|
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 />1. 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 />THREE THOUSAND, TWO HUNDRED FORTY TWO AND NO/100
<br />DOLLARS ($103,242.00) as compensation for relocation assistance and/or
<br />other relocation benefits to which Tenant may be entitled, and any and all loss
<br />of business goodwill, leasehold interests, personal property, improvements
<br />pertaining to realty, bonus value, severance damages, and any and all other
<br />damages to which Tenants may be entitled as a result of City's acquisition of the
<br />Acquired 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 SEVENTY NINE THOUSAND, SEVEN
<br />HUNDRED TWENTY FIVE DOLLARS AND NO/100 ($79,725.00). In
<br />exchange for such assignment, Landlord will be obligated to provide the following
<br />improvements within Tenant's Replacement Structure space: HVAC, lights, T Bar
<br />ceiling, insulation at ceiling, standard number of electrical outlets, ceramic flooring
<br />tiling and the base, one bathroom that meets Americans with Disabilities Act
<br />standards, phone jacks in number sufficient to operate Tenant's current equipment,
<br />finish painted interior walls, concrete cutting and patching, plumbing, interior
<br />framing and drywall, interior doors, and soft costs such as contingency, builder
<br />overhead and profit, zoning and associated permit fees and architectural and
<br />engineering fees.
<br />Tenant is responsible for payment for the move of the personal property,
<br />disconnection, move, reconnection and reinstallation of all fixtures and equipment,
<br />installation of telephone system, any electrical requirements in addition to standard
<br />electrical service, and any associated permit fees
<br />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 FIVE THOUSAND, EIGHT HUNDRED SEVENTY NINE
<br />DOLLARS AND 25/100 ($5,879.25) and to Landlord in the amount of
<br />NINETEEN THOUSAND NINE HUNDRED THIRTY ONE DOLLARS
<br />AND 25/100 ($19,931.25).
<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 FIVE THOUSAND, EIGHT
<br />HUNDRED SEVENTY NINE DOLLARS AND 25/100 ($5,879.25) and to
<br />Landlord in the amount of NINETEEN THOUSAND NINE HUNDRED
<br />Acquisition Settlement Agreement
<br />Page 2 of 8
<br />25Q-37
<br />
|