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TESLA, INC
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Last modified
3/25/2020 12:46:07 PM
Creation date
2/27/2020 8:59:21 AM
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Contracts
Company Name
TESLA, INC
Contract #
A-2020-030
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
2/18/2020
Insurance Exp Date
1/1/1990
Destruction Year
2030
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17. REMEDIES: City and Testa acknowledge and agree that each Party shall have all remedies <br />available at law or in equity if an Event of Default by the other Party has occurred and is <br />continuing. In addition, if an Event of Default by Testa has occurred and is continuing, then City, <br />may: (a) continue this Agreement in effect by not terminating Testa's right to possession of said <br />Premises and thereby be entitled to enforce all City's rights and remedies under this Agreement; <br />or (b) terminate the Agreement and regain possession of said Premises. <br />18. EXCLUSIONS: Notwithstanding anything herein to the contrary, each Party expressly releases the <br />other from any claims for, speculative, indirect, consequential or punitive damages, including any <br />lost sales or profits of the other Party. <br />19. ASSIGNMENT: Testa shall not assign this Agreement voluntarily or by operation of law, or any <br />right hereunder, nor sublet the Premises or any part thereof, without the prior written consent <br />of City, which shall not be unreasonably withheld, conditioned or delayed; provided that the <br />foregoing prohibition shall not limit Testa's ability to transfer this Agreement to a Testa Affiliate. <br />"Affiliate" means an entity which: (a) controls or is controlled by a Party hereto or (b) is under <br />common control with a Party hereto: where "control" means that more than fifty percent (>50%) <br />of the controlled entity's shares or ownership interest representing the right to make decisions <br />for such entity are owned or controlled, directly or indirectly, by the controlling entity. <br />20. INDEMNIFICATION: <br />A. Cam: Except to the extent a claim arises from any negligence or willful misconduct of a City <br />Indemnified Party, Testa hereby agrees to indemnify, hold harmless and defend City, its <br />Affiliates and their respective directors, officers, managers, members, employees, agents <br />and representatives (each a "City Indemnified Party") from all losses and liabilities, <br />including court costs and reasonable attorneys' fees, on account of or arising out of or <br />alleged to have arisen out of any third party claim directly related to: (i) Testa's use of the <br />Premises; (it) Testa's breach of this Agreement; or (iii) bodily injury or damage to real or <br />tangible personal property caused by the use of the Trade Fixtures. <br />B. Testa: Except to the extent a claim arises from any negligence or willful misconduct of a <br />Testa Indemnified Party, City hereby agrees to indemnify, hold harmless and defend Testa, <br />its Affiliates and their respective directors, officers, managers, members, employees, agents <br />and representatives (each a "Testa Indemnified Party") from all losses and liabilities, <br />including court costs and reasonable attorneys' fees, on account of or arising out of or <br />alleged to have arisen out of any third party claim directly related to: (I) City's entry onto <br />the Premises; or (it) City's breach of this Agreement. <br />21. LIENS: Testa shall promptly remove or bond any liens placed on the Property as a result of any <br />claims for labor or materials furnished to Testa at the Premises. <br />22. DESTRUCTION: Any total destruction of the Premises shall, at City's or Testa's written election <br />within thirty (30) days of such destruction, terminate this Agreement. <br />23. INSURANCE: Testa shall carry commercial general liability insurance with limits of not less than <br />Two Million Five Hundred Thousand dollars ($2,500,000) for bodily injury or death and property <br />damage and an umbrella insurance policy of not less than Five Million dollars ($5,000,000). The <br />Page 5 <br />v.20190227 <br />
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