Agmt17 Belmont-Redwood Shores School District

Browse Search

(d) "Substantial Taking" means the Taking of so much of the Premises that the remaining portion thereof would not be economically and feasibly usable by District for the then existing uses and purposes of the New Classroom Building. (e) "Temporary Taking" means the taking of any interest in the Premises for a less than 60 days. (f) "Taking" means any taking of or damage to, including severance damage, all or any part of the Premises or any interest therein by the exercise of the power of eminent domain, or by inverse condemnation, or a voluntary sale, transfer or conveyance under threat of condemnation in avoidance of the exercise of the power of eminent domain or while condemnation proceedings are pending. (g) "Total Taking" means the Taking of the fee title to all, or substantially all, of the Premises. 26.2 General. If during the Term, there is any Taking of all or any part of the Premises or any interest in this Lease, the rights and obligations of the parties shall be determined pursuant to this Section. 26.3 Notice. The Party receiving any notice of the kind specified below shall promptly give the other Party written notice and a copy of any: (i) Notice of Intended Taking; (ii) Service of any legal Process relating to condemnation of all or a portion of the Premises; (iii) Notice in connection with any proceedings or negotiations with respect to such condemnation; or (iv) Notice of intent or willingness to make or negotiate a private purchase, sale, or transfer in lieu of condemnation. City and District each shall have the right to represent its respective interest in each proceeding or negotiation with respect to a Taking or intended Taking and to make full proof of their respective claims. No agreement, settlement, sale or transfer to or with the condemning authority shall be made without the mutual agreement of City and District. City and District each agree to sign, acknowledge and deliver to the other any instruments that may be reasonably required to effectuate or facilitate the provisions of this Lease relating to condemnation. 26.4 Total or Substantial Taking: Award. (a) Total or Substantial Taking. In the event of a Total Taking or Substantial Taking, this Lease shall terminate, and District's interest in this Lease and all obligations of District subsequently accruing hereunder shall cease, as of the fust to occur of (i) the date of the vesting of title in the condemning authority or (ii) the date actual physical possession of all or part of the Premises is taken by the condemning authority prior to the date of vesting of title. District's obligations to pay Rent shall terminate as of such date. (b) Award in the Event of Total or Substantial Taking. In the event of a Total Taking or Substantial Taking, the award shall be apportioned as follows: FIRST: To City and District, as the case may be, payment for all out of pocket costs and expenses, including reasonable attorneys' fees, costs and disbursements, reasonably incurred in collecting the award; SECOND: To City the fair market value of the Premises taken, less the value of District's remaining leasehold interest; District shall not be entitled, however to any compensation for any value attributable to the fact that the rent reserved under this Lease may be lower than the fair rental value of the Premises; THIRD: To District that portion of the award attributable to the value of District's leasehold interest in the Lease and the Premises and the District's interest in the New Classroom Building; FOURTH: To City, the entire balance of the award. 26.5 Partial Taking: Award. (a) Partial Taking. In the event of a Partial Taking, this Lease shall remain in full force and effect, covering the remainder of the Premises, except that this Lease shall be deemed amended such that the definition of the "Premises" shall include only that portion of the land described in Exhibit D attached that is not taken, and the Rent ATTY/AGR/2017.041/GROUND LEASE—SANDPIPER REV: 03-01-17 JS Page 19 of 33