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AgdaPkt 2008-05-12
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AgdaPkt 2008-05-12
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Last modified
9/24/2013 12:44:05 PM
Creation date
5/8/2008 4:39:30 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
5/12/2008
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6.1 G <br /> Page 23 <br /> AITACHMENT 2 <br /> ai! of Lessee's assets located at tMe Premises or of Lessee's <br /> interest in this Agreement. <br /> {g) Lessee acknowiedges that Lessor has executed this Agreement in <br /> reiiance on the financia{ informatian furnished by Lessee to Lessor as ta <br /> Lessee's finanr,iaf condition. If it is determined at any time subsequent to <br /> the date of this Agreement that any of the #inancial information furnished <br /> by Lessee and relied upon by Lessor in executing this Agreement is <br /> substantialty untrue ar inaccurate, E.essee shall be deemed to be in <br /> default under this Agreement, which default shall not be subject to cure, <br /> and which shall entitle Lessor to exercise all remedies reserved to Lessor <br /> under this Agreement or atherwise available to Lessor at law. <br /> (h) Failure to abide by any local, state, or Federaf governmentai laws or <br /> regulations. <br /> 34. REMEDIES <br /> 34.1 In the event of any breach by Lessee, in addition ta other righ#s or remedies of <br /> Lessor at(aw or in equity, Lessor shall have the following remedies: <br /> � A. If Lessee breaches the lease and abandons the Premises before fhe end <br /> of the term, or if his right to possession is terminated by the Lessor <br /> because of a breach of the fease, the lease terminates. Upon such <br /> wriften notice of termination, the Lessor shall have the right to recover <br /> against Lessee: <br /> 1. The worth at the time of award of the unpaid rent that had been <br /> earned at the time of termination; <br /> 2. The wor#h afi the time of award of the amoun# by which the unpaid <br /> rent that would have been eamed after termination until the time <br /> of award exceeds the amount ofi this rental loss that Lessee <br /> praves could have been reasonably avoided; <br /> 3. Th�wo�th at the time of award of the amount by which the unpaid <br /> rent for the balance of the Term after the #ime of award exceeds <br /> the amount of this rental loss that Lessee proves could be <br /> reasonabfy avoided; and <br /> 4. Any other amount necessary to campensate Lessor #or ai! the <br /> detriment proximate�y caused by Lessee's failure to perform <br /> Lessee's obfigations under the Agreement. <br /> B. The worth at the time of award of the amounts referred to in <br /> subparagraphs (1} and (2} of subdivision (A) shall be computed by <br /> a[lawing interest at#en percent (10%) per annum. The wcxth at fhe time <br /> of award of the amoun# referred to in subparagraph (3} of subdivision (A} <br /> shall be computed by discaunting #his amaunt at the discount rate of the <br /> Federal Reserve Bank of San Francisco at the time of award pius one <br /> percenf(1%). <br /> Atiy/Agrl2008.033 20 <br /> 050508 <br />
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