Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the Lessee, the Lessee shall pay as Additional Rent the Lessee's proportionate share of all levies, taxes, assessments, water and sewer rates and charges, liens, and license and permit fees, charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general or special, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to the Term of this Lease, and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Premises, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a party, or against the Lessor because of the lessor's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions. 2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business. 3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor. 4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee. 1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. 1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender. a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost. 2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there: (a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits. (b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof. (c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insured." (a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises. (b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance. (c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default. (a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee. (b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question. 5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction. 6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows: (a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used: (b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration. 7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency. 8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Lease Agreement (Learningstar Inc)
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the Lessee, the Lessee Tenant shall pay as Additional Rent the Lessee's proportionate share of prior to delinquency all levies, taxes (including sales taxes and gross receipt taxes), assessments, water and sewer rates and charges, liens, and license and permit fees, charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general or special, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to the Term of this LeaseTerm, and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law law, ordinance or governmental rule or regulationregulation thereof, or pursuant to any recorded covenants or agreements agreements, and the reasonable cost of contesting any of the foregoing (all of which are hereinafter referred to as "Impositions"the “IMPOSITIONS”) upon or with respect to the Leased Premises, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances thereto, or directly upon this Lease lease or the rent payable hereunder Rent (defined in Section 7(f)) or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a party, or against the Lessor Landlord because of the lessor's Landlord’s estate or interest herein. The Lessee's proportionate share Additionally, Tenant shall pay as aforesaid its Proportionate Share of such Impositions any Imposition which is not imposed upon the Premises as a separate entity but which is imposed upon all or part of the Property or upon the leases or rents relating to the Property.
(i) Nothing herein contained shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee interpreted as requiring Tenant to pay any income, sales, gross receipts, business privilege, transfer or excess profits or corporate capital stock tax imposed or assessed upon the Lessor by reason Landlord, unless such tax or any similar tax is levied or assessed in lieu of its collection all or any part of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason an increase in any Imposition.
(ii) If it shall not be lawful for Tenant to reimburse Landlord for any of the fact that any such estimate exceeded or was less than Impositions, the Minimum Annual Rent shall be increased by the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption portion of such utilities or services Imposition allocable to Leased Premises. The following utilities shall be separately metered for the leased Premises: heatTenant, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing unless prohibited by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limitslaw.
(biii) Upon requestIf Landlord receives any rebate, Lessee will deposit refund or similar payment relating to any Impositions paid by or charged back to Tenant, Landlord shall promptly pay to Tenant Tenant’s Proportionate Share of such rebate or refund, net of any expenses incurred by Landlord in obtaining the same. Tenant may request that Landlord initiate an action to contest or challenge an Imposition, and Landlord agrees to consult with Lessor Tenant regarding such contest or challenge and to take such action as Landlord deems reasonable and appropriate under the policies circumstances as a result of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy such consultation. Tenant shall not be subject initiate any action to cancellation, termination or change except after ten (10) days contest any Impositions without Landlord’s prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insuredconsent."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Lease Agreement (CNS Inc /De/)
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted Subject to the Lesseeprovisions of Article 6 hereof, Tenant shall pay, as additional rent, throughout the Lessee shall pay as Additional Rent term hereof and any renewal or extension thereof, before any fine, penalty, interest or cost may be added thereto for the Lessee's proportionate share of non-payment thereof (or sooner if elsewhere herein required), all levies, taxes, assessments, water and sewer rates rents and charges, liens, charges and license and permit fees, charges for public utilities and all other charges, imposts and burdens each and every levy or charge of whatsoever the same nature, general or and special, ordinary and extraordinary, foreseen or and unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to the Term of this Lease, any kind and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of nature whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositionsimpositions") which may hereafter be created, levied, assessed, adjudged, imposed or charged upon or with respect to the Leased Premises, the Lot upon which the same is located Premises or any improvements made thereto, or on any part of the foregoing or any appurtenances theretoforegoing, or directly indirectly upon this Lease lease or the rent rents payable hereunder or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a partyhereunder, or against the Lessor Landlord, because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share , by any federal, state or municipal government, or under any law, ordinance or regulation thereof or of such Impositions any public authority whatsoever, including, among others, all special tax bills and general, special or other assessments and liens or charges made on local or general improvements or under any governmental or public power or authority whatsoever; provided however, if any imposition shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly created, levied, assessed, adjudged, imposed, charged or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, become a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor lien with respect to any Imposition a period of time which commences before or by reason ends after the expiration of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such lease (other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated than by Lessee and any subtenants, licensees and concessionaires reason of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence breach of the payment of the required premiumterms hereof by Tenant), or premiums thereof.
(c) All policies of insurance then Tenant shall only be required to be carried by Lessee pursuant to this Lease shall provide pay that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees proportion of such other names insured."
(a) Lessee will not doimposition which is, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due proportion of said period which falls within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date terms of an invoice this lease; and further provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The LessorXxxxxx's obligation or election to restore the Leased premises under this Article pay real estate taxes shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lesseebegin when rent commences to accrue.
Appears in 1 contract
Taxes and Other Impositions. 1(a) Commencing on the Lease Commencement Date and continuing through the remainder of the Term, Tenant shall be solely obligated for the costs of all real estate taxes and other impositions for the Demised Premises, including the Building and the Land, and Tenant agrees to pay all installments of such imposition which accrue during the Term. Within thirty (30) days after each billing is transmitted This provision shall expressly survive the expiration or termination of this Lease in order to the Lessee, the Lessee shall pay as Additional Rent the Lesseesettle up Tenant's proportionate pro rata share of such taxes for the final Lease Year of the Term.
(b) Real estate taxes and other impositions shall mean all leviesad valorem taxes, water and sanitary taxes, assessments, water and sewer rates and charges, liens, and license licenses and permit feesfees or any other taxes imposed, charges for public utilities assessed or levied against the Land and the Demised Premises, and all other charges, imposts and impositions or burdens of whatsoever whatever kind and nature, general or special, foreseen or unforeseen, whether or not particularized by name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, which are applicable to at any time during the Term of this Lease, and which are may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Demised Premises, the Lot upon which the same is located Land, or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Demised Premises. Or , or upon this transaction or any related documents to which the Lessee Tenant is a partyparty or successor-in- interest, or against the Lessor Landlord because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share , by any governmental authority, or under any law, including among others, all rental, sales, use, inventory or other similar taxes and any special tax bills and general, special or other assessments and liens or charges made on local or general improvements or any governmental or public power or authority whatsoever.
(c) Notwithstanding the foregoing, if any imposition shall be created, levied, assessed, adjudged, imposed, charged or become a lien with respect to a period of time which commences before the Lease Commencement Date or ends after the expiration date of the Term (other than an expiration date of the Term by reason of breach of any of the terms hereof by Tenant), then Tenant shall only be required to pay that portion of such Impositions imposition which is equal to the proportion of said period which falls within the Term. If Tenant is permitted to pay (by the assessing and collecting authorities) and elects to pay any imposition in installments, Tenant shall be determined by dividing nevertheless pay any and all installments thereof which are due prior to the total area expiration of the leased premise by the total area Term or sooner termination of the building Term. Nothing contained in this Lease shall require Tenant to pay any income or excess profits or taxes assessed against Landlord, or any corporation, capital stock and applying the percentage thus calculated franchise taxes imposed upon Landlord. Landlord agrees to the total amount deliver to Tenant copies of the Impositions due. The Lessee shall all such notices of real estate taxes and impositions which Landlord receives.
(d) Tenant agrees to pay each Landlord such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection real estate taxes and impositions within thirty (30) days after receipt of such Impositions; and in the latter event, the Lessee written notice from Landlord.
(e) Tenant shall furnish to the LessorLandlord, not later than thirty (30) days following such paymentafter the last day upon which they may be paid without any fine, a receipt penalty, interest or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its electionadditional cost, but not the dutyin any event, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates date thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereofall real estate taxes and impositions.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Build to Suit Industrial Lease Agreement (Wells Real Estate Fund Ix Lp)
Taxes and Other Impositions. 1(a) Commencing on the Lease Commencement Date and continuing through the remainder of the Term, Tenant shall be solely obligated for the costs of all real estate taxes and other impositions for the Demised Premises, including the Building and the Land, and Tenant agrees to pay all installments of such imposition which accrue during the Term. Within thirty (30) days after each billing is transmitted This provision shall expressly survive the expiration or termination of this Lease in order to the Lessee, the Lessee shall pay as Additional Rent the Lesseesettle up Tenant's proportionate pro rata share of such taxes for the final Lease Year of the Term.
(b) Real estate taxes and other impositions shall mean all leviesad valorem taxes, water and sanitary taxes, assessments, water and sewer rates and charges, liens, and license licenses and permit feesfees (except for any permit fees associated with the initial construction to be performed by Landlord pursuant to Section 8 hereof) or any other taxes imposed, charges for public utilities assessed or levied against the Land and the Demised Premises, and all other charges, imposts and impositions or burdens of whatsoever whatever kind and nature, general or special, foreseen or unforeseen, whether or not particularized by name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, which are applicable to at any time during the Term of this Lease, and which are may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Demised Premises, the Lot upon which the same is located Land, or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts of amount payable by any subtenants or other occupants of the Leased Demised Premises. Or , or upon this transaction or any related documents to which the Lessee Tenant is a partyparty or successor-in-interest, or against the Lessor Landlord because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share , by any governmental authority, or under any law, including, among others, all rental, sales, use, inventory or other similar taxes and any special tax bills and general, special, or other assessments and liens or charges made on local or general improvements or any governmental or public power or authority whatsoever.
(c) Notwithstanding the foregoing, if any imposition shall be created, levied, assessed, adjudged, imposed, charged or become a lien with respect to a period of time which commences before the Lease Commencement Date or ends after the expiration date of the Term (other than an expiration date of the Term by reason of breach of any of the terms hereof by Tenant), then Tenant shall only be required to pay that portion of such Impositions imposition which is equal to the proportion of said period which falls within the Term if Tenant is permitted to pay (by the assessing and collecting authorities) and elects to pay any imposition in installments. Tenant shall be determined by dividing nevertheless pay any and all installments thereof which would otherwise become delinquent prior to the total area expiration of the leased premise by the total area Term or sooner termination of the building Term. Nothing contained in this Lease shall require Tenant to pay any income or excess profits or taxes assessed against Landlord, or any corporation, capital stock and applying the percentage thus calculated franchise taxes imposed upon Landlord. Landlord agrees to the total amount deliver to Tenant, copies of the Impositions due. The Lessee shall all such notices of real estate taxes and impositions which Landlord receives.
(d) Tenant agrees to pay each such Imposition at the Lessor's election real estate taxes and impositions prior to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee delinquency.
(e) Tenant shall furnish to the LessorLandlord, not later than thirty (30) days following such paymentafter the last day upon which they may be paid without any fine, a receipt penalty, interest or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its electionadditional cost, but not the dutyin any event, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates date thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereofall real estate taxes and impositions.
(cf) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide Landlord agrees that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of LessorTenant's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises financial obligations for the purposes permitted assessments due under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase Protective Covenants (as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, hereinafter defined) shall be conclusive evidence of capped at $9.817 per year during the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the initial Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Taxes and Other Impositions. 1. Within thirty A. Commencing on the Delivery Date and continuing through the remainder of the Term, Lessee shall be solely obligated to pay in full all Real Estate Taxes and Other Impositions (30as hereinafter defined) days after each billing is transmitted to for the LesseePremises, including, but not limited to, the Buildings and the Land, which accrue during the Term. Lessee acknowledges and agrees that Real Estate Taxes and Other Impositions are payable by Lessee on an accrual basis and, accordingly, Lessee shall pay be liable for all Real Estate Taxes and Other Impositions which accrue from and after the Delivery Date and thereafter throughout the Term, without regard for the date or dates on which installments of Real Estate Taxes and Other Impositions may, in fact, be due. With respect to any Real Estate Taxes or Other Impositions, Lessee shall have the right to file with or against the authority imposing such tax or imposition a protest or challenge of the validity of any such sum provided that (i) Lessee shall timely file and diligently pursue to protest or challenge and keep Lessor apprised in writing of the status thereof, and (ii) the existence of the protest or challenge will prevent the exercise by any taxing authority of any right or remedy, affecting the Premises or Lessor, which may be available as Additional Rent a result of non-payment of the Lessee's proportionate share of sum being protested or challenged.
B. The term “Real Estate Taxes and Other Impositions”, as used in this Lease shall mean all leviesad valorem taxes, bond assessments, public facilities assessments (including the SSA Tax, as hereinafter defined), water and sanitary taxes, assessments, water and sewer rates and charges, liens, and license licenses and permit feesfees or any other taxes imposed, charges for public utilities assessed or levied against the Land and the Premises, and all other charges, imposts and impositions or burdens of whatsoever whatever kind and nature, general or special, foreseen or unforeseen, whether or not particularized by name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, which are applicable to at any time during the Term of this Lease, and which are may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Premises, the Lot upon which the same is located Land, or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Premises. Or , or upon this transaction or any related documents to which the Lessee is a partyparty or successor-in-interest, or against the Lessor because of the lessor's Lessor’s estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined , by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly any governmental authority, or to the government or other public authority charged with the collection of such Impositions; and in the latter eventunder any law, the Lessee shall furnish to the Lessorincluding among others, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any incomeall rental, sales, gross receiptsuse, business privilegeinventory or other similar taxes and any special tax bills and general, transfer special or excess profits tax imposed other assessments and liens or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments charges made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity local or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other general improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by governmental or in the possession of the Lesseepublic power or authority whatsoever.
Appears in 1 contract
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the LesseeTENANT shall pay promptly, when due and payable, the Lessee shall pay as Additional Rent following items (collectively, the Lessee's proportionate share of "impositions") all levies, taxes, assessmentsassessments (including, water and sewer rates and chargeswithout being limited to, liens, and license and permit fees, charges all assessments for public utilities and all other charges, imposts and burdens of whatsoever nature, general improvements or special, foreseen or unforeseenbenefits, whether or not particularized by name, ordinary commenced or extraordinary, which are applicable completed prior to the Term of this Lease, date hereof and which are created, levied, assessed, confirmed, adjudged, imposed whether or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Premises, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a party, or against the Lessor because of the lessor's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included completed within the definition of "Impositions" referred to thereinterm hereof; however, then the lessee shall have the rightif such assessments are payable in installments, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times only those installments falling due during the term of this Lease or any exercised renewal hereof shall be payable by TENANT, and TENANT may not create or negotiate any imposition of installments which exceed the term of this Lease or any exercise renewal hereof without the consent of LANDLORD, which consent may not unreasonably be withheld), ground rents, water, sewer and other rents, rates and charges, excises, levies, license fees, permit fees, inspection fees and any governmental authorization fees and charges, whether general or special, of every character (including all interest and penalties thereon), which at any time during such other times as Lessee occupies the leased Premises for any part there:
term hereof may be assessed, levied, confirmed or imposed on or with respect to or be a lien upon (a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to property or death of one personany part thereof or any estate, and One Million Dollars ($1,000,000.00) on account of bodily injuries to right or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
interest therein; (b) Upon requestany occupancy, Lessee will deposit with Lessor use or possession of or activity conducted on the policies leased property or any part thereof (excluding income, franchise and similar taxes of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
LANDLORD); (c) All policies of any rent, insurance required hazard assessment or other sums payable by TENANT to be carried by Lessee pursuant to LANDLORD hereunder; (d) this Lease shall provide that or the policy shall not be subject to cancellation, termination leasehold estate hereby created; (e) the earnings or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that receipts from the insurance afforded by this policy use or policies for more than one named insured shall not operate to increase the limits occupancy of the companies' liabilityleased property; and/or (f) all charges for water, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any gas, heat, light, telephone, television, electricity, power and other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon utility and communication services used on or about the leased Premises shall by itself or in combination with other circumstances existing at property. If the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term commencement date of this Lease until does not coincide with the date when such increase tax or imposition is eliminated. In additionimposed then such taxes or impositions, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused when not levied or was a contributing cause imposed solely by reason of TENANT's use or occupancy of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such ratepremises, shall be conclusive evidence of apportioned according to the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been fiscal period covered by such insurance.
tax or imposition. LANDLORD represents that there are (c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage signing of this Lease) no unpaid taxes or destructionassessments upon the premises, then either lessor or Lessee may terminate this Lease to LANDLORD's actual knowledge, contemplated to be assessed upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destructionpremises.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the Lessee, the Lessee Borrower shall promptly pay as Additional Rent the Lessee's proportionate share of before delinquency all levies, taxes, assessments, water and sewer rates and charges, liensfines or impositions, and license and permit feesgeneral, charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general local or special, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to special (collectively the Term of this Lease, and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") ), levied upon or with respect to the Leased PremisesMortgaged Property, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances theretothereof, or directly upon this Lease Lender's interest therein, or upon the Deed of Trust or the rent payable hereunder or amounts payable Indebtedness, by any subtenants duly or other occupants of legally constituted public authority, municipality, township, county or state or the Leased Premises. Or upon this transaction or any related documents to which United States, and exhibit the Lessee is a party, or against the Lessor because of the lessor's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed thereof to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed Lender upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event Lender's request; provided that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the rightBorrower, at its electionBorrower's own cost and expense may, but not the dutyif it shall in good faith so desire, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition Impositions, in which event Borrower may defer the payment thereof for such period as such contest shall be actively prosecuted and shall be pending undetermined; provided further, however, that Borrower shall not allow any such Impositions so contested to remain unpaid for such length of time as shall permit all or any portion of the Mortgaged Property, or the lien thereon created by such item, to recover payments made on account be sold by federal, state, county or municipal authority for the nonpayment thereof. The lessee Pending any such contest, Borrower shall cooperate fully with furnish to Lender an indemnity bond secured by a deposit in cash or other security acceptable to Lender, in the lessor with respect amount of the tax or assessment being contested by Borrower, plus a reasonable additional sum to such proceedings to the extent reasonably necessary pay all costs, interest and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, penalties which may be imposed or incurred in connection with such proceedings as Additional Rent promptly upon being billed thereforetherewith. In the event that the Lessor shall elect not to contest the validity one or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount more of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included on Lender's interest in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereonMortgaged Property, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term Deed of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured Trust or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they Indebtedness cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destructionlawfully paid by Borrower, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to Borrower shall repay the other party; provided, however, that if Lessor has not entered into binding contracts Indebtedness in full without penalty within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable demand therefor by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destructionLender.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Deed of Trust, Assignment of Rents and Security Agreement (Glimcher Realty Trust)
Taxes and Other Impositions. 1(a) Impositions During the Principal Term. Within Tenant shall pay throughout the Principal Term, as additional rent hereunder, at least thirty (30) days after each billing is transmitted to before any fine, penalty, interest or cost may be added thereto for the Lesseenon-payment thereof, but in any event by the due date thereof, the Lessee shall pay as Additional Rent the Lessee's proportionate share following (all of which are herein collectively called "impositions"):
(i) all levies, taxes (including payments required to be made in lieu of taxes), assessments, water and sewer rates rents and charges, liens, and license and permit fees, and charges for public utilities imposed, assessed or charged on or with respect to the Premises by any federal, state, municipal or other authority ("Governmental Authority") or under any law, ordinance, or regulation of any Governmental Authority ("Law");
(ii) any assessments, charges, levies or other impositions imposed, assessed or charged on or with respect to the Premises pursuant to the terms and provisions of any agreement, covenant, easement, restriction, declaration or other matter now of record (all such terms and provisions referred to in this subsection (ii) being herein collectively called "Recorded Agreement"); and
(iii) all other charges, imposts and or burdens of whatsoever kind and nature, whether or not particularized by. name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to at any time during the Term term of this Lease, and which are Lease may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Premises, the Lot upon which the same is located Premises or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon or with respect to this Lease or the rent paid or payable hereunder or amounts paid or payable by any subtenants or other occupants of the Leased Premises. Or , or upon or with respect to the leasing, operation, use or occupancy of the Premises, or upon or with respect to this transaction or any related documents to which the Lessee Tenant is a partyparty or successor in interest, or against the Lessor Landlord because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed or the Premises, by any Governmental Authority, or under any Law, including, among others, all special tax bills and general, special or other assessments and liens or charges made on local or general improvements or under any governmental or public power or authority whatsoever and transit taxes, taxes based upon gross receipts of rent or sales taxes applicable to require the Lessee to pay any incomegross receipt of rent, sales, gross receipts, business privilege, transfer or excess profits tax and personal property taxes imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Articlefixtures, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when duemachinery, the Lessor shall have the rightequipment, at its electionapparatus, but not the dutyappurtenances, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be furniture and other personal property used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities if any imposition shall be created, levied, assessed, adjudged, imposed, charged, or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance become a lien with respect to Leased Premisesa period of time which commences before or ends after the commencement and expiration dates, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Sectionrespectively, of certificates thereofthe Principal Term, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance then Tenant shall only be required to be carried by Lessee pursuant to this Lease shall provide pay that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees proportion of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises imposition which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard equal to the use proportion of said period which falls within the leased Premises for the purposes permitted under this Lease Principal Term, except that if any imposition is levied or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, assessed with respect to every premium relating to coverage a period of time which commences before or ends after the commencement and expiration dates, respectively, of the Leased Premises Principal Term, but is due and payable in whole or in part during a period falling within the Term Principal Term, Tenant shall be required to pay all installments of this Lease until such increase imposition which are payable during the Principal Term. If Tenant is eliminated. In additionpermitted to pay (by the assessing and collecting authorities or entities and by the holders of any mortgages or other liens upon the Premises) and elects to pay any imposition in installments, if applicable, Lessor may at its option rectify Tenant shall nevertheless pay all unpaid installments thereof prior to the condition existing on the Leased Premises which caused expiration or was a contributing cause sooner termination of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of Principal Term, whether or not such action to Lessee as Additional Rent, payable on demandinstallments are then due or payable. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rateThe term "impositions", shall be conclusive evidence of the several items not include any net income or excess profits taxes assessed against Landlord, or any corporation capital stock and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide franchise taxes imposed upon Landlord and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay include the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event current City of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other partyPhiladelphia Business Privilege Tax; provided, however, that that, if Lessor has not entered into binding contracts within sixty (60) days at any time prior to the expiration of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destructionPrincipal Term or any Extended Period, Lessee shall have the optionany net income tax, at its sole discretionassessment, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on levy or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee charge shall be payable only to imposed upon Landlord or the date Premises in lieu of the damage or destruction and any rent other tax or other charges paid charge included in advance by Lessee clause (i) or clause (iii) of this subsection 4(b), and shall be refunded measured by Lessor to Lessee or based upon net income or profits derived from real estate (as distinguished from net income or profits generally), then such new tax, assessment, levy or charge shall be included in "impositions" to the extent that such new tax, assessment, levy or charge would be payable if the same are for a period after Premises were the damage or destruction.
6. If only property of Landlord subject thereto and the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild income and restore the leased Premises within such 180-day period and during the period profits received by Landlord from the date Premises were the only income and profits of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restorationLandlord.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Taxes and Other Impositions. 1(a) Commencing on the Lease Commencement Date and continuing through the remainder of the Term, Tenant shall be solely obligated to pay in full all Real Estate Taxes and Other Impositions (as hereinafter defined) for the Demised Premises, including the Building and the Land, which accrue during the Term. Within thirty Tenant acknowledges and agrees that Real Estate Taxes and other Impositions are payable by Tenant on an accrual basis and, accordingly, Tenant shall be liable for all Real Estate Taxes and Other Impositions which accrue from and after the Lease Commencement Date and thereafter throughout the Term, without regard for the date or dates on which installments of Real Estate Taxes and Other Impositions may, in fact, be due. With respect to any Real Estate Taxes or Impositions, Tenant shall have the right to file with or against the authority imposing such tax or imposition a protest or challenge of the validity of any such sum provided that (30i) days after each billing Tenant shall timely file and diligently pursue to protest or challenge and keep Landlord apprised in writing of the status thereof, and (ii) neither Landlord nor the Demised Premises will be subject to levy or other legal action of any kind resulting from non-payment so long as Tenant is transmitted to pursuing the Lesseeprotest or challenge.
(b) The term "Real Estate Taxes and Other Impositions", the Lessee as used in this Lease shall pay as Additional Rent the Lessee's proportionate share of mean all leviesad valorem taxes, water and sanitary taxes, assessments, water and sewer rates and charges, liens, and license licenses and permit feesfees or any other taxes imposed, charges for public utilities assessed or levied against the Land and the Demised Premises, and all other charges, imposts and impositions or burdens of whatsoever whatever kind and nature, general or special, foreseen or unforeseen, whether or not particularized by name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, which are applicable to at any time during the Term of this Lease, and which are may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Demised Premises, the Lot upon which the same is located Land, or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Demised Premises. Or , or upon this transaction or any related documents to which the Lessee Tenant is a partyparty or successor-in-interest, or against the Lessor Landlord because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share of such Impositions , by any governmental authority, or under any law, including among others, all rental, sales, use, inventory or other similar taxes and any special tax bills and general, special or other assessments and liens or charges made on local or general improvements or any governmental or public power or authority whatsoever.
(c) Notwithstanding the foregoing, if any Real Estate Taxes or Other imposition shall be determined by dividing created, levied, assessed, adjudged, imposed, charged or become a lien with respect to a period of time which commences before the total area Lease Commencement Date or ends after the expiration date of the leased premise Term (other than an expiration date of the Term by reason of breach of any of the terms hereof by Tenant), then Tenant shall only be required to pay that portion which accrues during the Term. If Tenant is permitted to pay (by the total area assessing and collecting authorities) and elects to pay any imposition in installments, Tenant shall nevertheless pay any and all installments thereof which are due prior to the expiration of the building and applying the percentage thus calculated to the total amount Term or sooner termination of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2Term. Nothing contained in this Lease shall be deemed to require the Lessee Tenant to pay any income, sales, gross receipts, business privilege, transfer income or excess profits tax or taxes assessed against Landlord, or any corporation, capital stock, franchise,estate, single business, inheritance, succession or transfer taxes imposed or assessed upon the Lessor by reason Landlord. Landlord agrees to deliver to Tenant copies of its collection all notices of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its businessReal Estate Other Taxes and impositions which Landlord receives.
3(d) Tenant agrees to pay all Real Estate Taxes and Other Impositions directly to the appropriate authority prior to the delinquency thereof. Notwithstanding Tenant acknowledges that ad valorem real property taxes for the foregoing provisions Demised Premises are payable in arrears. Accordingly, the property taxes (or a portion thereof) which will accrue during the final Lease Year will not be payable until a date after the end of the Term. During the final Lease Year of the Term, Tenant shall, after receipt of prior written notice from Landlord making specific reference to this ArticleSection 10(d), pay to Landlord, in addition to making the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay which are due to the Lessor or to any mortgagee of taxing authority during the lessor, at the time when the installment of basic monthly Rent is payable hereunderTerm, an amount equal to one-twelfth (1/12th) 1/12th of the annual Real Estate Taxes and Other Impositions as estimated by which will accrue during such final Lease Year, but will not be due and payable until a date after the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason end of the fact that any such Term. Landlord shall estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out monthly installments, based on the most recent information officially available from the relevant taxing authorities and shall give written notice to be in excess Tenant of the Impositions actually owed shall be returned promptly by Lessor to Lesseeamount of the required payment. The amounts paid by Tenant acknowledges and agrees that the lessee installments payable pursuant to this Section shall be used 10(d) are in addition to pay the Impositions but Minimum Rent and Additional Rent otherwise required by this Lease. At such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by time as the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity actual tax xxxx or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings bills (to the extent reasonably necessary and that the tax year or years covered by such xxxx or bills are within the final Lease Year) become available for the final Lease Year, Landlord shall send to Tenant copies of such bills. To the extent, if any, that the amounts paid to Landlord may be insufficient to pay such xxxx or bills, Tenant shall pay any deficiency to Landlord within thirty (30) calendar days after receipt of a copy of the lessor all reasonable costs and expensestax xxxx from Landlord, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In establishing the event that the Lessor shall elect not to contest the validity or amount of any real estate the deficiency. After payment in full of the actual tax (xxxx or assessment pertaining thereto) bills for the tax year or years covered by the final Lease Year, the amount, if any, by which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then estimated payments by Tenant exceed the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, actual taxes shall be distributed on an equitable basis between refunded to Tenant within thirty (30) calendar days after the Lessor and date Landlord receives the Lesseeapplicable tax xxxx. The provisions of this Section 10(d) shall survive expiration of this Lease.
1. The Lessee (e) Tenant shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the termfurnish Landlord, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share receipt of the cost and expense of such utilities and other servicesa written request from Landlord, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of all Real Estate Taxes and Other Impositions during the required premium, or premiums thereof.
twelve (c12) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits months preceding recipt of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insurednotice."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted Grantor will pay, or cause to the Lesseebe paid, the Lessee or contest, in good faith by appropriate proceedings, and if so contested, shall pay post such payment bonds or provide such other collateral as Additional Rent the Lessee's proportionate share of shall be satisfactory to Holder, all levies, taxes, assessments, water assessments and sewer rates and charges, liens, and license and permit fees, other charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general or special, foreseen levies imposed upon or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to the Term of this Lease, and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon against or with respect to the Leased PremisesMortgaged Property or the ownership, the Lot upon which use, occupancy or enjoyment of any portion thereof, or any utility service thereto, as the same is located become due and payable, including but not limited to all ad valorem taxes assessed against the Mortgaged Property or any improvements made theretopart thereof, any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a party, or against the Lessor because of the lessor's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay deliver promptly to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with Holder such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment thereof as Holder may require. No commitments have been made to any Governmental Authorities, utility company, school board, church or other religious body, or any homeowners association, or to any other organization, group, or individual relating to the Mortgaged Property which would impose an obligation upon Grantor to make any contribution or dedications of money or land or to construct, install or maintain any improvements of a public or private nature on or off the Mortgaged Property; and no Governmental Authority or utility company has imposed any requirement that any developer of the required premiumMortgaged Property pay directly or indirectly any special fees or contributions or incur any expenses or obligations in connection with the construction of single family residences upon the Mortgaged Property, or premiums thereof.
(c) All policies exclusive of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor regular local real estate and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims school taxes assessed against the same named insured by any other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policiesMortgaged Property. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or As used in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited toMortgage, the abandonment of term "GOVERNMENTAL AUTHORITY" means the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restorationUnited States, the charges payable by Lessee shall xxxxx as follows:
(a) If state, the Leased Premises are used during such periodcounty, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lesseecity, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other propertypolitical subdivision in which the Mortgaged Property is located, ownedand any court or political subdivision, installedagency, made by or in instrumentality having or exercising jurisdiction over Grantor or the possession of the LesseeMortgaged Property.
Appears in 1 contract
Samples: Deed of Trust (Apartment Investment & Management Co)
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the LesseeBorrower shall promptly pay before delinquency, the Lessee shall pay as Additional Rent the Lessee's proportionate share of all levies, taxes, assessments, water and sewer rates and charges, liensfines or impositions, and license and permit feesgeneral, charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general local or special, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, which are applicable to special (collectively the Term of this Lease, and which are created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") ), levied upon or with respect to the Leased PremisesMortgaged Property, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances theretothereof, or directly upon the Agent's and the Lenders' interest therein, or upon this Lease Mortgage or the rent payable hereunder or amounts payable Loans, by any subtenants duly or other occupants of legally constituted public authority, municipality, township, county or state or the Leased Premises. Or upon this transaction or any related documents to which United States, and exhibit the Lessee is a party, or against the Lessor because of the lessor's estate or interest herein. The Lessee's proportionate share of such Impositions shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed thereof to require the Lessee to pay any income, sales, gross receipts, business privilege, transfer or excess profits tax imposed or assessed upon the Lessor by reason of its collection of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, Agent within ten (10) Business Days (as defined in the event Agreement) thereafter, provided that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the rightBorrower, at its electionBorrower's own cost and expense may, but not the dutyif it shall in good faith so desire, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason of the fact that any such estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition Impositions, in which event Borrower may defer the payment thereof for such period as such contest shall be actively prosecuted and shall be pending undetermined. However, Borrower shall not allow any such Impositions so contested to remain unpaid for such length of time as shall permit all or any portion of the Mortgaged Property, or the lien thereon created by such item, to recover payments made on account be sold by federal, state, county or municipal authority for the nonpayment thereof. The lessee Pending any such contest, Borrower shall cooperate fully with the lessor with respect to such proceedings furnish to the extent reasonably necessary and shall pay Agent an indemnity bond secured by a deposit in cash or other security acceptable to the lessor Agent, on the behalf of the Lenders in the amount of the tax or assessment being contested by Borrower, plus a reasonable additional sum to pay all reasonable costs costs, interest and expenses, including without limitation attorneys fees, penalties which may be imposed or incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lesseetherewith.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insured."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Credit Agreement (MPW Industrial Services Group Inc)
Taxes and Other Impositions. 1(a) Commencing on the Lease Commencement Date and continuing through the remainder of the Term, Tenant shall be solely obligated to pay in full all Real Estate Taxes and Other Impositions (as hereinafter defined) for the Demised Premises, including the Building and the Land, which accrue during the Term. Within thirty Tenant acknowledges and agrees that Real Estate Taxes and other Impositions are payable by Tenant on an accrual basis and, accordingly, Tenant shall be liable for all Real Estate Taxes and Other Impositions which accrue from and after the Lease Commencement Date and thereafter throughout the Term, without regard for the date or dates on which installments of Real Estate Taxes and Other Impositions may, in fact, be due. With respect to any Real Estate Taxes or Impositions, Tenant shall have the right to file with or against the authority imposing such tax or imposition a protest or challenge of the validity of any such sum provided that (30i) days after each billing Tenant shall timely file and diligently pursue to protest or challenge and keep Landlord apprised in writing of the status thereof, and (ii) neither Landlord nor the Demised Premises will be subject to levy or other legal action of any kind resulting from non-payment so long as Tenant is transmitted to pursuing the Lesseeprotest or challenge.
(b) The term "Real Estate Taxes and Other Impositions", the Lessee as used in this Lease shall pay as Additional Rent the Lessee's proportionate share of mean all leviesad valorem taxes, water and sanitary taxes, assessments, water and sewer rates and charges, liens, and license licenses and permit feesfees or any other taxes imposed, charges for public utilities assessed or levied against the Land and the Demised Premises, and all other charges, imposts and impositions or burdens of whatsoever whatever kind and nature, general or special, foreseen or unforeseen, whether or not particularized by name, and whether general or special, ordinary or extraordinary, foreseen or unforeseen, which are applicable to at any time during the Term of this Lease, and which are may be created, levied, assessed, confirmed, adjudged, imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law or governmental rule or regulation, or pursuant to any recorded covenants or agreements (all of which are hereinafter referred to as "Impositions") upon or with respect to the Leased Demised Premises, the Lot upon which the same is located Land, or any improvements made thereto, or on any part of the foregoing or any appurtenances thereto, or directly upon this Lease or the rent payable hereunder or amounts payable by any subtenants or other occupants of the Leased Demised Premises. Or , or upon this transaction or any related documents to which the Lessee Tenant is a partyparty or successor-in-interest, or against the Lessor Landlord because of the lessorLandlord's estate or interest herein. The Lessee's proportionate share of such Impositions , by any governmental authority, or under any law, including among others, all rental, sales, use, inventory or other similar taxes and any special tax bills and general, special or other assessments and liens or charges made on local or general improvements or any governmental or public power or authority whatsoever.
(c) Notwithstanding the foregoing, if any Real Estate Taxes or Other imposition shall be determined by dividing created, levied, assessed, adjudged, imposed, charged or become a lien with respect to a period of time which commences before the total area Lease Commencement Date or ends after the expiration date of the leased premise Term (other than an expiration date of the Term by reason of breach of any of the terms hereof by Tenant), then Tenant shall only be required to pay that portion which accrues during the Term. If Tenant is permitted to pay (by the total area assessing and collecting authorities) and elects to pay any imposition in installments, Tenant shall nevertheless pay any and all installments thereof which are due prior to the expiration of the building and applying the percentage thus calculated to the total amount Term or sooner termination of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2Term. Nothing contained in this Lease shall be deemed to require the Lessee Tenant to pay any income, sales, gross receipts, business privilege, transfer income or excess profits tax or taxes assessed against Landlord, or any corporation, capital stock, franchise,estate, single business, inheritance, succession or transfer taxes imposed or assessed upon the Lessor by reason Landlord. Landlord agrees to deliver to Tenant copies of its collection all notices of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its businessReal Estate Other Taxes and impositions which Landlord receives.
3(d) Tenant agrees to pay all Real Estate Taxes and Other Impositions directly to the appropriate authority prior to the delinquency thereof. Notwithstanding Tenant acknowledges that ad valorem real property taxes for the foregoing provisions Demised Premises are payable in arrears. Accordingly, the property taxes (or a portion thereof) which will accrue during the final Lease Year will not be payable until a date after the end of the Term. During the final Lease Year of the Term, Tenant shall, after receipt of prior written notice from Landlord making specific reference to this ArticleSection 10 (d), pay to Landlord, in addition to making the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay which are due to the Lessor or to any mortgagee of taxing authority during the lessor, at the time when the installment of basic monthly Rent is payable hereunderTerm, an amount equal to one-twelfth (1/12th) 1/12th of the annual Real Estate Taxes and Other Impositions as estimated by which will accrue during such final Lease Year, but will not be due and payable until a date after the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason end of the fact that any such Term. Landlord shall estimate exceeded or was less than the amount of such Imposition. Any payments by Lessee which turn out monthly installments, based on the most recent information officially available from the relevant taxing authorities and shall give written notice to be in excess Tenant of the Impositions actually owed shall be returned promptly by Lessor to Lesseeamount of the required payment. The amounts paid by Tenant acknowledges and agrees that the lessee installments payable pursuant to this Section shall be used 10(d) are in addition to pay the Impositions but Minimum Rent and Additional Rent otherwise required by this Lease. At such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by time as the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity actual tax xxxx or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings bills (to the extent reasonably necessary and that the tax year or years covered by such xxxx or bills are within the final Lease Year) become available for the final Lease Year, Landlord shall send to Tenant copies of such bills. To the extent, if any, that the amounts paid to Landlord may be insufficient to pay such xxxx or bills, Tenant shall pay any deficiency to Landlord within thirty (30) calendar days after receipt of a copy of the lessor all reasonable costs and expensestax xxxx from Landlord, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In establishing the event that the Lessor shall elect not to contest the validity or amount of any real estate the deficiency. After payment in full of the actual tax (xxxx or assessment pertaining thereto) bills for the tax year or years covered by the final Lease Year, the amount, if any, by which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then estimated payments by Tenant exceed the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, actual taxes shall be distributed on an equitable basis between refunded to Tenant within thirty (30) calendar days after the Lessor and date Landlord receives the Lesseeapplicable tax xxxx. The provisions of this Section 10(d) shall survive expiration of this Lease.
1. The Lessee (e) Tenant shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the termfurnish Landlord, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption of such utilities or services to Leased Premises. The following utilities shall be separately metered for the leased Premises: heat, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing by the Lessor the Lessee's proportionate share receipt of the cost and expense of such utilities and other servicesa written request from Landlord, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limits.
(b) Upon request, Lessee will deposit with Lessor the policies of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of all Real Estate Taxes and Other Impositions during the required premium, or premiums thereof.
twelve (c12) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy shall not be subject to cancellation, termination or change except after ten (10) days prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits months preceding recipt of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insurednotice."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
Samples: Build to Suit Lease Agreement (Petco Animal Supplies Inc)
Taxes and Other Impositions. 1. Within thirty (30) days after each billing is transmitted to the Lessee, the Lessee Tenant shall pay as Additional Rent the Lessee's proportionate share of prior to delinquency all levies, taxes (including sales taxes and gross receipt taxes), assessments, water and sewer rates and charges, liens, and license and permit fees, charges for public utilities and all other charges, imposts and burdens of whatsoever nature, general or special, foreseen or unforeseen, whether or not particularized by name, ordinary or extraordinary, . which are arc applicable to the Term of this LeaseTerm, and which are created, levied, assessed, confirmed, adjudged, arc imposed or charged by any federal, state or municipal government or public authority of whatsoever nature, or under any law law, ordinance or governmental rule or regulationregulation thereof, or pursuant to any recorded covenants or agreements agreements, and the reasonable cost of contesting any of the foregoing (all of which are hereinafter referred to as "Impositions"the “IMPOSITIONS”) upon or with respect to the Leased Premises, the Lot upon which the same is located or any improvements made thereto, any part of the foregoing or any appurtenances thereto, or directly upon this Lease lease or the rent payable hereunder Rent (defined in Section 7(f) or amounts payable by any subtenants or other occupants of the Leased Premises. Or upon this transaction or any related documents to which the Lessee is a party, or against the Lessor Landlord because of the lessor's Landlord’s estate or interest herein. The Lessee's proportionate share Additionally, Tenant shall pay as aforesaid its Proportionate Share of such Impositions any Imposition which is not imposed upon the Premises as a separate entity but which is imposed upon all or part of the Property or upon the leases or rents relating to the Property.
(i) Nothing herein contained shall be determined by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due. The Lessee shall pay each such Imposition at the Lessor's election to the Lessor directly or to the government or other public authority charged with the collection of such Impositions; and in the latter event, the Lessee shall furnish to the Lessor, not later than thirty (30) days following such payment, a receipt or other evidence satisfactory to the Lessor of the payment of such Impositions.
2. Nothing contained in this Lease shall be deemed to require the Lessee interpreted as requiring Tenant to pay any income, sales, gross receipts, business privilege, transfer or excess profits or corporate capital stock tax imposed or assessed upon the Lessor by reason Landlord, unless such tax or any similar tax is levied or assessed in lieu of its collection all or any part of rents under the Lease. Lessee shall be responsible for any mercantile taxes relating to its business.
3. Notwithstanding the foregoing provisions of this Article, in the event that any mortgages of the Lessor requires monthly installment payments of the Impositions or in the event that any mortgagee of the lessor requires monthly installment payments of the Impositions or in the event that the lessee fails to pay the Impositions when due, the Lessor shall have the right, at its election, but not the duty, to require the Lessee to pay to the Lessor or to any mortgagee of the lessor, at the time when the installment of basic monthly Rent is payable hereunder, an amount equal to one-twelfth (1/12th) of the annual Impositions as estimated by the lessor. In the event an actual billing is transmitted to the lessee, the Lessee shall also pay as Additional Rent the amount by which the Impositions becoming due exceed the monthly payments of account thereof previously made by the Lessee. The Lessor shall have no liability to the lessee on account of any estimate made by the lessor with respect to any Imposition or by reason an increase in any Imposition.
(ii) If it shall not be lawful for Tenant to reimburse Landlord for any of the fact that any such estimate exceeded or was less than Impositions, the Minimum Annual Rent shall be increased by the amount of such Imposition. Any payments by Lessee which turn out to be in excess of the Impositions actually owed shall be returned promptly by Lessor to Lessee. The amounts paid by the lessee pursuant to this Section shall be used to pay the Impositions but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon by the Lessor.
4. The Lessor shall have the right, but not the duty, to contest the validity or amount of any imposition or to recover payments made on account thereof. The lessee shall cooperate fully with the lessor with respect to such proceedings to the extent reasonably necessary and shall pay to the lessor all reasonable costs and expenses, including without limitation attorneys fees, incurred in connection with such proceedings as Additional Rent promptly upon being billed therefore. In the event that the Lessor shall elect not to contest the validity or amount of any real estate tax (or assessment pertaining thereto) which is referred to in this Article and which is, included within the definition of "Impositions" referred to therein, then the lessee shall have the right, but not the duty, to contest the same at its own cost and expense and in such case, any amounts to be recovered, net reasonable attorneys fees, shall be distributed on an equitable basis between the Lessor and the Lessee.
1. The Lessee shall pay for the cost and expense of all utilities and other services rendered furnished to the Leased Premises during the term, including without limitation heat, water service, sewer service, gas, electricity, telephone service and trash disposal service together with all taxes levied or assessed thereon and other charges on such utilities or services. In no event shall the lessor be liable for the quality, quantity, failure or interruption portion of such utilities or services Imposition allocable to Leased Premises. The following utilities shall be separately metered for the leased Premises: heatTenant, water service, sewer service, gas, electricity, and telephone service. Notwithstanding the foregoing, in the event that such utilities or services are not separately metered for the Lessee, then the Lessee shall pay from time to time as Additional Rent within thirty (30) days after billing unless prohibited by the Lessor the Lessee's proportionate share of the cost and expense of such utilities and other services, by dividing the total area of the leased premise by the total area of the building and applying the percentage thus calculated to the total amount of the Impositions due.
1. The Lessee shall maintain and keep in effect throughout the Term hereof with policies from an insurer and in form and substance reasonably satisfactory to the lessor and its lender.
a. Insurance against loss or damage to the Leased Premises and all other improvements now or hereafter located thereon by fire and such other casualties as may be included in the broadest form of all-risk insurance from time to time available, in an amount equal to at least the full insurable replacement value of the leased Premises and all improvements thereon, the policy to have attached thereto replacement cost.
2. Lessee will keep in force with companies licensed to do business in the state where the Leased Premises is located at Lessee's expense at all times during the term of this Lease and during such other times as Lessee occupies the leased Premises for any part there:
(a) Public liability insurance with respect to Leased Premises, if any, and the business operated by Lessee and any subtenants, licensees and concessionaires of Lessee in or from the leased Premises with minimum limits of Five Hundred Thousand Dollars ($500,000.00) on account of bodily injuries to or death of one person, and One Million Dollars ($1,000,000.00) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance with minimum limits of One Hundred thousand Dollars ($100,000.00). If the nature of Lessee's operation is such as to place any or all of its employees under the coverage of local workmen's compensation or similar statues, Lessee shall also keep in force, at its own expense, workmen's compensation or similar insurance affording statutory coverage and containing statutory limitslaw.
(biii) Upon requestIf Landlord receives any rebate, Lessee will deposit refund or similar payment relating to any Impositions paid by ur charged back to Tenant, Landlord shall promptly pay to Tenant Tenant’s Proportionate Share of such rebate or refund, net of any expenses incurred by Landlord in obtaining the same. Tenant may request that Landlord initiate an action to contest or challenge an Imposition, and Landlord agrees to consult with Lessor Tenant regarding such contest or challenge and to take such action as Landlord deems reasonable and appropriate wider the policies circumstances as a result of insurance required by the provisions of this Section, of certificates thereof, together with satisfactory evidence of the payment of the required premium, or premiums thereof.
(c) All policies of insurance required to be carried by Lessee pursuant to this Lease shall provide that the policy such consultation. Tenant shall not be subject initiate any action to cancellation, termination or change except after ten (10) days contest any Impositions without Landlord’s prior written notice to Lessor and shall name Lessor as an additional insured as its interest may appear. In addition, such policies of insurance shall contain a provision substantially as follows: "It is understood and agreed that the insurance afforded by this policy or policies for more than one named insured shall not operate to increase the limits of the companies' liability, but otherwise shall not operate to limit or void the coverage of any one named insured as respects claims against the same named insured by any other named insured or the employees of such other names insuredconsent."
(a) Lessee will not do, omit to do, or suffer to be done or keep or suffer to be kept anything in, upon or about the Leased Premises which will violate the provisions of Lessor's policies insuring against loss or damage by fire or other hazards (including, but not limited to, public liability), which will adversely affect Lessor's fire or liability insurance premium rating or which will prevent Lessor from procuring such policies with companies acceptable to Lessor, provided Lessee is first given adequate notice of the requirements of such policies. If anything done, omitted to be done or suffered to be done by Lessee, or kept or suffered by Lessee to be kept in, upon or about the leased Premises shall by itself or in combination with other circumstances existing at the Building of which the Leased Premises are a part, cause the premium rate of fire or other insurance on the Leased Premises or other property of the Building of which the Leased Premises are a part, in companies acceptable to lessor to be increased beyond the established rate from time to time fixed by the appropriate underwriters with regard to the use of the leased Premises for the purposes permitted under this Lease or to such other property in the Building of which the Leased Premises are a part, for the use or uses made thereof; Lessee will pay the amount of such increase or, in the event that the other circumstances existing at the Building of which the Leased Premises are a part, shall have contributed to such increase, such equitable portion of such increase as reasonably determined by Lessor, as Additional rent upon Lessor's demand and will thereafter pay the amount of such increase, as the same may vary from time to time, with respect to every premium relating to coverage of the Leased Premises during a period falling within the Term of this Lease until such increase is eliminated. In addition, if applicable, Lessor may at its option rectify the condition existing on the Leased Premises which caused or was a contributing cause of the increased premium rate in the event that the Lessee should fail to do so and may charge the cost of such action to Lessee as Additional Rent, payable on demand. In determining whether increased premiums are the result of Lessee's use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the fire insurance rate on the Leased Premises.
(b) If for any reason whatsoever including, but not limited to, the abandonment of the leased Premises, Lessee's failure to pay the insurance premium or Lessee's failure to occupy the leased Premises as herein permitted, Lessee fails to provide and keep in force any or all of the insurance policies set forth in this Lease, then in such event Lessee shall indemnify and hold Lessor harmless against any loss which would have been covered by such insurance.
(c) If Lessee shall not comply with its covenants made in this Section, Lessor in addition to Lessor's other remedies hereunder may (but shall not be obligated to) cause insurance, as aforesaid, to be issued, and in such event Lessee agrees to pay the premium for such insurance as Additional Rent promptly upon Lessor's demand, or Lessor, at its option, may treat such failure to comply as a Deliberate Event of Default.
(a) Throughout the Term of this Lease, Lessee shall pay to Lessor, an amount equal to the premium payment paid, or due within thirty (30) days, for insurance coverage on the Leased Premises obtained by the Lessor, pursuant to Section 1. Such payment shall be made within fifteen (15) days from the date of an invoice provided by Lessor to Lessee.
(b) In the event that the insurance policy covering the Leased Premises obtained by the lessor pursuant to Section I covers all or a portion of the Building in addition to the Leased Premises, then the share of the Lessee of the insurance premium contribution to the Leased Premises shall be completed in accordance with the following formula: Lessee's Share = P x LP ----------------------- B "P" equals the dollar amount of the premium for the period in questions; LP equals the total number of square feet constituting the Leased Premises; B equals the total number of square feet in the Building covered by the policy in question.
5. If the leased premises are damaged or destroyed so they cannot be repaired with reasonable diligence within one hundred eighty (180) days of the date of such damage or destruction, then either lessor or Lessee may terminate this Lease upon thirty (30) days' written notice to the other party; provided, however, that if Lessor has not entered into binding contracts within sixty (60) days of the date of damage for the repair and reconstruction of the Leased Premises within 180 days of the date of destruction, Lessee shall have the option, at its sole discretion, to terminate this Lease upon thirty (30) day's written notice to Lessor. In the event of such, termination on or after the sixtieth day after the date of damage, all rent and other charges payable by Lessee shall be payable only to the date of the damage or destruction and any rent or other charges paid in advance by Lessee shall be refunded by Lessor to Lessee to the extent that the same are for a period after the damage or destruction.
6. If the Leased Premises are damaged or destroyed, but this lease is not terminated, as provided above, then Lessor shall rebuild and restore the leased Premises within such 180-day period and during the period from the date of such damage or destruction until completion of rebuilding and restoration, the charges payable by Lessee shall xxxxx as follows:
(a) If the Leased Premises are used during such period, then all rent and other charges payable hereunder by Lessee shall xxxxx in the proportion that the damaged or destroyed portion bears to the whole and rent and other charges shall be paid on the basis of the number of square feet of floor area in the Leased Premises which are actually used:
(b) If the leased Premises are not used during such period for any purpose by Lessee, then there shall be a complete abatement of all rent and other charges from the date of injury until completion of rebuilding and restoration.
7. If any damage to or condition of the Leased Premises, which by this lease is Lessor's responsibility, shall in Lessee's reasonable judgment be considered of such a nature as to require emergency action, then lessee may undertake, at Lessor's expense, temporary emergency measures and Lessor shall reimburse Lessee on demand for the costs and expenses associated with such measures Lessee shall use its reasonable efforts to notify Lessor by telephone of any such emergency.
8. The Lessor's obligation or election to restore the Leased premises under this Article shall not include the repair, restoration or replacement of the fixtures, improvements, alterations, furniture or any other property, owned, installed, made by or in the possession of the Lessee.
Appears in 1 contract
