2021-315 Arts Commission-Eno River Mill-Annual Rent

Browse Search

Property which it has placed in the Demised Premises provided Tenant repairs all damages caused by such removal . If Tenant does not remove Tenant Property from the Demised Premises within 5 days after expiration or termination (for whatever cause) of this Lease, such property (other than that containing radioactive, biologically active or other hazardous substances or in shall be deemed conclusively abandoned by Tenant, and Landlord may dispose of the same in whatever manner Landlord may elect . IT Eminent Domain . If all of the Demised Premises , or such part thereof as will make the same unusable for the purposes contemplated by this Lease, be taken under the power of eminent domain (or a conveyance in lieu thereof), then this Lease shall terminate as of the date possession is taken by the condemnor, and Rent shall be adjusted between Landlord and Tenant as of such date . If only a portion of the Demised Premises are taken and Tenant can continue use of the remainder, then this Lease will not terminate, but Rent shall abate in a just and proportionate amount to the loss of use occasioned by the taking . Tenant shall have no right or claim to any part of the award made to or received by Landlord for any taking ; provided, however, that Tenant shall not be prevented from making a claim against the condemning party (but not against Landlord) for any moving expenses , loss of profits, or taking of Tenant Property (other than its leasehold estate) to which Tenant may be entitled provided such claim does not reduce the award otherwise payable or due Landlord . 18 . Quiet Enjoyment. If Tenant promptly and punctually complies with each of its obligations hereunder, it shall, subject to the terms of this Lease, peacefully have and enjoy the possession of the Demised Premises during the term hereof, provided that no action of Landlord, which does not impair Tenant ' s normal business , in working in other space in the Building, or in repairing or restoring the Demised Premises , shall be deemed a breach of this covenant, giving Tenant any right to modify this Lease either as to term , Rent payable, or other obligations to be performed . 19 . Security Deposit. Landlord hereby acknowledges receipt from Tenant the sum set forth in paragraph l (r) hereof, which sum Landlord shall retain as security for the performance by Tenant of each of its obligations hereunder . If Tenant fails at any time to perform its obligations , Landlord may at its option apply said deposit, or so much thereof as is required, to cure Tenant ' s default, but if prior to the termination of this Lease , Landlord depletes said deposit in whole or in part, Tenant shall immediately restore the amount so used by Landlord . This deposit shall not bear interest for the benefit of Tenant and unless Landlord uses the same to cure a default of Tenant, or to restore the Demised Premises to the condition that Tenant is required to leave them at the conclusion of the Term . If Tenant shall not be in default hereunder, Landlord shall within 30 days of the termination or expiration of this Lease refund to Tenant so much of the deposit as it continues to hold . 20 . Notices . Any notice which Landlord or Tenant is required or desires to give to the other shall be deemed sufficiently given or rendered if in writing, either personally via hand delivery or sent by United States Postal System certified mail, postage or fees prepaid; or sent by recognized overnight courier ( such as Fed Ex or UPS ) for next business day delivery to the notice addresses set forth in article 1 or to such other notice address as such party shall render to the other at least 10 days prior . All such notices or communications shall be deemed delivered, given, and received upon actual receipt (by personal delivery) or when the return receipt or receipt therefor is signed, or refusal to accept the mailing by the addressee as noted thereon by the postal authority or recognized overnight courier, not in any event to exceed 3 j business days from the date when the notice was deposited for delivery regardless of the refusal to accept delivery or inability to deliver due to the recipient having failed to keep the sender informed of the recipient' s current address . Any notice required to be given to a Mortgagee hereunder shall only be required to be given by Tenant to the extent that Tenant itself has received actual notice of the address of Mortgagee . Notwithstanding anything herein to the contrary, notices may be given on behalf of any party by such party ' s legal counsel , and if such notice is to be received at 2 or more addresses as set forth I 4 4 G i Page 13 OCAC Lease C c i