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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 /> improvements remain upon the Premises, in each case determined in accordance with Tenant's <br /> federal income tax accounting procedures. <br /> ARTICLE 20 <br /> SURRENDER OF PREMISES AND REMOVAL OF PROPERTY <br /> Section 20.1 Surrender. On or before the last day of the Term or the earlier expiration <br /> thereof, Tenant shall surrender the Premises to Landlord in good condition and repair except for <br /> reasonable wear and tear, repairs which are Landlord's obligation hereunder and damage by <br /> casualty or the elements or taking by eminent domain; provided, however, Tenant (in it sole and <br /> absolute discretion) may remove any or all of its FF &E, personal property and trade fixtures <br /> (including Tenant's Signs) from the Premises (or elsewhere in the Center) within thirty (30) days <br /> after the expiration of the Term or the earlier termination of this Lease, but Tenant shall repair <br /> all damage incurred in the removal of the same. <br /> Section 20.2 Financing of Trade Fixtures. It is understood by Landlord that Tenant <br /> may lease or finance the construction of the Building and/or Tenant's FF&E and other personal <br /> property from a leasing company or lender, hereinafter referred to as the "Finance Company." <br /> Said FF &E and other personal property will be installed, maintained and used in the Premises in <br /> order to assist Tenant to carryon its business as provided for herein. Landlord further agrees that <br /> any of said FF&E and other personal property shall remain Tenant's personal property, <br /> notwithstanding the manner or mode of the attachment to the Premises. Landlord recognizes and <br /> acknowledges that any claim or claims that the Finance Company has or hereafter may have <br /> against said FF&E and other personal property by virtue of an equipment lease or chattel <br /> mortgage or the like is superior to any lien or claim of any nature which Landlord now has or <br /> hereafter may have to Tenant's FF&E and other personal property by statute, agreement or <br /> otherwise. In the event of default of Tenant in the payment of any rental or other amount due to <br /> the Finance Company, or in the performance of any of the other terms and conditions of the <br /> equipment lease, chattel mortgage or the like or extensions or renewals thereof, the Finance <br /> Company or its assign may remove Tenant's FF&E and other personal property covered by such <br /> equipment lease or chattel mortgage or the like or any part thereof from the Premises in <br /> accordance with the terms and conditions of the equipment lease or chattel mortgage or the like. <br /> Tenant and the Finance Company (and its assigns) shall be responsible for any damage caused in <br /> the removal of any such FF &E and personal. property from the Premises by the Finance <br /> Company (and its assigns) pursuant to this Section 20.2. Landlord will make no claim <br /> whatsoever to any FF&E or other personal property covered by any equipment lease or chattel <br /> mortgage or the like. The Finance Company may, without affecting the validity of this waiver, <br /> extend the terms of payment of any rental or the performance of any of the other terms or <br /> conditions of the equipment lease or chattel mortgage or the like, without the consent of <br /> Landlord and without giving notice to Landlord. This waiver shall inure to the benefit of the <br /> successors and assigns of the Finance Company and shall be binding upon the heirs, personal <br /> representatives, successors and assigns of Landlord. <br /> 68 <br /> CHG02:3091375.v8 <br /> . -..."..,,-- <br />
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