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Agmt01 Joint Powers Board
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Agmt01 Joint Powers Board
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Last modified
7/5/2005 2:52:32 PM
Creation date
4/23/2002 10:17:59 AM
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Template:
Agreement
Contractor Name
Joint Powers Board (Peninsula Corridor)
PROJECT NAME
James Avenue lease agreement
RMP File Number
304
Date
11/16/2001
Reso Ref
14385
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such proceeding is dismissed within thirty (30) days thereafter, (c) an adjudication of bankruptcy <br />or a finding or judgment of insolvency of Lessee, (d) an assignment for the benefit of creditors <br />by Lessee, (e) the levy of a writ of execution of the business of Lessee or the assets of Lessee <br />located on the Premises which is not discharged within ten (10) days after the date of said levy, <br />or (f) the appointment of a receiver to take possession of any property of Lessee. <br /> <br /> 23. Remedies. <br /> <br /> In the event of a Default by Lessee, Lessor may, at any time thereafter: <br /> <br /> (a) Cure said Default by Lessee at Lessee's expense. Lessee shall, upon <br />demand, immediately reimburse Lessor for the cost of such cure together with interest at the <br />Interest Rate from the date of the expenditure therefor by Lessor until such reimbursement is <br />received by Lessor. <br /> <br /> (b) Maintain Lessee's right to possession in which case this Lease shall <br />continue in effect whether or not Lessee shall have vacated or abandoned the Premises, in which <br />event Lessor shall be entitled to enforce all of Lessor's rights and remedies under this Lease, <br />including the right to recover the Rent as it becomes due hereunder as provided in California <br />Civil Code Section 1951.4. Acts of maintenance or preservation, efforts to re-let the Premises, or <br />the appointment of a receiver upon the initiative of Lessor to protect Lessor's interest under this <br />Lease shall not constitute a termination of Lessee's right to possession. No act by Lessor other <br />than giving written notice to Lessee will terminate this Lease. <br /> <br /> (c) Terminate Lessee's right to possession of the Premises by any lawful <br />means, in which case this Lease shall terminate and Lessee shall immediately surrender <br />possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from <br />Lessee the sum of all amounts set forth in California Civil Code Section 1951.2(a), including <br />without limitation, the worth at the time of award of the amount by which all unpaid rent for the <br />balance of the Term of this Lease after the time of award exceeds the amount of such rental loss <br />that Lessee proves could be reasonably avoided, and all other damages incurred by Lessor by <br />reason of Lessee's default including, without limitation, the cost of recovering possession of the <br />Premises, and expenses of re-letting such as renovation of the Premises and real estate <br />commissions and finder's fees actually paid for such re-letting. The "worth at the time of award" <br />shall be computed in the manner provided in Califomia Civil Code Section 1951.2(b) or its <br />successor statute. For the purpose of determining unpaid rent under this paragraph, the rent <br />reserved in this Lease shall be deemed to be the sum of all then unpaid monetary obligations <br />owed under this Lease. <br /> <br /> (d) Pursue any other remedy now or hereafter available to Lessor under the <br />laws of California. <br /> <br />Termination of this Lease under this Section or for any reason whatsoever shall not release either <br />party from any liability or obligation hereunder resulting from an event which may have <br />occurred before termination (including, but not limited to payment of all rent due but unpaid as <br />of the date of temfination), or thereafter in case by the terms of this Lease it is provided that <br />certain things shall or may have to be done after termination hereof. <br /> <br /> -10- <br /> 895092.2 <br /> <br /> <br />
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