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Agmt25 YMCA-SV Second Amendment
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Agmt25 YMCA-SV Second Amendment
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Last modified
8/8/2025 3:32:26 PM
Creation date
8/8/2025 3:32:04 PM
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Agreement
PROJECT NAME
Master Project agreement
RMP File Number
304
Date
8/1/2025
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Exhibit D <br />ATTY/AGR/2025/AMEND NO.2 – YMCA MASTER PROJECT AGREEMENT <br />REV: 07-17-25 VR <br />25. Default by Tenant; Remedies of Landlord. <br />(a)Each of the following occurrences shall be deemed an event of default <br />hereunder by Tenant (each such occurrence, after the expiration of any applicable notice and cure <br />period, being hereinafter referred to as a “Tenant Default”): <br />(1)Failure to complete construction of the New YMCA by the Phase 2 <br />Improvements Outside Completion Date as provided in Section 3(a) above. For avoidance of doubt, <br />Tenant’s failure to complete construction of the New YMCA by the Phase 2 Improvements Outside <br />Completion Date shall not be subject to any cure period. <br />(2)Default in the payment of Rent or any other sum owing to Landlord or <br />third parties continuing for a period of Ten (10) days from when such amount was due. <br />(3)Default in the performance of any other covenant or condition of <br />Tenant pursuant to this Lease or material inaccuracy in any representation or warranty made by <br />Tenant hereunder for a period of Thirty (30) days after notice from Landlord of the default or <br />inaccuracy. If the default cannot reasonably be cured within Thirty (30) days, Tenant shall not be in <br />default of this Lease is Tenant commences to cure the default within such Thirty (30) day period and <br />diligently and in good faith continues to cure the default until completion, but in no event longer than <br />One Hundred Twenty (120) days from the date of notice of default. <br />(4)Default beyond any notice and cure period under the Common Area <br />Maintenance Agreement or the Operating Agreement of the New YMCA. <br />(5)Failure to continuously occupy or operate the YMCA Site in <br />accordance with Section 7 (Hours of Business/Covenant of Continuous Operation), above. A <br />vacation of occupancy or a cessation of operations for Thirty (30) or more consecutive days (or Sixty <br />(60) non-consecutive days in a Twelve (12) month period) shall be a Tenant Default. <br />(6)The making by Tenant of any general assignment for the benefit of <br />creditors; the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or insolvent <br />or of a petition for reorganization or arrangement under any federal or state bankruptcy or other <br />insolvency law (unless, in the case of a petition filed against Tenant, the same is dismissed within <br />Sixty (60) days after filing); the appointment of a trustee or receiver to take possession of all or <br />substantially all of Tenant’s assets located at the YMCA Site or of Tenant’s interest in this Lease and <br />possession is not restored to Tenant within Sixty (60) days thereafter; or the attachment, execution <br />or other judicial seizure of substantially all of Tenant’s assets located at the YMCA Site or of <br />Tenant’s interest in this Lease and possession is not restored to Tenant within Sixty (60) days <br />thereafter. <br />(b)IN THE EVENT LANDLORD TERMINATES THIS LEASE FOLLOWING <br />A TENANT DEFAULT UNDER SUBSECTIONS 3(a) and 25(a)(1) ABOVE, THEN THE <br />DAMAGES SUFFERED BY THE CITY BY REASON THEREOF WOULD BE UNCERTAIN. IT <br />Page 18 of 50
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