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Item 12 - Lease and License Agreement Amendments with Greyhound Lines, Inc.
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01/18/2022 Regular & Special SA
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Item 12 - Lease and License Agreement Amendments with Greyhound Lines, Inc.
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Agenda Packet
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Clerk of the Council
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12
Date
1/18/2022
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e. The following requirements apply to the insurance to be provided by <br />Tenant pursuant to this section: <br />i. Tenant shall maintain all insurance required above in full force and effect <br />for the entire period covered by this Agreement. <br />ii. Certificates of insurance shall be furnished to the Landlord upon execution <br />of this Agreement. <br />iii. Certificates and policies shall state that the policies shall not be cancelled <br />or reduced in coverage or changed in any other material aspect without <br />thirty (30) days prior written notice to the City, except for 10 days' notice <br />for non-payment of premium. <br />iv. If Tenant fails or refuses to produce or maintain the insurance required by <br />this section or fails or refuses to furnish the Landlord with required proof <br />that insurance has been procured and is in force and paid for, the Landlord <br />shall have the right, at the Landlord's election, to forthwith terminate this <br />Agreement. <br />16. DAMAGE BY CASUALTY: <br />In the event of a fire or other casualty in the Premises, Tenant shall <br />immediately give notice thereof to Landlord. <br />ii. 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 <br />render the Premises untenantable as reasonably determined by Landlord, <br />Rent shall abate in proportion to the percentage of square footage of the <br />Premises rendered unusable until such time as the Premises are made <br />tenantable as reasonably determined by Landlord. <br />iii. Except where Landlord is not obligated to repair or rebuild the Building or <br />the Premises, Landlord will use due diligence to repair the same (except <br />that Landlord will have no obligation to repair or replace any alteration, <br />addition, or improvements to the Premises other than the Tenant <br />Improvements installed at Landlord's expense which will be repaired only <br />to the level of Building Standard Improvements). <br />iv. 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 <br />that it cannot, in Landlord's reasonable opinion, be repaired within ninety <br />(90) days of the occurrence of such damage, or (iii) damage or destruction <br />as a result of any casualty for which insurance proceeds are not available <br />to pay 100% of the cost of repair or rebuilding, Landlord will have no <br />obligation to repair or rebuild the Premises or the Building. Landlord will <br />make its determination whether to repair or rebuild within ninety (90) days <br />of the occurrence of such damage or destruction. Upon notification to <br />5 <br />
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