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CARIBOU INDUSTRIES, INC, 1
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CARIBOU INDUSTRIES, INC, 1
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Last modified
12/1/2015 4:21:34 PM
Creation date
9/25/2003 12:45:42 PM
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Contracts
Company Name
Caribou Industries Inc.
Contract #
A-2003-170
Agency
Public Works
Council Approval Date
8/4/2003
Destruction Year
2009
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7. ASSIGNMENT AND SUBLETTING <br />Tenant shall not, either voluntarily or by operation of law, assign, transfer, mortgage, <br />pledge, or encumber this Rental Agreement or any interest therein, and shall not sublet <br />said Premises or any part thereof, or any right or privilege appurtenant thereto, or allow <br />any other person (the employees, agents, servants, and invitees of Tenant excepted) to <br />occupy or use said Premises, or any portion thereof, without the prior written consent of <br />the Landlord. <br />8. SUBROGATION <br />As long as their respective insurers so permit, Landlord and Tenant hereby mutually <br />waive their respective rights of recovery against each other for any loss insured by fire, <br />extended coverage and other property insurance policies existing for the benefit of the <br />respective parties. Each party shall obtain any special endorsements, if required by their <br />insurer to evidence compliance with the aforementioned waiver. <br />9. ENTRY BY LANDLORD OR REPRESENTATIVE <br />Landlord as well as Landlord's representatives (prospective buyers) of said Premises <br />reserves and shall at any and all times have the right to enter the Premises for the <br />purposes of inspection, conducting reasonable engineering studies, surveys and <br />environmental investigations, or supplying janitorial service and any other service to be <br />provided by Landlord to Tenant hereunder, and to alter, improve, or repair the Premises, <br />providing that the business of the Tenant shall not be interfered with unreasonably. <br />10. RECONSTRUCTION <br />In the event that the Premises are damaged by fire or other perils covered by extended <br />coverage insurance, Landlord agrees to forthwith repair the same; and this Rental <br />Agreement shall remain in full force and effect, except that Tenant shall be entitled to a <br />proportionate reduction in rent, to be based upon the extent to which the making of such <br />repair shall materially interfere with the business carried on by the Tenant in the <br />Premises. <br />In the event that the Premises are damaged as a result of any cause other than the perils <br />covered by fire and extended coverage insurance, then Landlord shall repair the same, <br />provided the extent of the destruction be less than ten percent (10%) of the then full <br />replacement cost of the Premises of which the Premises are a part. hi the event the <br />destruction of the Premises is greater than ten percent (10%) of the full replacement cost, <br />then Landlord shall have the option: (1) to repair or restore such damage, this Rental <br />Agreement continuing in full force and effect, but the rent to be proportionately reduced <br />as hereinabove in this article provided; or (2) give notice to Tenant within thirty days (30) <br />of the damage, at which time this Rental Agreement shall expire and all interests of the <br />Tenant in the Premises shall terminate on the date so specified in such notice and the rent, <br />reduced by a proportionate amount based upon the extent, if any, to which such damage <br />materially interfered with the business carried on by the Tenant in the Premises, shall be <br />paid up to the date of such termination. <br />
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