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BOWERS MUSEUM - 2005 GROUND LEASE
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BOWERS MUSEUM - 2005 GROUND LEASE
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Last modified
9/11/2024 4:23:45 PM
Creation date
12/30/2005 4:59:12 PM
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Contracts
Company Name
Bowers, Charles W. Museum Corporation
Contract #
A-2005-258
Council Approval Date
9/6/2005
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<br />without further demand or notice, to reenter and take possession of the Leased <br />Premises, reserving Lessor's right to seek damages. <br /> <br />9.2.2 Terminate Lessee's right to possession of the Leased Premises and enjoyment of <br />the rents, issues and profits therefrom, without terminating this Lease or the <br />leasehold estate created hereby, reenter and take possession of the Leased <br />Premises and remove all persons and property therefrom, with or without process <br />of law, without being deemed guilty of any manner of trespass and without <br />prejudice to any remedies for any breaches of covenants (including the payment <br />of rent), then existing or thereafter occurring, and lease, manage and operate the <br />Leased Premises and collect the rents, issues and profits therefrom, all for the <br />account of Lessor for application against and credit to the satisfaction of Lessee's <br />obligations hereunder the net rental thus received (after deducting therefrom all <br />reasonable costs and expenses of repossessing, leasing, managing and operating <br />the Leased Premises, including completion of construction, reasonable alterations <br />and leasing commissions). If the net rental so received by Lessor exceeds the <br />amounts necessary to satisfY all of Lessee's obligations under this Lease and all <br />costs of Lessor incurred in connection therewith, Lessee shall be entitled to such <br />excess. Lessor shall use reasonable good faith efforts and due diligence to <br />mitigate, limit and reduce the injury, loss or damages accruing from any such <br />default of Lessee. <br /> <br />9.2.3 Maintain Lessee's right to possession, in which case this Lease shall continue in <br />effect whether or not Lessee shall have abandoned the Leased Premises; or <br /> <br />9.2.4 Pursue any other remedy now or hereafter available to Lessor under the laws or <br />judicial decisions of the State of California or otherwise provided in this Lease. <br /> <br />9.2.5 No termination or repossession provided for herein shall relieve Lessee of its <br />liabilities and obligations under this Lease, all of which shall survive termination <br />or repossession. At any time after any such termination or repossession, whether <br />or not Lessor has collected any current damages, Lessor shall be entitled to <br />recover from Lessee, and Lessee shall pay to Lessor, on demand, as liquidated <br />final damages, a sum equal to (i) the worth at the time of award of the unpaid <br />Rental which had been earned at the time of termination; (ii) the worth at the time <br />of award of the amount by which the unpaid Rental which would have been <br />earned after termination until the time of award exceeds the amount of such <br />Rental loss that Lessee proves could have been reasonably avoided; (iii) the worth <br />at the time of award of the amount by which the unpaid Rental for the balance of <br />the Term after the time of award exceeds the amount of such Rental loss that <br />Lessee proves could be reasonably avoided; (iv) any other amount necessary to <br />compensate Lessor for all the detriment proximately caused by Lessee's failure to <br />perform its obligations under this Lease or which in the ordinary course of things <br />would be likely to result therefrom; and (v) interest at the rate of ten percent <br />(10%) per annum on the amounts described in clauses (i) - (iv) from the date of <br />such demand until paid. The "worth at the time of award" of the amounts referred <br />to in this subparagraph shall be computed by present value discounting using (A) <br /> <br />13 <br />
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