garage and Landlord avoids unreasonable inconvenience to Tenant by meeting the following conditions: 7.1 At (i) Landlord shall provide interim parking to Tenant at no cost to Tenant in the time adjacent "Quebec Court ll" parking lot or on other nearby lots as Landlord shall reasonably determine, which could include, at Landlord's discretion, a parking location sewed by shuttle service to the Building at Landlord's sole cost and expense; (ii) Upon completion of closing construction, Tenant is permitted to use at no cost that number of spaces in the parking garage such that Tenant's total number of spaces, when totaling its parking garage spaces and any surface parking spaces remaining available to Tenant subsequent to the construction of the conveyance of the Parking Garage Parcel the parties will execute a parking agreement (the “Parking Agreement”) which shall provide the following: 7.2 CRA will construct a multi-level parking garage, inclusive of site improvements required for a shall be no fewer than 476; Landlord, however, reserving the right to designate spaces in the parking garage (for Tenant's use and for use by third parties, and to change such designations in its reasonable judgment, except as set forth below. As for Tenant's spaces within the “Parking Garage”) at its sole expenseparking garage, if and when completed, Landlord agrees to be located designate and reserve to Tenant 25 full size spaces for executive parking on the Parking Parcel. Construction first floor of the Parking Garage shall include all required drainage improvements. 7.3 Chinook Construction will be provided parking garage nearest to the opportunity east entrance to bid on the construction contract for Building in the Parking Garagearea most convenient to the Leased Premises, but CRA which designation shall not be obligated changed by Landlord. At Landlord's cost all of Tenant's spaces will be marked "Reserved for Time Warner" (or otherwise as Tenant may request). Landlord shall use its best efforts to accept such bid congregate Tenant's spaces. Of those additional parking spaces to be made available to Tenant in the parking garage, spaces on the top floor of the garage shall be allocated proportionally between the Quebec Court l and shall at all times exercise its lawful purchasing authority Quebec Court ll buildings in accordance with applicable law. 7.4 CRA will agree to cause the Parking Garage construction to commence by September 1, 2020 and be completed by April 30, 2021. 7.5 The Parking Agreement will give Developer the right to use of 140 parking spaces for use by Xxxxxx University, plus up to 60 additional spaces for the benefit leasable square footage of the Development Parcel (as depicted buildings, even if such allocation means that Tenant has a greater number of spaces on the Site Plantop floor than on any other floor. All other spaces to be designated for Tenant may be on other floors of the parking garage as Landlord may reasonably determine; (iii) sufficient to meet City of New Port Xxxxxx codes No expenses in connection with a hotel or other development. the construction of the garage shall be Building Operating Expenses; (iv) The Parking Agreement will also include easement rights for ingress parking garage is built in conformity with all applicable statutes, laws and egress to the Parking Garage, and to the ordinances; and (v) Tenant's permitted use of the aforesaid spaces, number of spaces assigned to it in the extent authorized and allowed by any bond issued for construction of the the Parking Garage. To the extent sufficient surface parking is available to meet the city code parking requirements for the Development Parcel, the spaces allowed within the Parking Garage garage shall be reduced or eliminated. 7.6 Upon commencement free of use of the Parking Garage, Developer shall be responsible charge except for its pro rata Tenant's proportionate share of costs associated with the Parking Garage operating expenses pursuant to a budget to be attached to the Parking Agreement. The pro rata parking garage, which proportionate share shall will be a fraction whose numerator is the numerator number of which will be 140 spaces in the garage that Landlord is required to designate for Tenant and the does, and whose denominator of which will be is the total number of parking spaces in the Parking Garageparking garage. The Parking Agreement Such costs shall grant be Building Operating Costs and shall be net of any public parking fees collected by Landlord for use of the Development Parcel the exclusive right to garage, if any. Use of parking spaces in addition to those permitted to Tenant under the Parking Garage and the Development Parcel shall Lease may be responsible for subject to a charge by Landlord, in its pro rata share of the maintenance expenses calculated in the same manner as provided above, where the numerator is the total spaces dedicated to the Development Parcelsole discretion.

Parking Garage. This Option Agreement and A. Prior to the rights of CRA hereunder are expressly conditioned upon Preliminary Commencement Date, Landlord, at Landlord's expense, shall construct on the following: 7.1 At the time of closing subsurface levels of the conveyance of the Parking Garage Parcel the parties will execute a parking agreement (the “Parking Agreement”) which shall provide the following: 7.2 CRA will construct a multi-level parking garage, inclusive of site improvements required for Building a parking garage capable of accommodating at least four hundred (400) parking spaces (the “"Parking Garage”) at its sole expense"), to be located on the Parking Parcel. Construction of the Parking Garage shall include all required drainage improvements. 7.3 Chinook Construction will be provided the opportunity to bid on the construction contract for the Parking Garage, but CRA shall not be obligated to accept such bid and shall at all times exercise its lawful purchasing authority in accordance with applicable law. 7.4 CRA will agree to cause the Parking Garage construction to commence plans and specifications approved by September 1, 2020 and be completed by April 30, 2021. 7.5 The Parking Agreement will give Developer the right to use of 140 parking spaces for use by Xxxxxx University, plus up to 60 additional spaces for the benefit of the Development Parcel (as depicted on the Site Plan) sufficient to meet City of New Port Xxxxxx codes in connection with a hotel or other developmentTenant. The Parking Agreement will also include easement rights for ingress and egress to the Parking Garage, and to the use of the aforesaid spaces, to the extent authorized and allowed by any bond issued for construction of the the Parking Garage. To the extent sufficient surface parking It is available to meet the city code parking requirements for the Development Parcel, the spaces allowed within understood that the Parking Garage shall be reduced or eliminated. 7.6 Upon commencement completed substantially similar to the garage existing as of the date of this Lease in the Adjacent Building, and tendered in broom-clean condition (i.e., the finished concrete, striping (if desired by Tenant), painting, lighting, sprinklering and exhaust fans in place shall all be similar to that which is presently provided at the Adjacent Building, including also the finished elevator lobbies but excluding all gates, booths, and other equipment typically utilized in the operation of a parking garage). Throughout the Lease Term, Tenant shall have exclusive use of the Parking Garage, Developer and Tenant shall pay Landlord the Parking Garage Rental, as Additional Base Rental. The Parking Garage Rental shall be payable in equal monthly installments during the Lease Term, commencing as of the Preliminary Commencement Date. B. Throughout the Lease Term, Tenant, at its sole cost and expense, shall operate and maintain the Parking Garage, and shall make all repairs thereto and perform all maintenance therein required in order to maintain the Parking Garage in good operating condition (including re-painting, restriping, re-sealing, re-tubing all light fixtures, performing all repairs to the lights, light fixtures, gates and doors therein and all ventilation, drainage, fire and life safety equipment servicing the Parking Garage) unless necessitated by the negligent act or omission of Landlord, or any agent, employee, or contractor of Landlord. Landlord shall not be responsible to perform or provide any services whatsoever in or for the Parking Garage, other than structural repairs not caused by reason of any act or omission of Tenant or any Tenant Related Parties. Throughout the Lease Term, Landlord shall make any repairs to the Parking Garage which are the responsibility of Landlord under the two immediately preceding sentences. Tenant shall operate the Parking Garage in compliance with all applicable Laws. Tenant, at its pro rata share discretion, may employ one or more independent contractors to assist Tenant in the performance of its obligations under this section. Tenant will not cause the Property to incur the Parking Tax levied by Montgomery County Maryland pursuant to Montgomery Co. Code Chaptex 00 Xxxxxon 60.1 et. seq., as same may xx xxxxxxter amended, supplemented or replaced. Notwithstanding the foregoing, Tenant shall be entitled to change the use of the first floor portion of the Premises to a use which would result in the imposition of the Parking Garage operating expenses pursuant Tax provided both (x) Tenant is able to a budget provide assurances reasonably acceptable to be attached to Landlord confirming that upon termination of this Lease and the cessation of the use proposed by Tenant, the Property will no longer incur the Parking Agreement. Tax, and (y) Tenant shall bear the entire Parking Tax, and any other costs or expenses resulting by reason of the imposition of same against the Property. C. The pro rata share shall be a fraction the numerator use of which will be 140 and the denominator of which will be the total number of parking spaces in the Parking Garage. The Parking Agreement shall grant the Development Parcel the exclusive right to parking spaces in the Parking Garage and the Development Parcel elevator vestibules servicing the Parking Garage by Tenant and Tenant's visitors, invitees and licensees shall be responsible at their sole risk and expense, and in no event shall Landlord have any liability for its pro rata share damage to, theft or loss of property of the maintenance expenses calculated Tenant or of Tenant's employees, visitors, licensees or invitees suffered or sustained in or about said parking areas or elevator vestibules. Further, in no event shall Landlord have any liability for any injury or death occurring within the Parking Garage or such vestibules unless caused by the negligence or willful misconduct of Landlord. Tenant shall indemnify and hold Landlord harmless from all such claims in accordance with Section 15.A above. The Parking Garage and all security therefore shall be under the exclusive control of Tenant, who shall have the right to establish rules and regulations governing the use of the Parking Garage, and the right to change such rules and regulations from time to time, and the right to limit or terminate the right of any parties to use the Parking Garage. D. If the Parking Garage is damaged or destroyed by casualty, then unless the Premises is also damaged or destroyed by such casualty and this Lease is terminated as a result thereof, Landlord shall commence and proceed with reasonable diligence to restore the Parking Garage to substantially the same manner as provided abovecondition it was in immediately prior to the happening of the casualty. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, where except that Landlord shall allow Tenant a fair diminution of Parking Garage Rental on a per diem basis (based on the numerator is ratio of the square foot area of the unusable portion of the Parking Garage to the total spaces dedicated square foot area of the Parking Garage) during the time and to the Development Parcelextent any damage to the Parking Garage or the means of access thereto causes the Parking Garage to be rendered unusable and not used by Tenant. E. On the Termination Date, Tenant shall remove all of Tenant's Property from the Parking Garage and surrender the Parking Garage to Landlord in broom clean, "as is" condition.

Parking Garage. This Option Agreement and Borrower shall cause that certain parking facility located on the rights of CRA hereunder are expressly conditioned upon the following: 7.1 At the time of closing of the conveyance of the Property known as Parking Garage Parcel the parties will execute a parking agreement (the “Parking Agreement”) which shall provide the following: 7.2 CRA will construct a multi-level parking garage, inclusive of site improvements required for a parking garage 2 (the “Parking Garage”) at its sole expense, to be located on inspected by Xxxxxx Xxxxxx Associates, Inc. or any other engineering firm reasonably approved by Lender (each, an “Approved Engineer”) at least once in each twelve (12) month period during the Parking ParcelTerm, and shall cause such Approved Engineer to deliver to Lender a written report summarizing the conclusions and recommendations of such inspection. Construction In the event that the Approved Engineer recommends any remedial action or demolition and reconstruction of the Parking Garage shall include all required drainage improvements. 7.3 Chinook Construction will be provided (collectively, the opportunity to bid on “Parking Garage Work”), Borrower shall, at Borrower’s sole cost and expense, promptly commence the construction contract for performance of the Parking Garage, but CRA shall not be obligated to accept such bid same and shall at all times exercise its lawful purchasing authority diligently and expeditiously pursue the same to completion in accordance with applicable law. 7.4 CRA will agree to cause the Parking Garage construction to commence by September 1a good and workmanlike and lien free manner. At Lender’s option, 2020 and be completed by April 30, 2021. 7.5 The Parking Agreement will give Developer Lender shall have the right to use of 140 parking spaces for use by Xxxxxx Universityreview and approve (such approval not to be unreasonably withheld or delayed) the construction budget and schedule, plus up to 60 additional spaces for all plans and specifications, all engineering and other professionals’ reports, the benefit of general construction agreement, the Development Parcel (as depicted on the Site Planarchitect’s and/or engineer’s agreement(s) sufficient to meet City of New Port Xxxxxx codes in connection with a hotel or and all other development. The Parking Agreement will also include easement rights for ingress and egress material agreements relating to the Parking Garagedesign, construction and to the use of the aforesaid spaces, to the extent authorized and allowed by any bond issued for construction of the the Parking Garage. To the extent sufficient surface parking is available to meet the city code parking requirements for the Development Parcel, the spaces allowed within the Parking Garage shall be reduced or eliminated. 7.6 Upon commencement of use of the Parking Garage, Developer shall be responsible for its pro rata share completion of the Parking Garage operating Work. Borrower shall pay all reasonable out-of pocket expenses pursuant to a budget to be attached to the Parking Agreement. The pro rata share shall be a fraction the numerator incurred by Lender (including Lender’s reasonable attorneys’ fees) in connection with Lender’s review and approval of which will be 140 and the denominator of which will be the total number of parking spaces in the Parking Garage. The Parking Agreement shall grant the Development Parcel the exclusive right to parking spaces in the Parking Garage and Work. Additionally, Lender shall have the Development Parcel right (if it desires) to verify (by an inspection conducted at Borrower’s expense) the performance of the work associated with the Parking Garage Work. Notwithstanding anything to the contrary contained herein, the Parking Garage Work shall be responsible deemed to be a Material Alteration for its pro rata share all purposes set forth in Section 5.4.2 above (other than the second sentence of the maintenance expenses calculated in the same manner as provided Section 5.4.2 above, where the numerator is the total spaces dedicated to the Development Parcel).