25E - AGMT - PARKING LEASE - Laserfiche WebLink

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DO NOT RECORD Lessee shall maintain the foregoing insurance coverages in force throughout the term of this Agreement. The requirement for carrying the foregoing insurance coverages shall not derogate from the provisions for indemnification of Lessor by Lessee under the Agreement. Lessor or its representatives shall at all times have the right to demand the original or a copy of all these policies of insurance, which Lessee shall provide within fifteen (15) days of Lessor's request. ARTICLE 5 —TERMINATION/DEFAULT Section 5.01 Termination (a) In the event of any damage, destruction or condemnation of the Property, which renders the Property unusable or inoperable in Lessor's judgment, Lessee shall have the right, but not the obligation, to terminate the Agreement with respect to the subject Property by giving written notice to Lessor within thirty (30) days after such damage, destruction or condemnation. If by virtue of such casualty or condemnation, Lessor determines that the Property is no longer adequate for Lessee to continue its operations, or any repairs to the Property have not been completed or cannot reasonably be completed within sixty (60) days from the date of the damage, destruction or condemnation. This Agreement will become null and void. (b) In the event of condemnation, unless Lessee is allowed by the condemning authority to continue its operations in the Property, this Agreement shall terminate as of the date title to the Property vests in the condemning authority or Lessee is required to cease its operations, whichever is earlier. If any property described herein or hereinafter added hereto is taken in eminent domain, the entire award shall be paid to Lessor. (c) This Agreement may be terminated on fifteen (15) days prior written notice by either party upon a default of any covenant or term hereof by the other party, which default has been noticed and is not cured within thirty (30) days of receipt of written notice of default, provided that the grace period for any monetary default is only ten (10) days from receipt of notice. ARTICLE 6 — ASSIGNMENT, ABANDONMENT, DEFAULT, INSOLVENCY Section 6.01 Assignment Lessee shall not, either voluntarily or by operation of law, assign, transfer, mortgage, pledge, or encumber this lease or any interest therein, and shall not sublet said Property or any part thereof, or any right or privilege appurtenant thereto, or allow any other person (the employees, agents, servants, and invitees of Lessee excepted) to occupy or use said Property, or any portion thereof, without the prior written consent of the Lessor. 25E -10