My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
80A - JOINT WORK CENTER MOU
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2019
>
05/07/2019
>
80A - JOINT WORK CENTER MOU
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/28/2022 11:33:23 AM
Creation date
5/2/2019 6:11:42 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
5/7/2019
Destruction Year
2024
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
722
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
EXHIBIT 1A <br />Schedule "J-3" <br />Delerminina FMRR, <br />For purposes of determining the FMRR, the fallowing procedure shall apply: <br />I IFTenanL duly exercises any Extension option and duly rejeels Landlon.1's determination (in its Market Rent Notice orthe FMRR for lie <br />Extension, then Landlord and Tenant shall endoavar to agree upon the FMRR for the Extension Term on or before the Outside Agreement Date <br />(deftned below). If Landlord and Tenant are Linable to agree upon die FMRR fer the Extension Tenn on or before the Outside Agreement Date, then <br />die FMRR ferthe Extension Tumh shall be determined by arbitration pursuant to Section 2 oflhis Schedule "13 The "Outside Agreement Date" <br />means the date that is tell (10) business days alter the date that Tenant notifies Landlord, in [Is Markel Rent Response Notice that Tenant has rejected <br />Landlord's initial ci etc nnlnation orthe FMRR for die Extension Term. <br />2 If Landlord and Tenant shall Fail to agree upon the FMRR for the Extension Term on or before the applicable Outside Agreement Date, <br />then within ten (I0) business days thereafter, each of Landlord and Tenant shall submit to the other its final determination of the FMRR rot the <br />Extension Term and such third determinations shall be submitted to arbitration (as Tenant's And Landlord's "Submitted FhIRR," respectively) In <br />accordance with the following: <br />2.1 Landlord and Tenant shall each appoiatone erbitrotor who shall by profession be a real estate broker who shall have been active <br />in die leasing orthe Project and the Comparable Buildings over the five (5) year period ending on die dote of such appointment. The detemdnation <br />orthe aubilrators slmall be limited solely to the issue as to whether Landlord's or Tenant's Subrillod FMRR is the closest to ilia aclual FMRR for the <br />Extension Term, as determined by die arbitrators, taking into account the requirements of this Schedule",,)w3", Each such arbitrator shall be <br />appointed within fifteen (15) business days after tine Outside Agreement Date, <br />2.2 The two arbitrators so appointed shall, within tell (10) business days of the date of the appointment of the second appointed <br />arbitrator, agree upon and appoint a third arbitrator who shall be qualified under the sume standard as described in .Section 2.1 orthis Schedule "J,3" <br />(with respect to appointment of die initial two arbitrators). <br />2.3 The three arbitrators shall, within dirty (30) days of the appointment of the third arbitrator, reach a decision as to whether the <br />panics shall use Landlord's or Tenant's Submitted PMRR and shall notify Landlord and Tenant thereof provided that: (n) if either Landlord or <br />Tenant falls to appoint an arbitrator within Ettcen (15) business day period described In Section 2.1. of this Schedule 1-3". then the arbitrator <br />appointed by the other party shall solely reach a decision as to die FMRR for the Extension Tenn and notify Landlord and Tenant thereof within <br />thirty (30) days following explraCon of such fifteen (13) business day period, and such arbitrator's decision shall be binding upon Landlord and <br />'tenant, and (b) if the two arbitrators fail to agree upon and appoint a third arbitrator, or both parties rail to appoint an arbitrator, then the appoianneat <br />of the third arbitrator or any arbitrator shall be dismissed and the matter to be decided shall be promptly submitted to orb!]ralion under the provisions <br />orthe American Arbitration Association (die "AAA'), butsubjacl to dine Instructions set forth in ]his Schedule "J-3". <br />2A The decision oftlme nmalorityofthe lhreearbilmtore(or inthe case oFadocisicn made under clause (a)or•(b)of et' 3of this <br />Schedule 1-3", the deolsion of the single subitmlor er the arbitrators) appointed by the AAA) shall be binding upon Landlord slid Tenant, shall be in <br />wridngand shall be nomappealable, and counterpart copies thercofshall be dcfivered to Landlord and Tenant. Ajudgment or order based upon such <br />awm-d troy be entered In any court of competent jurisdictimm, in rendering their decision and award, the arbitrators shall have no power to vary, <br />modify ar rmund any pruvislrnt oFdhis Lease. <br />2.5 Landlord and Tenant shall each bear 50%of the cost orthe arbttraton described In this Section 2 oflhis Schedule'?-3 <br />Rill WCDfr Cooler Dr—Cla, nfSnuta lira Learn .5. Exhibit) <br />RA <br />• ' <br />
The URL can be used to link to this page
Your browser does not support the video tag.