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ALDRIDGE ELECTRIC, INC.
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Last modified
11/13/2019 5:31:13 PM
Creation date
11/13/2019 5:24:25 PM
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Contracts
Company Name
ALDRIDGE ELECTRIC, INC.
Contract #
A-2019-160
Agency
PUBLIC WORKS
Council Approval Date
9/17/2019
Expiration Date
2/19/2021
Insurance Exp Date
3/31/2019
Destruction Year
2026
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Docu$ign Envelope ID;-8D50DC2A-E339-4E8C-A386-000A7CF55027 <br />shall have the right, at the Landlord's election, to forthwith terminate this <br />Agreement as provided herein. <br />18, DAMAGE BY CASUALTY <br />(a) In the event of a fire or other casualty in Premises, Tenant shall <br />immediately give notice thereof to Landlord, <br />(b) If the Premises, through no fault of Tenant, its agents, employees, invitees, <br />or visitors, shall be partially destroyed by fire or other casualty so as to render the <br />Premises untenantable as reasonably determined by Landlord, Rent shall abate in <br />proportion to the percentage of square footage of the Premises rendered unusable until <br />such time as the Premises are made tenantable as reasonably determined by Landlord. The <br />entire Premises shall be made tenantable by Landlord's diligent repair within sixty (60) <br />days following the fire or casualty incident. <br />(c) Except whore Landlord is not obligated to repair or rebuild the Building or <br />the Premises, Landlord will use due diligence to repair or rebuild the same (except that <br />Landlord will have no obligation to repair or replace any alteration, addition, or <br />improvements to the Premises other than the Tenant improvements installed at Landlord's <br />expense which will be repaired only to the level of Building Standard Improvements). <br />(d) In the event of (i) the total destruction of the Premises, (ii) the partial <br />destruction of the Premises or the Building where the same is so damaged that it cannot, in <br />Landlord's reasonable opinion, be repaired within sixty (60) days of the occurrence of <br />such damage, or (iii) damage or destruction as a result of any casualty for which insurance <br />proceeds are not available to pay 100% of the cost of repair or rebuilding, Landlord will <br />have no obligation to repair or rebuild the Premises or the Building. Landlord will make <br />its determination whether to repair or rebuild within sixty (60) days of the occurrence of <br />such damage or destruction. Upon notification to Tenant of Landlord's decision not to <br />repair or rebuild, this Lease shall terminate. In such an event, Tenant shall be reimbursed <br />by Landlord any rent monies transferred from Tenant to Landlord during this sixty (60) <br />day period within fourteen (14) days after the termination of the lease. <br />19. EMINENT DOMAIN; (a) if O all or part of the Premises, the building located <br />thereon, or (ii) so much of any rights in the Premises or the building located thereon shall be <br />taken or appropriated under any right of eminent domain or under any other legal right whereby <br />the taking authority is obligated to compensate Landlord therefor so that there does not remain. <br />premises suitable in the sole opinion of Tenant for the operation of its business, then Tenant may <br />terminate and cancel this Lease without owing any liability to Landlord as of the date on which <br />the condemning authority takes physical possession upon giving to Landlord written notice of <br />such election Landlord agrees immediately within ton (10) days after ally notice of intended or <br />actual taking or appropriation to give Tenant written notice thereof, providing to Tenant full <br />
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