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25G - OFFICE SPACE AT DEPOT
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25G - OFFICE SPACE AT DEPOT
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1/3/2012 4:51:23 PM
Creation date
9/28/2005 8:41:52 AM
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City Clerk
Doc Type
Agenda Packet
Item #
25G
Date
10/3/2005
Destruction Year
2010
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<br />Early <}ccupancy <br /> <br />Time limit and <br />Prior Tenancy <br /> <br />" . <br /> <br />{'. <br /> <br />In no event shall the exercise of this right of entry be construed so as to cause an acceleration of the occupancy <br />date of this lease or the obligation of the State to pay rent. <br /> <br />Lessor and State shall each make all reasonable efforts to ensure that the respective construction and installation work <br />is scheduled in such a manner so as to not interfere with or delay the other. <br /> <br />In the event that one or the other party causes a delay in the other party's work, such injured party shall be <br /> <br />compensated in the followingmarinel": <br /> <br />Delavs cau~~d bvthe~essor:/ .,..., .. " ii" '<i "., ", "','.. <br />Credit !p-e Sta.!e acomp~nsa.ting4liY of delay in the occupancy date li"d correspoIldiIlg day of delay in payment of rent. <br /> <br />Dela.yscaused by the~t~t~:/ ..' ," ,i>i '..'" ,Z" <br />Cr~dit the ~~ssor a c?mpensatin~dayofpayment of;ent from the actua.l qat~,of OCCUpanCy. <br /> <br />Compellsation will be in one day increments. <br /> <br />Tliepafties agree that this shall be the sole remedy for delay~ in th~!Q1et~9.ulatiOIi 6fdamagdinany,other manner is <br />too uncertain and not susceptible of accurate determination. <br /> <br />, . .' . '.,'.' . . '. .." <br /> <br />8. Lessor agrees that if the leased premises are ready for occupancy prior to tlie completion date specified above <br />in Paragraph 6, State may elect to occupy the premises on the earliest date practical after its receipt of the herein <br />required completion notice. The rent payable for any such early occupancy by the State shall be at the rate of <br />SIX THOUSAND EIGHT HUNDRED SIXTY-EIGHT AND NOlI 00 ($6.868.00) per month, and shall be prorated on <br />a daily basis for any partial month. <br /> <br />9. No rental shall accrue under this lease,. nor ~hall the State have any obligation to perform the covenants or <br />observe the conditions herein contained until the leased premises have been made ready for occupancy in accordance <br />with the provisions hereof. It is specifically agreed that in the event the leased premises are not completed and ready <br />for occupancy by the State on or before AUgust L 2005, then and in that event the State may, at its option and in <br />addition to any other remedies it may have, terminate this lease and be relieved of any further obligations hereunder, <br />providing that a fair and reasonable allowance for the following delays shalf be added to said time for completion: <br /> <br />A. Acts of the State, its agents or employees, or those claiming under agreement with or grant from the State; <br />. orby , <br />B. The acts of God which Lessor could not reasonably have foreseen or guarded against; or by <br />C. Any strikes, boycotts, or like obstructive actions by employees or .!abororganizations and which are <br />beyond control of Lessor, and which cannot be reasonably overcome; or by <br />Restrictive regulations by the Federal Government which are enforced in connection with a National <br />Emergency. ' <br /> <br />In the event that the Sta.t~electsto?~~up?, prel11ise~befoiethe\\l9~k on the premises specified in Exhibit A and B is <br />fully completed, the State will providethe Lessor ""ith li punch list of work remaining to be completed (referenced as <br />the State's "Punch List"). Lessor agrees that Lessor shall complete the remaining work no later than 14 calendar days <br />from the date of receipt of said Punch List. If said Punch List is not completed within the specified 14-day period, <br />Lessor agrees that, beginning on the first day after said 14-day period following occupancy of premises by the State, <br />rent may at the State's sole option be reduced to FOUR THOUSAND EIGHT HUNDRED SEVEN AND NOIIOO <br />($4,807.00) which is Seventy Percent nO%} of the base rent specified in paragraph 4 herein (excluding any <br />amortization payments) until such time that the Punch List work is completed in full and that such completion of work <br />is inspected and accepted by the State. The portion of the rent specified for amortization of tenant improvements, if <br />any shall continue to be paid in full without interruption. <br /> <br />~ <br /> <br />25G-6 <br /> <br />Page-4 <br />
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