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FULLERTON AUXILIARY SERVICES CORPORATION, CALIFORNIA STATE UNIVERSITY AND TRUTH AND ALCHEMY, INC. - 2013
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FULLERTON AUXILIARY SERVICES CORPORATION, CALIFORNIA STATE UNIVERSITY AND TRUTH AND ALCHEMY, INC. - 2013
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Last modified
6/3/2014 9:12:20 AM
Creation date
2/10/2014 11:08:37 AM
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Contracts
Company Name
TRUTH AND ALCHEMY, INC.
Contract #
N-2014-014
Agency
COMMUNITY DEVELOPMENT
Expiration Date
10/1/2018
Destruction Year
2025
Document Relationships
CSU FULLERTON (FORMERLY FULLERTON FOUNDATION)-2011
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(2) Curing the default at defaulting party's cost and <br />expense. <br />These remedies are not exclusive but are in addition to any <br />remedies now or hereafter allowed by law. <br />IS. COVENANT NOT TO RELOCATE <br />(a) Tenant agrees not to relocate the use specified in <br />Section 7 of this Agreement to any site other than the Premises <br />during the term of this Agreement without the prior written consent <br />of Landlord. Tenant shall be deemed to have relocated such use if <br />Tenant or the California State University, Fullerton initiates a <br />substantially similar use on any other site within one year prior <br />to or following the termination of such use on the Premises, unless <br />the termination of such use on the Premises occurs in accordance <br />with the terms and conditions of this Agreement. <br />(b) If Tenant relocates the use from the Premises in <br />violation of subsection (a) of this section, Tenant shall pay to <br />Landlord, as liquidated damages, an amount equal to the sum of <br />$500,000.00 plus all amounts paid to Tenant by Landlord pursuant to <br />Section 16 of this Agreement. The parties hereby agree that the <br />sum hereinafter designated as liquidated damages represents a <br />reasonable approximation of the damages Landlord is likely to <br />suffer from the relocation of the use from the Premises, given the <br />following facts, which are hereby agreed to and acknowledged by the <br />parties: Landlord is not in business for profit, but rather is <br />renovating the Premises and leasing the Premises to Tenant in order <br />to promote its governmental goals and objectives as a redevelopment <br />agency. Landlord is incurring substantial expenditures in <br />renovating the Premises to suit the specialized needs of Tenant and <br />in providing financial assistance to Tenant. <br />19. SURRENDER. <br />on the last day of the term hereof or on any sooner termina- <br />tion, Tenant shall surrender the Premises to Landlord in good <br />condition, broom clean, ordinary wear and tear excepted. Tenant <br />shall repair any damage to the Premises occasioned by its use <br />thereof or by the removal of Tenant's fixtures, furnishings and <br />equipment, which repair shall include the patching and filling of <br />holes and repair of structural damage. Tenant shall remove all of <br />its personal property and fixtures on the Premises prior to the <br />expiration of the term of this Lease and if required by Landlord <br />pursuant to Section 11(a) above, any alterations, improvements or <br />additions made by Tenant to the Premises. If Tenant fails to <br />surrender the Premises to Landlord on the expiration of the Lease <br />as required by this paragraph, Tenant shall hold Landlord harmless <br />from all damages resulting from Tenant's failure to, vacate the <br />Premises, including, without limitation, claims made by any <br />succeeding tenant resulting from Tenant's failure to surrender the <br />15 <br />
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