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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 />however, if upon the expiration or earlier termination of this Lease an event of default <br />under this Lease then exists on the part of Lessee, (i) Lessee shall have the right to <br />remove only those items of Lessee's Equipment that are capable of being removed <br />without causing damage to, or otherwise requiring repair of, the buildings, and (ii) all <br />other items of Lessee's Equipment shall, subject to the rights of third party lessors, <br />lenders or other persons holding a security interest therein, without compensation to <br />Lessee, be and become the property of Lessor (without the necessity of a deed, bill of <br />sale, conveyance or other act or agreement of Lessee) and remain with the Leased <br />Premises as part of the real property. Notwithstanding anything to the contrary contained <br />herein, Lessee shall have no right to remove, at the expiration or earlier termination of <br />this Lease, any item that would constitute a "fixture," and thus be a part of the real <br />property under California law, unless (i) such fixture is of a nature that it may be <br />removed without damaging or otherwise requiring repairs to any building, or (ii) a default <br />does not then exist under the terms of this Lease on the part of Lessee and Lessee repairs <br />the damage to any building caused by the removal of such fixture. Under no <br />circumstances, however, shall Lessee have the right to remove any fixture that would <br />adversely affect the ability of a building on the Leased Premises to be used for its normal <br />and intended purpose. <br /> <br />2.2 Lien Free Completion. Any alterations or construction of improvements shall be made <br />in a lien tree and good and workmanlike manner, in accordance with Plans and <br />Specifications approved pursuant to the terms of this Lease, and in compliance with all <br />applicable laws, ordinances, permits and authorizations, and in accordance with such <br />reasonable requirements and conditions as Lessor may impose. <br /> <br />2.3 Cooperation. Each party hereby covenants and agrees to cooperate and assist the other <br />party from and after the date of this Lease and throughout the term of this Lease in <br />obtaining all approvals and permits that are necessary or desirable in order to develop and <br />construct the Additional Facilities and any other permitted alterations or improvements, <br />including, without limitation, joining in applications, filings and submittals for use, <br />building, grading, and construction permits, and participation in and support of the other <br />party's position in hearings, proceedings and meetings relating to any such permits or <br />other governmental applications, submittals or approvals; provided, however, that the <br />party that is not performing such construction shall not be obligated to incur any expenses <br />or liabilities in cooperating with the other party's permitted construction activities. <br /> <br />ARTICLE 3 <br /> <br />RENTAL <br /> <br />3.1 Amount and Commencement of Rent Payments. In consideration for Lessee .bearing <br />all costs and expenses associated with construction of the Additional Facilities and <br />conveying such Additional Facilities to Lessor in accordance with this Lease, Lessee <br />shall pay to Lessor, without offset, demand, or abatement monthly rental ("Rental") in the <br /> <br />5 <br />
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