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Agmt04 cinema - closing docs
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Agmt04 cinema - closing docs
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Last modified
7/5/2005 2:27:38 PM
Creation date
12/6/2004 9:14:09 AM
Metadata
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Template:
Agreement
Contractor Name
numerous files
PROJECT NAME
Cinema - closing documents from escrow
RMP File Number
100 bin 24
Date
11/29/2004
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<br /> from the Parking Facility or Premises, or between the Parking Facility and the Premises (unless a <br /> substitute means of access satisfactory to Tenant is provided within sixty (60) days of the <br /> Taking); (b) the number of parking spaces within the Parking Facility that are available for <br /> Tenant's use as contemplated hereunder falls below ninety percent (90%) of the Minimum <br /> Parking Spaces specified in Section 1.1; or (c) Tenant's primary signage is taken, then (unless, <br /> after the completion of any restoration work to be performed by either party, such Taking does <br /> not directly or indirectly materially and adversely affect Tenant's use of the Premises), then in <br /> any such event Tenant shall have the right and option to terminate this Lease upon notice to <br /> Landlord within thirty (30) days after Tenant is informed of the Taking. If any Base Rent or <br /> other charge has been paid in advance, Landlord shall refund to Tenant all sums so paid for the <br /> period after possession is taken by the condemning authority. Each reference to a reduction in <br /> the number of parking spaces the Parking Facility in this paragraph means the amount just taken <br /> plus all amounts previously taken during the Term. <br /> Section 17.3 Reconstruction. If this Lease is not terminated pursuant to Section 17.1 <br /> or Section 17.2, the Lease shall remain in full force and effect with respect to the remainder of <br /> the Premises, subject to the following: <br /> (a) Obligation to Restore. Landlord, at its sole cost and expense, shall repair, <br /> alter and restore the affected portions of the Premises and the Common Areas and <br /> buildings and improvements on the Center (less any portions thereof so taken) to <br /> substantially the condition that existed immediately prior to such Taking or as close <br /> thereto as practicable so as to constitute complete, integrated and economically and <br /> architecturally sound structures; provided, however, that Landlord shall not be required <br /> to incur any costs or expenses under this Section 17.3(a) in excess of the amount of the <br /> proceeds received by them, respectively, as a consequence of the applicable Taking. <br /> (b) Abatement of Rent. Base Rent and all other charges hereunder (other than <br /> Percentage Rent) shall be reduced from and after the date of the taking in the same <br /> proportion that the Net Leasable Floor Area of the Premises after such taking shall bear <br /> to such area immediately before the taking. In the event of a Taking or series of Takings <br /> that results in a reduction in the number of parking spaces in the Parking Facility that are <br /> available for Tenant's use as contemplated hereunder to less than ninety percent (90%) of <br /> the Minimum Parking Spaces specified in Section 1.1, then the Base Rent (but not <br /> Percentage Rent) and all other charges hereunder shall be equitably adjusted between the <br /> parties, considering the reduction in parking spaces within the Parking Facility along with <br /> all other considerations relevant to Tenant's operations at the Premises. Any rent and <br /> other charges paid in advance at former rates shall be appropriately adjusted. During the <br /> period beginning with such Taking and ending on the date of the completion of the <br /> repairs, alterations and restoration of the Premises and other portions of the Center, the <br /> Base Rent (but not Percentage Rent) and all other charges payable hereunder shall be <br /> abated for the period and to the extent that the Premises shall be unusable for Tenant's <br /> business. <br /> 56 <br /> CHG02:3091375.v8 <br /> . -.-.............. <br />
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