Laserfiche WebLink
all compensation and damages payable for or on account of such taking shall be payable to and <br />be the sole property of Tenant and Lender. <br />(c) If only a non -material portion of the YMCA Site shall be the subject of a <br />taking, then this Lease shall continue in full force and effect, except that Rent and all other <br />charges hereunder shall be reduced in the proportion that any area of the YMCA Site so taken <br />or condemned shall bear to the total YMCA Site prior to the taking. <br />23. Landlord's Right of Inspection. Landlord shall have the right to enter and inspect <br />the New YMCA upon not less than Two (2) business days prior written notice to Tenant. <br />24. Default by Landlord: Remedies of Tenant. <br />(a) Events of Default. Landlord shall be in default of this Lease if it fails to <br />perform any provision of this Lease that it is obligated to perform or if any of Landlord's <br />representations or warranties is untrue or becomes untrue in any material respect, and if the <br />failure to perform or the failure of such representation or warranty is not cured within Thirty <br />(30) days after notice of the default has been given to Landlord. If the default cannot <br />reasonably be cured within thirty (30) days, Landlord shall not be in default of this Lease if <br />Landlord commences to cure the default within such Thirty (30) -day period and diligently and in <br />good faith continues to cure the default until completion, but in no event longer than One <br />Hundred Twenty (120) days from the date of notice of default. <br />(b) Right to Cure; Tenant's Remedies. If Landlord fails to cure a default by <br />Landlord after expiration of the applicable time for cure of a particular default, Tenant, at its <br />election, but without obligation therefor (i) may seek specific performance of any obligation of <br />Landlord, after which Tenant shall retain, and may exercise and enforce, any and all rights that <br />Tenant may have against Landlord as a result of such default; (ii) from time to time without <br />releasing Landlord in whole or in part from the obligations to be performed by Landlord <br />hereunder, may cure the default at Landlord's cost; (iii) may terminate this Lease, and/or (iv) <br />may exercise any other remedy given hereunder or now or hereafter existing at law or in <br />equity. Any reasonable costs incurred by Tenant in order to cure such a default by Landlord <br />shall be due immediately from Landlord, together with interest, and may be offset against any <br />amounts due from Tenant to Landlord. Upon the occurrence of any Landlord Default and the <br />expiration without cure of any applicable notice and cure periods, Tenant may, at its option and <br />in addition to all of Tenant's other rights and remedies at law or in equity, do any of the <br />following: (a) terminate this Lease upon notice to Landlord; (b) incur, and deduct from <br />succeeding Rent or any other sum or monetary obligations owed to Landlord, as prescribed by <br />this Lease, the amount of any judgment obtained from a federal or state court resulting from <br />Landlord's failure to perform any obligation that Landlord has failed to perform; and <br />(c) exercise any other remedy explicitly provided in this Lease for the breach of a specific term <br />or condition. Tenant agrees that no officer, employee, director, manager, member, owner, <br />agent, counsel or trustee of Landlord shall be liable for Landlord's duties and obligations under <br />this Lease and that any recovery of damages or any other sums due Tenant from Landlord may <br />only be recovered from Landlord's interest in the YMCA Site. <br />ATTY/AGR/2019.316NMCA MASTER PROJECT AGREEMENT <br />Page 45 of 108 <br />