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ALDRIDGE ELECTRIC, INC. (3)
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ALDRIDGE ELECTRIC, INC. (3)
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Last modified
3/28/2024 1:58:38 PM
Creation date
3/28/2024 12:56:33 PM
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Contracts
Company Name
ALDRIDGE ELECTRIC, INC.
Contract #
A-2024-028
Agency
Public Works
Council Approval Date
2/20/2024
Expiration Date
2/19/2025
Insurance Exp Date
3/31/2024
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reasonable opinion, be repaired within sixty (60) days of the occurrence of such damage, or (iii) <br />damage or destruction as a result of any casualty for which insurance proceeds are not available to <br />pay 100% of the cost of repair or rebuilding, Landlord will have no obligation to repair or rebuild <br />the Premises or the Building. Landlord will make its determination whether to repair or rebuild <br />within sixty (60) days of the occurrence of such damage or destruction. Upon notification to <br />Tenant of Landlord's decision not to repair or rebuild, this Lease shall terminate. In such an event, <br />Tenant shall be reimbursed by Landlord any rent monies transferred from Tenant to Landlord <br />during this sixty (60) day period within fourteen (14) days after the termination of the lease. <br />19. EMINENT DOMAIN: <br />a. If (i) all or part of the Premises, the building located thereon, or (ii) so much of any <br />rights in the Premises or the building located thereon shall be taken or appropriated <br />under any right of eminent domain or under any other legal right whereby the taking <br />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, <br />then Tenant may terminate and cancel this Lease without owing any liability to <br />Landlord as of the date on which the condemning authority takes physical <br />possession upon giving to Landlord written notice of such election. Landlord agrees <br />immediately within ten (10) days after any notice of intended or actual taking or <br />appropriation to give Tenant written notice thereof, providing to Tenant full details <br />of such taking or appropriation, including, without limitation copies of all <br />condemnation plans or surveys submitted by the condemning authority, a statement <br />of the nature of the project to be conducted by the condemning authority, and such <br />other information as might be necessary to enable Tenant to determine its future <br />course of conduct. TENANT ACKNOWLEDGES THAT LANDLORD'S <br />EXERCISE OF ITS RIGHT TO TERMINATE THIS LEASE UNDER ANY <br />THIS PARAGRAPH SHALL NOT ENTITLE TENANT TO ANY RIGHTS <br />OR CLAIMS FOR RELOCATION BENEFITS OR ANY OTHER CLAIMS <br />RELATED TO CONDEMNATION OR INVERSE CONDEMNATION. <br />b. If this Lease shall be terminated and canceled as a result of any taking or <br />appropriation, Tenant shall be released from any further liability and Rent and other <br />sums for the last month of Tenant's occupancy shall be prorated and Landlord shall <br />immediately refund to Tenant any sums paid in advance. <br />C. Tenant reserves unto itself the right to prosecute Tenant's claim for an award for <br />damages for the termination of this Lease caused by such appropriation or taking, <br />together with damages based on the value of Tenant's improvements and Tenant's <br />fixtures and other personal property erected or installed on the Premises and <br />damages Tenant may sustain to the interest in the business operated by Tenant on <br />the Premises, including, but not limited to, goodwill, patronage, and the removal, <br />relocation, and replacement costs and expenses caused by such appropriation or <br />taking, and Tenant may file such claims as are permitted by law for the loss of its <br />Page 7 of 12 <br />
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