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CIVIC CENTER MEDICAL ARTS 1-2003
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CIVIC CENTER MEDICAL ARTS 1-2003
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Last modified
1/3/2012 3:09:59 PM
Creation date
8/8/2003 2:50:46 PM
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Contracts
Company Name
Civic Center Medical Arts Associates
Contract #
A-2003-090
Agency
Community Development
Council Approval Date
5/5/2003
Expiration Date
9/30/2003
Destruction Year
2008
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shall commence such cure within said five (5) day period and thereafter diligently prosecute such cure to completion. <br />Except as provided above, if Tenant shall fail to move into the Premises and to open for business on the Term <br />Commencement Date, or fail continuously to operate in the manner and during the hours established by Landlord pursuant <br />to Section 6.2 hereof or for the purpose specified in Section 6.1 hereof, or if Tenant shall abandon the Premises, or permit <br />this Lease to be taken under any writ of execution or similar writ or order, then Landlord, besides other rights or remedies <br />it may have under this Lease or by law, shall have the right to immediately terminate this Lease and Tenant's right to <br />possession of the premises by giving Tenant written notice that this Lease is terminated. <br /> <br /> (d) Bankruptcy, Tenant's (i) application for, consent to, or suffering of, the appointment of a receiver, trustee or <br />liquidator for all or for a substantial portion of its assets; (ii) making a general assignment for the benefit of creditors; (iii) <br />admitting in writing its inability to pay its debts or its willingness to be adjudged a bankrupt; (iv) becoming unable to or <br />failing to pay its debts as they mature; (v) being adjudged a bankrupt; (vi) filing a voluntary petition or suffering an <br />involuntary petition under any bankruptcy, arrangement, reorganization or insolvency law (unless in the case of an <br />involuntary petition, the same is dismissed within thirty (30) days of such filing); (vii) convening a meeting of its creditors <br />or any class thereof for purposes of effecting a moratorium, extension or composition of its debts; or (viii) suffering or <br />permitting to continue unstayed and in effect for ten (10) consecutive days any attachment, levy, execution or seizure of all <br />or a substantial portion of Tenant's assets or of Tenant's interest in this Lease. <br /> <br /> SECTION 18.2 REMEDIES <br />(a) General. in the event of any default by Tenant, Landlord may: <br /> <br /> (i) Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall <br />terminate and Tenant shall immediately surrender possession of the premises to Landlord. <br /> <br />In such event, Landlord shall be entitled to recover: fiom Tenant: <br /> <br /> (1) The worth at the'time of award of the unpaid rent and additional rent which had been earned at the time <br />of termination; <br /> <br /> (2) The worth at the time of award of the amount by which the unpaid rent and additional rent which would <br />have been earned after termination until the time of award exceeds the amount of such loss that Tenant proves could have <br />been reasonably avoided; <br /> <br /> (3) The worth at the time of award of the amount by which the unpaid rent and additional rent for the balance <br />of the Term after the time of award exceeds the amount of such loss that Tenant proves could be reasonably avoided; and <br /> <br /> (4) Any other amount deemed necessary and/or allowable by applicable statute or decision to compensate <br />Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which, <br />in the ordinary course of events, would be likely to result therefrom, including, but not limited to, the cost of recovering <br />possession of the Premises, expenses of reletting, including necessary repair, renovation and alteration of the Premises, <br />reasonable attorneys' fees, and any other reasonable costs. <br /> <br /> The "worth at the time of award" of the amounts referred to in subparagraphs (1) and (2) above shall be <br />computed by allowing interest at the maximum legal rate permitted by law from the dates such amounts accrued to <br />Landlord. The worth at the time of award of the amount referred to in subparagraph (3) above shall be computed by <br />discounting such amount at one (1) percentage point above the discount rate of the Federal Reserve Bank of San Francisco <br />at the time of award. <br /> <br /> (ii) Without terminating or affecting a forfeiture of this Lease or otherwise relieving Tenant of any obligation <br />hereunder, in the absence of express written notice of Landlord's election to do so, Landlord may, but need not, relet the <br />Premises or any portion thereof at any time or from time to time and for such terms and upon such conditions and rental as <br />Landlord in its sole discretion may deem proper. Whether or not the Premises are relet, Tenant shall pay to Landlord all <br />amounts required by Tenant hereunder up to the date that Landlord terminates Tenant's right to possession of the <br />Premises. Such payments by Tenant shall be due at the times provided in this Lease, and Landlord need not wait until the <br />termination of this Lease to recover them by legal action or in any other manner. If Landlord relets the Premises or any <br />portion thereof, such reletting shall not relieve Tenant of any obligation hereunder, except that Landlord shall apply the <br />rent or other proceeds actually collected by it for such reletting against amounts due from Tenant hereunder to the extent <br />such proceeds compensate Landlord for non-performance of any obligation of Tenant hereunder. Landlord may execute <br />any lease made pursuant hereto in its own name, and the new tenant thereunder shall be under no obligation to see to the <br />application by Landlord of any proceeds to Tenant named in this Lease when the particular remedy has been asserted, nor <br />shall Tenant have any right to collect any such proceeds. Landlord shall not by any re-entry or other act be deemed to <br />have accepted any surrender by Tenant of the Premises or Tenant's interest therein, or be deemed to have terminated this <br />Lease, or to have relieved Tenant of any obligation hereunder, unless Landlord shall have given Tenant express written <br />notice of Landlord's election to do so as set forth herein. <br /> <br /> (iii) Landlord may terminate this Lease by express written notice to Tenant of its election to do so. Such <br />termination shall not relieve Tenant of any obligation hereunder which has accrued prior to the date of such termination. <br />In the event of such termination, Landlord shall be entitled to recover from Tenant the amount determined pursuant to <br />paragraph (i) above. <br /> <br />I II I II II ii i ~ <br /> <br /> <br />
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