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DELHI CENTER - DELHI PARK CONSTRUCTION AND FUNDING AGMT-2000
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DELHI CENTER - DELHI PARK CONSTRUCTION AND FUNDING AGMT-2000
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3/28/2017 2:29:34 PM
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6/17/2014 1:34:47 PM
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Company Name
DELHI CENTER
Contract #
A-2000-171
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Section 5.12. Ownership of Improvements <br />Title to all Improvements, including the Community Center, to be constructed on the Premises by <br />Tenant shall be owned by Tenant until expiration of the term or earlier termination of this lease. All <br />Improvements, including the Community Center, on the Premises at the expiration of the term or earlier <br />termination of this lease shall, without compensation to Tenant, then automatically and without any act of <br />Tenant or any third party become Landlord's property. Tenant shall surrender the Improvements to Landlord at <br />the expiration of the term or earlier termination of this lease, free and clear of all liens and encumbrances, <br />other than those, if any, permitted under this lease or otherwise created or consented to by Landlord. Tenant <br />agrees to execute, acknowledge, and deliver to Landlord any instrument requested by Landlord as necessary in <br />Landlord's opinion to perfect Landlord's right, title, and interest to the Improvements and the Premises. <br />ARTICLE 6 <br />ENCUMBRANCE OF LEASEHOLD ESTATE <br />Section 6.01. Tenant's Right to Encumber <br />Tenant may, at any time and from time to time during the term of this lease, encumber to any <br />institutional lender regulated by state or federal authority (referred to in this lease as "Lender "), by deed <br />of trust or mortgage or other security instrument, all of Tenant's interest under this lease and the leasehold <br />estate hereby created in Tenant (referred to in this lease as a "Leasehold Encumbrance ") for any purpose <br />or purposes without the consent of Landlord. However, no Leasehold Encumbrance incurred by Tenant in <br />accordance with this Section shall, and Tenant shall not have power to incur any encumbrance that shall, <br />constitute in any way a lien or encumbrance on Landlord's fee interest in the Premises. Any Leasehold <br />Encumbrance shall be subject to all covenants, conditions, and restrictions set forth in this lease and to all <br />rights and interests of Landlord, except as is otherwise provided in this lease. Tenant shall give Landlord prior <br />written notice of any Leasehold Encumbrance, together with a copy of the deed of trust, mortgage, or other <br />security interest evidencing the Leasehold Encumbrance, <br />Section 6.02. Notice to and Service on Lender <br />Landlord shall mail to any Lender who has given Landlord written notice of its name and address, a <br />duplicate copy of any and all notices Landlord may from time to time give to or serve on Tenant in accordance <br />with or relating to this lease, including but not limited to any notice of default, notice of termination, or notice <br />regarding any matter on which Landlord may predicate or claim a default. Any notices or other <br />communications permitted by this or any other section of this lease or by law to be served on or given to <br />Lender by Landlord shall be deemed duly served on or given to Lender when deposited in the United States <br />mail, first -class postage prepaid, addressed to Lender at the last mailing address for Lender furnished in <br />writing by Lender to Landlord. <br />Section 6.03. Additional Right to Encumber <br />Tenant may, at any time and from time to time during the term of this lease, encumber to the California <br />Department of the Youth Authority, pursuant to California Welfare and Institutions Code Section 990, et seq. <br />Section 6.04. RESERVED <br />Section 6.05. RESERVED <br />Section 6.06. RESERVED <br />
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