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Therefore, in consideration of the promises, covenants and agreements hereinafter set forth, and
<br />subject to the terms, conditions and provisions of this ASA, the Parties agree as follows:
<br />Consideration
<br />a. City agrees to pay Tenant, in accordance with the disbursement schedule
<br />referenced in section 1(c)(d)(e)&(f), below, the total sum of ONE HUNDRED
<br />FIVE THOUSAND, FOUR HUNDRED SEVEN AND NO/100 DOLLARS
<br />($105,407.00) as compensation for relocation assistance and/or other
<br />relocation benefits to which Tenant may be entitled, and any and all loss of
<br />business goodwill, leasehold interests, personal property, improvements pertaining
<br />to realty, bonus value, severance damages, and any and all other damages to
<br />which Tenants may be entitled as a result of City's acquisition of the Acquired
<br />Property for the Project.
<br />b. Tenant hereby agrees to assign certain payments under this ASA to Landlord to be
<br />used exclusively for construction and installation of certain tenant improvements
<br />and trade fixtures within Tenant's individual unit within Replacement Structure.
<br />The total amount of this assignment is SIXTY FOUR THOUSAND, TWO
<br />HUNDRED FIFTY DOLLARS AND NO/100 ($64,250.00). In exchange for
<br />such assignment, Landlord will be obligated to provide the following improvements
<br />within Tenant's Replacement Structure space: HVAC, lights, T Bar ceiling,
<br />insulation at ceiling, standard number of electrical outlets, flooring, one bathroom
<br />that meets Americans with Disabilities Act standards, phone jacks in number
<br />sufficient to operate Tenant's current equipment, finish painted interior walls,
<br />carpet and base, interior framing and drywall, interior doors, and soft costs such as
<br />contingency, builder overhead and profit, zoning and associated permit fees and
<br />architectural and engineering fees.
<br />Tenant is responsible for payment for the move of the personal property,
<br />disconnection, move and reconnection of all fixtures and equipment, reinstallation
<br />of racks and displays, installation of telephone system, associated permit fees, and
<br />any electrical requirements in addition to standard electrical service.
<br />c. Upon execution of this ASA and an executed lease between Tenant and Landlord
<br />for Replacement Structure, City will process an initial payment to Tenant in the
<br />amount of TEN THOUSAND, TWO HUNDRED EIGHTY NINE
<br />DOLLARS AND 25/100 ($10,289.25) and to Landlord in the amount of
<br />SIXTEEN THOUSAND, SIXTY TWO DOLLARS AND 50/100
<br />($16,062.50).
<br />d. Upon notification and verification that architectural plans for the Replacement
<br />Structure have been approved by the City Building Department, City will process
<br />a second payment to Tenant in the amount of TEN THOUSAND, TWO
<br />HUNDRED EIGHTY NINE DOLLARS AND 25/100 ($10,289.25) and to
<br />Landlord in the amount of SIXTEEN THOUSAND, SIXTY TWO DOLLARS
<br />AND 50/100 ($16,062.50).
<br />Acquisition Settlement Agreement
<br />Page 2 of 8
<br />25Q-29
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