Common use of Surrender of the Property Clause in Contracts

Surrender of the Property. 22.1 Upon the termination of this Lease, Lessee shall quit and surrender the leased premises, broom-clean, to Lessor without delay and in good order, condition and repair, ordinary wear and tear excepted, free and clear of all lettings and occupancies, and free and clear of all liens and encumbrances, except that part of the premises which have been taken through eminent domain, if any, after the delivery hereof, without any payment therefor by Lessor. Upon such termination, title to (1) all the "leased property" as defined in Sec. 1.1 hereof, and (2) title to all buildings, alterations, rebuildings, replacements, changes, additions, improvements, fixtures, equipment and appurtenances which have been erected, installed or fixed on or in the leased property during the term of this Lease (not including moveable equipment and trade fixtures owned by Lessee), shall automatically vest in Lessor without the execution of any further instrument and this instrument shall be a conveyance of Lessee's interest in said properties as of such date of termination. Lessee shall, however, on demand execute, acknowledge and deliver to Lessor any further assurances of title to said improvements and properties as Lessor may request, and Lessee hereby irrevocably constitutes and appoints Lessor as Lessee's attorney-in-fact, coupled with an interest, to execute, acknowledge and deliver any such instrument in the name and on behalf of Lessee in the event Lessee shall for any reason fail to execute, acknowledge and deliver the same promptly after demand is made therefore by Lessor. Any personal property owned by Lessee or other occupant of the property which shall remain on the property after the termination of this Lease, and the removal of Lessee or other occupant from the property, may at the option of Lessor, be deemed to have been abandoned and may be disposed of without accountability, as Lessor may see fit, without prejudice to the rights of any such other occupant as against the Lessee. Lessor shall have the right to require Lessee to remove any alterations or additions constructed under Article 10 hereof that were constructed after 1978, subject to the terms of Section 10.7 above. Said rights shall be exercised by Lessor giving written notice to Lessee on or before ninety (90) days' after such termination. If Lessor requires removal of any such alterations or additions, and Lessee does not make such removal in accordance with this section at the time of such termination, or within ten (10) days after such request, whichever is later, Lessor may remove the same (and repair any damage occasioned thereby), and dispose thereof or, at its election, deliver the same to any other place of business of Lessee or warehouse the same. Lessee shall pay the costs of such removal, repair, delivery and warehousing to Lessor on demand. Upon termination of this Lease, whether by forfeiture, lapse of time or otherwise, or upon termination of Lessee's right to possession of the leased premises, Lessee shall remove articles of personal property incident to its business; "Trade Fixtures"; provided, however, that 25 Lessee shall repair any injury or damage to the leased premises which may result from such removal. If Lessee does not remove Lessee's Trade Fixtures from the leased premises prior to the expiration or earlier termination of the lease term, Landlord may, at its option, remove the same (and repair any damage occasioned thereby) and dispose thereof or deliver the same to any other place of business of Lessee or warehouse the same and Lessee shall pay the cost of such removal, repair, delivery and warehousing to Lessor on demand or Lessor may treat such Trade Fixtures as having been conveyed to Lessor with this Lease being a xxxx of sale, without further payment or credit by Lessor to Lessee.

Surrender of the Property. 22.1 Upon the termination of this Lease, whether at the expiration of the Term as stated in Article 4 hereof or prior thereto pursuant to any provision hereof, Lessee shall quit and surrender the leased premises, broom-clean, to Lessor without delay and the Property in good order, condition order and repair, ordinary reasonable wear and tear excepted, free and clear of all lettings and occupancies, and free and clear of all liens and encumbrances. Upon any termination of this Lease, except that all improvements shall automatically and without further act by Lessor or Lessee become the property of Lessor, free and clear of any claim or interest therein on the part of the premises which have been taken through eminent domainLessee or anyone claiming under Lessee, if any, after the delivery hereof, and without any payment therefor by Lessor, provided that Lessee may remove any equipment, fixtures or other personal property of Lessee. Upon such terminationor at any time after the Expiration Date, title to (1) all the "leased property" as defined in Sec. 1.1 hereofif requested by Lessor, and (2) title to all buildings, alterations, rebuildings, replacements, changes, additions, improvements, fixtures, equipment and appurtenances which have been erected, installed or fixed on or in the leased property during the term of this Lease (not including moveable equipment and trade fixtures owned by Lessee), shall automatically vest in Lessor without the execution of any further instrument and this instrument shall be a conveyance of Lessee's interest in said properties as of such date of termination. Lessee shall, howeverwithout charge to Lessor, on demand promptly execute, acknowledge and deliver to Lessor a good and sufficient quitclaim deed and xxxx of sale of all of Lessee's right, title, and interest in and to the Property and the improvements thereon. Lessee hereby irrevocably appoints Lessor as its lawful attorney in fact to execute and deliver for, on behalf of and in the name of Lessee, any further assurances such deed, xxxx of title sale, or other instrument referred to said improvements and properties as in this Article 25 or otherwise, required to document the transfer or reversion to Lessor may requestof such interests of Lessee, and Lessee hereby irrevocably constitutes and appoints Lessor as Lessee's attorney-in-fact, agree that such power of attorney shall be a power coupled with an interest, to execute, acknowledge and deliver any such instrument in the name and on behalf of Lessee in the event Lessee shall for any reason fail to execute, acknowledge and deliver the same promptly after demand is made therefore by Lessor. Any personal property owned by of Lessee or other occupant of the property which shall remain that remains on the property Property after the termination of this LeaseExpiration Date may, and the removal of Lessee or other occupant from the property, may at the option of Lessor, be deemed to have been abandoned by Lessee and may either be retained by Lessor as its property or disposed of of, without accountability, in such manner as Lessor may see fit, without prejudice to the rights of any such other occupant as against the Lessee. Lessor shall have the right to require Lessee to remove any alterations or additions constructed under Article 10 hereof that were constructed after 1978, subject to the terms of Section 10.7 above. Said rights shall be exercised by Lessor giving written notice to Lessee on or before ninety (90) days' after such termination. If Lessor requires removal of any such alterations or additions, and Lessee does not make such removal determine in accordance with this section at the time of such termination, or within ten (10) days after such request, whichever is later, Lessor may remove the same (and repair any damage occasioned thereby), and dispose thereof or, at its election, deliver the same to any other place of business of Lessee or warehouse the same. Lessee shall pay the costs of such removal, repair, delivery and warehousing to Lessor on demand. Upon termination of this Lease, whether by forfeiture, lapse of time or otherwise, or upon termination of Lessee's right to possession of the leased premises, Lessee shall remove articles of personal property incident to its business; "Trade Fixtures"; provided, however, that 25 Lessee shall repair any injury or damage to the leased premises which may result from such removal. If Lessee does not remove Lessee's Trade Fixtures from the leased premises prior to the expiration or earlier termination of the lease term, Landlord may, at its option, remove the same (and repair any damage occasioned thereby) and dispose thereof or deliver the same to any other place of business of Lessee or warehouse the same and Lessee shall pay the cost of such removal, repair, delivery and warehousing to Lessor on demand or Lessor may treat such Trade Fixtures as having been conveyed to Lessor with this Lease being a xxxx of sale, without further payment or credit by Lessor to Lessee.sole discretion,