IMPROVEMENTS, ETC. 29 Section 6.1 Improvements to the Leased Property..............................................29 Section 6.2 Salvage..........................................................................29 Section 6.3 Equipment Leases.................................................................29 VII. LIENS......................................................................................................30 VIII. PERMITTED CONTESTS........................................................................................30 IX. INSURANCE...................................................................................................31 Section 9.1 General Insurance Requirements...................................................31 Section 9.2 General Insurance Provisions.....................................................33 Section 9.3 Costs and Expenses...............................................................34 Section 9.4 Indemnification of Landlord......................................................34 Section 9.5 Indemnification of Tenant........................................................35
IMPROVEMENTS, ETC. 34 6.1 Improvements to the Leased Property. ....................................................34 6.2 Salvage...................................................................................35 ARTICLE 7: LIENS................................................................................................35 7.1 Liens.....................................................................................35 7.2 Landlord's Lien...........................................................................35
IMPROVEMENTS, ETC. 35 6.1 Improvements to the Leased Property 35 6.2 Salvage 36 ARTICLE 7 LIENS 36 7.1 Liens 36 7.2 Landlord’s Lien 37 ARTICLE 8 PERMITTED CONTESTS 37 ARTICLE 9 INSURANCE AND INDEMNIFICATION 38 9.1 General Insurance Requirements 38 9.2 Waiver of Subrogation 39 9.3 Form Satisfactory, Etc. 39 9.4 No Separate Insurance; Self-Insurance 40 9.5 Indemnification of Landlord 40 ARTICLE 10 CASUALTY 41 10.1 Insurance Proceeds 41 10.2 Damage or Destruction 41 10.3 Damage Near End of Term 43 10.4 Tenant’s Property 44 10.5 Restoration of Tenant’s Property 44 10.6 No Abatement of Rent 44 10.7 Waiver 44 ARTICLE 11 CONDEMNATION 45 11.1 Total Condemnation, Etc. 45 11.2 Partial Condemnation 45 11.3 Abatement of Rent 46 11.4 Temporary Condemnation 46 11.5 Allocation of Award 47 ARTICLE 12 DEFAULTS AND REMEDIES 47 12.1 Events of Default 47 12.2 Remedies 50 12.3 Tenant’s Waiver 51 12.4 Application of Funds 52 12.5 Landlord’s Right to Cure Tenant’s Default 52 ARTICLE 13 HOLDING OVER 52 ARTICLE 14 LANDLORD DEFAULT 53 ARTICLE 15 PURCHASE RIGHTS 53 ARTICLE 16 SUBLETTING AND ASSIGNMENT 54 16.1 Subletting and Assignment 54
IMPROVEMENTS, ETC. 6.1 Improvements to the Leased Property. Prior to commencing construction of any Capital Addition constituting additions or modifications to any structural elements of the Hotel, the cost of which is reasonably estimated to exceed $250,000 (as adjusted as provided below) (other than any Capital Addition which is reasonably required to be made immediately in order to prevent imminent damage or danger to person or property), Tenant shall submit to Landlord, in writing, a proposal setting forth, in reasonable detail, any such proposed improvement and cost estimate therefor and shall provide to Landlord such plans and specifications, and such permits, licenses, contracts and such other information concerning the same as Landlord may reasonably request. Landlord shall have twenty (20) Business Days to review all materials submitted to Landlord in connection with any such proposal. Failure of Landlord to respond to Tenant's proposal within twenty (20) Business Days after receipt of all information and materials requested by Landlord in connection with the proposed improvement shall be deemed to constitute approval of the same. Landlord's approval shall not be withheld as to any such Capital Addition that is required to comply with the Franchise Agreement. In the event that any dispute shall arise with respect to Landlord's withholding of its approval pursuant to this Section 6.1, such dispute shall be resolved in accordance with the applicable provisions of Article 19. No Capital Addition shall be made which would tie in or connect any Leased Improvement with any other improvements on property adjacent to the Leased Property (and not part of the Land) including, without limitation, tie-ins of buildings or other structures or utilities. Tenant shall not finance the cost of any construction of such improvement by the granting of a lien on or security interest in the Leased Property or such improvement, or Tenant's interest therein, without the prior written consent of Landlord, which consent may be withheld by Landlord in Landlord's sole discretion. Any such improvements shall, upon the expiration or sooner termination of this Agreement, remain or pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances. The $250,000 limit referred to above shall be increased from time to time to an amount equal to $250,000 multiplied by a fraction, the denominator of which shall be the Index for the nearest month prior to t...
IMPROVEMENTS, ETC. 28 6.1 Prohibition.....................................................................................................28 6.2
IMPROVEMENTS, ETC. Tenant may make, construct or install (or permit to be made, constructed or installed) any Capital Additions provided that construction or installation of the same will not adversely affect or violate any material Legal Requirement or Insurance Requirement applicable to any Property and shall not adversely affect the market value of the applicable Property. No Capital Addition shall be made which would tie in or connect any Leased Improvements with any other improvements on property adjacent to any Property (and not part of the Land) including, without limitation, tie-ins of buildings or other structures or utilities. Any improvements shall, upon the expiration or sooner termination of this Agreement, remain or pass to and become the property of Landlord, free and clear of all encumbrances other than Permitted Encumbrances.
IMPROVEMENTS, ETC. 31 6.1 Improvements to the Leased Property 31 6.2 Salvage 32 ARTICLE 7 LIENS 32 7.1 Liens 32 7.2 Landlord’s Lien 33 ARTICLE 8 PERMITTED CONTESTS 34
IMPROVEMENTS, ETC. Tenant shall not finance the cost of any construction by the granting of a lien on, or security interest in, the Leased Property, or Tenant’s interest therein, without the prior written consent of Landlord, which consent may be withheld by Landlord in Landlord’s sole discretion. Any such improvements shall, upon the expiration or sooner termination of this Lease, remain or pass to and become the property of Landlord, free and clear of any encumbrance permitted to be created by Landlord.
IMPROVEMENTS, ETC. 35 6.1 Prohibition..........................................................................................35 6.2 Permitted Renovations................................................................................35 6.3 Conditions to Reserve Expenditures, Permitted Renovations and Major Alterations......................36 6.4 Salvage..............................................................................................37
IMPROVEMENTS, ETC. 34 6.1 IMPROVEMENTS TO THE LEASED PROPERTY..................................................... 34 6.2 SALVAGE................................................................................. 35 ARTICLE 7 LIENS......................................................................................... 35 7.1 LIENS................................................................................... 35 - iii - TABLE OF CONTENTS (continued)
