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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 /> 7. The maintenance standards and related obligations set forth in Sections 9.1(g) and <br /> 12.3 ofthe Lease must be acknowledged and agreed to by the City. Landlord and <br /> Tenant must have express self-help fights with regard to any failure to satisfy <br /> these obligations. <br /> 8. Once built, the Parking Facility shall not be altered or (except in case of <br /> emergency or due to casualty, etc.) razed or closed without advance notice to and <br /> approval by Tenant. <br /> 9. The City must be required to maintain liability insurance on the Parking Facility <br /> (in agreed form and amounts - - pursuant to Article 7 of the Lease) and Tenant <br /> must be an additional named insured on the City's liability insurance. The City <br /> also must maintain property/casualty insurance with respect to the Parking <br /> Facility, in the amount of the full replacement cost thereof (subject to the City's <br /> customary deductibles), the loss payee of which must be an agreed trustee or other <br /> depository institution who is obligated to disburse the proceeds only for <br /> rebuilding/repair. <br /> 10. Upon damage or destruction of the Parking Facility at any time during the Term <br /> of the Lease, the City must promptly repair, restore and/or rebuild the Parking <br /> Facility to its original condition. Pending the repair, etc., the City must make <br /> suitable alternate parking available (on the same terms and conditions that apply <br /> to the Parking Facility), in the amount of the Minimum Parking Spaces, within <br /> 450' of the main entrance to the Building. <br /> 11. Tenant (and its successors and assigns) shall be an express third-party beneficiary <br /> of the City's undertakings and must have the right to enforce same and to exercise <br /> the rights and privileges of the "Developer" (as defined in the Redevelopment <br /> Agreement) with respect thereto (including, the self-help rights referred to in item <br /> 6 above) in its own name and/or on behalf of and in the name of the Developer. <br /> 12. The City's obligations and undertakings regarding the Parking Facility under the <br /> Redevelopment Agreement and the Parking Agreement shall be specifically <br /> enforceable, as any breach or other non-performance. thereof would cause <br /> immediate, irreparable harm to Landlord and the tenants and occupants of the <br /> Building, including Tenant, for which money damages alone would not be an <br /> adequate remedy. <br /> 13. The term of the Parking Agreement shall be for not less than fifty (50) years, and <br /> shall not be subject to early termination or cancellation. <br /> CHG02:3091375.v8 <br /> . _.. .... <br />
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