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GREYHOUND LINES, INC.-2016
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GREYHOUND LINES, INC.-2016
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Last modified
2/17/2021 4:36:03 PM
Creation date
2/3/2017 4:39:05 PM
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Contracts
Company Name
GREYHOUND LINES, INC.
Contract #
A-2016-332
Agency
PUBLIC WORKS
Council Approval Date
11/15/2016
Insurance Exp Date
4/1/2021
Destruction Year
0
Document Relationships
GREYHOUND LINES, INC.
(Amended By)
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\Contracts / Agreements\G
GREYHOUND LINES, INC. (4)
(Amended By)
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\Contracts / Agreements\G
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(d) If any such damage or destruction shall occur within the last six (6) <br />months of the Term, or any Extension Period, affecting more than fifty percent (50%) of the <br />replacement value of the improvements located on the Promises, Tenant may terminate this <br />Lease without owing any liability to the Landlord by notice to the Landlord within thirty (30) <br />days after the date of such damage or destruction, in which case Tenant agrees to turn over to <br />Landlord all applicable insurance proceeds received as compensation for damages to the <br />Premises to the extent of actual cost of restoration. If this Lease is terminated as provided in this <br />Section, both parties shall be relieved of any further liabilities hereunder except for obligations <br />accrued at the date of such damage or destruction, and any sums prepaid by Tenant shall be <br />apportioned and appropriately refunded to Tenant. <br />17. EMINENT DOMAIN: (a) If (i) all or part of the Premises, the building located <br />thereon, or (ii) so much of any rights in the Premises or the building located thereon shall be <br />taken or appropriated under any right of eminent domain or imder any other legal right whereby <br />the taking authority is obligated to compensate Landlord therefor so that there does not remain <br />premises suitable in the sole opinion of Tenant for the operation of its business then Tenant may <br />terminate and cancel this Lease without owing any liability to Landlord as of the date on which <br />the condemning authority takes physical possession upon giving to Landlord written notice of <br />such election. Landlord agrees immediately within ten (10) days after any notice of intended or <br />actual taking or appropriation to give Tenant written notice thereof, providing to Tenant full <br />details of such taking or appropriation, including, without limitation copies of all condemnation <br />plans or surveys submitted by the condemning authority, a statement of the nature of the project <br />to be conducted by the condemning authority, and such other information as might be necessary <br />to enable Tenant to determine its future course of conduct. TENANT ACKNOWLEDGES <br />THAT LANDLORD'S EXERCISE OF ITS RIGHT TO TERMINATE THIS LEASE <br />UNDER ANY OF THE PROVISIONS OF TRIS LEASE SHALL NOT ENTITLE <br />TENANT TO ANY RIGHTS OR CLAIMS FOR RELOCATION BENEFITS OR ANY <br />OTHER CLAIMS RELATED TO CONDEMNATION OR INVERSE CONDEMNATION. <br />(b) If this Lease shall be terminated and canceled as a result of any taking or <br />appropriation, Tenant shall be released from any further liability and Rent and other sums for the <br />last month of Tenant's occupancy shall be prorated and Landlord shall immediately refund to <br />Tenant any sums paid in advance. <br />(c) Tenant reserves unto itself the right to prosecute Tenant's claim for an <br />award for damages for the termination of this Lease caused by such appropriation or taking, <br />together with damages based on the value of Tenant's improvements and Tenant's fixtures and <br />other personal property erected or installed on the Premises and damages Tenant may sustain to <br />the interest in the business operated by Tenant on the Premises, including, but not limited to, <br />goodwill, patronage, and the removal, relocation, and replacement costs and expenses caused by <br />such appropriation or tatting, and Tenant may file such claims as are permitted by law for the <br />loss of its leasehold interest, business dislocation damages, moving expense, or other damages <br />caused by such taking or appropriation. Tenant's right to receive compensation or damages for <br />its -fixtures or its personal property shall not be affected in any manner by this Lease. <br />
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