Agmt19 YMCA of Sillicon Valley Master Project Agmt.

Browse Search

Landlord's option and expense and Tenant shall provide any other documents that may be reasonably required by Landlord or Landlord's title company to provide Landlord title to the YMCA Site and the improvements thereon free and clear of all monetary liens and monetary encumbrances not caused by or agreed to by Landlord. (c) Upon the recording of the Memorandum of Lease, Tenant may elect to obtain a leasehold policy of title insurance, insuring Tenant's leasehold interest in the YMCA Site. 11. Permits, Licenses, Etc. Landlord will from time to time during the Term execute and deliver all applications for permits, licenses or other authorizations required by any municipal, county, state, or Federal authorities, or required in connection with the construction, reconstruction, repair or alteration of any buildings or improvements which related to the improvements on the YMCA Site. Landlord will from time to time during the Term execute, acknowledge and deliver any and all instruments required to grant rights-of-way and easements in favor of municipal and other governmental authorities or public utility companies incident to the installation of water lines, fire hydrants, sewers, electricity, telephone, gas, steam, and other facilities and utilities reasonably required for the construction, use and occupancy of the improvements on the YMCA Site. Tenant shall reimburse Landlord for any sum paid by Landlord specified in this Section 11 (Permits, Licenses, Etc.), only with respect to the New YMCA. 12. As -Is Condition of YMCA Site; Phase 2 Improvements; Future Alterations or Improvements to YMCA Site. (a) Tenant acknowledges that prior to the Commencement Date, Tenant has had the opportunity to investigate the YMCA Site and the Non -Exclusive Common Area, enter the YMCA Site and conduct tests thereon and otherwise satisfy itself regarding the physical condition of the YMCA Site and the Non -Exclusive Common Area and their suitability for Tenant's intended use and construction of the Phase 2 Improvements thereon. Tenant's execution of this Lease constitutes Tenant's acceptance of the YMCA Site in its "AS -IS" condition, with all faults. Tenant releases Landlord and any of its subsidiaries and affiliates and their respective officers, directors, shareholders, employees and attorneys from any and all liabilities and claims of any type concerning the condition of the YMCA Site. (b) Following the Commencement Date, Tenant shall proceed with due diligence and dispatch to complete the construction of the Phase 2 Improvements on the YMCA Site and the Non -Exclusive Common Area in a timely manner, as set forth in the Master Project Agreement. (c) All improvements, changes and alterations (other than changes or alterations of movable trade fixtures and equipment or improvements, changes or alterations involving costs less than Ten Thousand Dollars ($10,000)) shall be undertaken in all cases subject to the following conditions which Tenant covenants to observe and perform: ATTY/AGR/2019.316/YMCA MASTER PROJECT AGREEMENT Page 34 of 108