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Agmt16 Fox Theatre
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Agmt16 Fox Theatre
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Last modified
5/19/2023 12:38:56 PM
Creation date
10/10/2016 4:08:45 PM
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Template:
Agreement
Contractor Name
Fox Theatre Property, LLC
PROJECT NAME
Leasing use of Fox Theatre for City Events and space for PD Subsation
RMP File Number
304.5
Date
10/10/2016
Amendment
Yes
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damage sustained by third parties caused or alleged to have been caused by the use, <br /> storage, generation, presence or release of Hazardous Materials. <br /> 11. DAMAGE AND DESTRUCTION. <br /> If, during the Term, the Building and other improvements that are part of the Premises are totally <br /> or partially destroyed from any cause rendering the Premises totally or partially inaccessible or <br /> unusable ("Casualty"), then Fox shall have the right at Fox's option to give written notice to City <br /> within 30 days after the date of the occurrence of such damage of Fox's intention to either (i) repair <br /> such damage as soon as reasonably possible at Fox's expense, or (ii) terminate this Agreement as <br /> of the date of the occurrence of such damage. If Fox elects to repair the damage, and if the <br /> restoration can be made under then existing laws and can be completed within 30 working days <br /> after obtaining all necessary permits therefor, then Fox shall restore the Building and <br /> improvements to substantially the same condition as they were in immediately before destruction. <br /> If the restoration cannot be so made, then within 15 days after the parties determine that the <br /> restoration cannot be made, City can terminate this Agreement immediately by giving written <br /> notice to Fox. If the existing laws do not permit the restoration, either party can terminate this <br /> Agreement by giving 30 days prior written notice to the other party. In case of destruction, there <br /> shall be an abatement or reduction of rent, between the date of destruction and the date of <br /> completion of restoration if restoration takes place, or the date of termination if the Agreement is <br /> terminated, based on the extent to which the destruction actually interferes with City's use of the <br /> Premises. <br /> 12. DEFAULT. <br /> 12. 1 . Events of Default. Where "default" is used in this Agreement, default refers to any <br /> breach under this Agreement, however brief. Where a default continues for the period <br /> specified below, it shall, at the other party's option, constitute an Event-of Default giving <br /> rise to the remedies set below. The occurrence of any of the following events may <br /> constitute an "Event of Default:" <br /> 12. 1 . 1 . City's abandonment of or vacating the Premises for a period of <br /> thirty (30) consecutive days; <br /> 12. 1 .2. Either party' s failure to perform its covenants and obligations hereunder <br /> where such failure continues for a period of 30 days. <br /> 12.2. Remedies. <br /> 12.2. 1 . Termination. In the event of the occurrence of any Event of Default, the <br /> party claiming default shall have the right to give a written termination notice to the <br /> other party and, on the date specified in such notice (which date shall be at least two <br /> business days following the date of delivery of such notice), this Agreement shall <br /> terminate unless on or before such date all arrears of Rent and all other sums payable <br /> by City under this Agreement and all costs and expenses incurred by or on behalf of <br /> Fox hereunder shall have been paid by City and/or all other Events of Default at the <br /> time existing shall have been fully remedied to the satisfaction of the non-defaulting <br /> party. <br /> Page 14 of 17 <br /> ATTY/AGR/2016.287/FOX THEATER AGREEMENT <br /> REV: 0-29-16 JS <br />
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