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2020-092 County Mgr - Eno River Mill office space lease
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2020-092 County Mgr - Eno River Mill office space lease
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Last modified
7/16/2020 9:14:57 AM
Creation date
7/16/2020 8:46:14 AM
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Contract
Date
2/7/2020
Contract Starting Date
3/15/2020
Contract Ending Date
3/31/2025
Contract Document Type
Lease
Amount
$6,600.00
Document Relationships
R 2020-091 County Mgr - Eno River Mill artist space lease
(Attachment)
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\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2020
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effective to the date of such fire or other casualty . If the Lease is not so terminated as provided in this <br /> article 9 , then subject to and to the extent of available insurance proceeds , Landlord shall proceed with <br /> diligence to rebuild and restore the Building or the Demised Premises (exclusive of Tenant ' s property) , as <br /> the case may be, so damaged or destroyed substantially to the condition thereof existing immediately <br /> prior to such damage or destruction within 280 days after the date of such fire or other casualty (exclusive <br /> of Tenant Delay and Force Majeure Delay) , in which event the Term of this Lease shall not terminate, but <br /> any Minimum Rent and Additional Rent payable under article 6 and Exhibit D hereof shall abate on a per <br /> diem basis while the Demised Premises remain untenantable . If, subject to the sufficiency of insurance <br /> proceeds , Landlord shall fail to complete the rebuilding and restoration of the Building and/or the <br /> Demised Premises such that a certificate of occupancy (temporary or final) shall not have been issued <br /> within the aforesaid 280 - day period, exclusive of Force Majeure Delay and Tenant Delay, then either <br /> Landlord or Tenant, by written notice to the other given within 30 days next following the last day of the <br /> aforesaid 280 - day period, may terminate this Lease retroactive to the date of such fire or casualty, and any <br /> Minimum Rent and Additional Rent payable under article 6 and Exhibit D hereof shall be abated or <br /> apportioned ( as the case may be) on a per diem basis and paid to the date of such fire or casualty . <br /> Termination of the Lease by Tenant shall be Tenant ' s sole remedy for Landlord ' s failure to rebuild or <br /> restore the Demised Premises and/or Building under this article 9 . <br /> If the Demised Premises or the Building, as the case may be, is damaged by fire or other casualty <br /> to the extent of less than 50 % of the value thereof in the reasonable opinion of Landlord, and not resulting <br /> from the act or omission of Tenant, then Landlord shall, except as otherwise provided herein, proceed <br /> with diligence to rebuild and restore the Building and/or the Demised Premises (exclusive of Tenant ' s <br /> property) , as the case may be , so damaged substantially to the condition thereof existing immediately <br /> prior to such damage or destruction . Notwithstanding the foregoing, if by reason of such occurrence, ( 1) <br /> the Building and/or the Demised Premises is damaged in whole or in part as a result of a risk which is not <br /> covered by insurance policies in force and carried by Landlord; or (ii) Mortgagee shall not permit a <br /> sufficient amount of the insurance proceeds to be used for restoration purposes ; or (in) the Building <br /> and/or the Demised Premises is damaged during the final twelve month period of this Lease (including <br /> any properly exercised extensions and renewals, if any) , or (iv) Landlord does not reasonably believe that <br /> the rebuilding and/or restoration can be completed within 200 days after the occurrence of such casualty, <br /> then in any event, Landlord may cancel this Lease by written notice of cancellation given to Tenant <br /> within 60 days after the date of such casualty, and thereupon this Lease shall terminate . If such <br /> cancellation notice is not given by Landlord within said 60 -day period, then Landlord shall repair and <br /> restore the Building and/or the Demised Premises as provided above . In addition, Tenant may also <br /> terminate this Lease, by written notice to Landlord at any time between the 200th and 230th day <br /> (exclusive of Force Majeure Delay and Tenant Delay) after the occurrence of any such casualty if <br /> Landlord shall fail to complete the rebuilding and restoration of the Building and/or the Demised <br /> Premises such that a certificate of occupancy (temporary or final) shall not have been issued prior to the <br /> issuance of the notice of termination by Tenant . Termination of the Lease by Tenant shall be Tenant ' s <br /> sole remedy for Landlord' s failure to rebuild or restore the Demised Premises and/or Building under this <br /> article 9 hereof. Upon termination of this Lease, Tenant ' s liability for Rent and other charges reserved <br /> hereunder and accruing after the date of such fire or casualty shall cease as of the effective date of the <br /> termination of this Lease . <br /> Except as hereafter provided to the contrary, if by reason of such casualty, the Demised Premises <br /> is rendered wholly untenantable, Minimum Rent and Additional Rent payable under article 6 and Exhibit <br /> D herein shall be fully abated, or if only partially damaged, such Minimum Rent and Additional Rent <br /> payable under article 6 and Exhibit D herein shall be abated proportionately as to that portion of the <br /> Demised Premises rendered untenantable in either event (unless the Lease is terminated, as aforesaid) <br /> from the date of such fire or casualty until 15 days after notice by Landlord to Tenant that the Demised <br /> Premises have been substantially restored or until Tenant has resumed its business operations in the <br /> OCAC Lease Page 6 <br />
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