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Agenda 04-07-2026; 8-q - Approval of Agreements for School Sales Tax Recapture
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Agenda 04-07-2026; 8-q - Approval of Agreements for School Sales Tax Recapture
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4/2/2026 2:58:48 PM
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BOCC
Date
4/7/2026
Meeting Type
Business
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Agenda
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8-q
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10 <br /> ARTICLE V <br /> COVENANTS REGARDING CARE AND POSSESSION <br /> 5.1 Alterations. Improvements. and Changes Permitted. Landlord has the right <br /> to make such alterations, improvements, and changes to any of the Improvements as <br /> Landlord may deem appropriate, subject to all applicable governmental regulations. <br /> 5.1.1 Disposition of New Improvements.Any and all improvements constructed <br /> upon the Leased Premises by Tenant, or by Landlord as agent for Tenant pursuant to <br /> the Interlocal Agreement, automatically become Landlord's property upon <br /> completion of the construction or renovation, subject to Tenant's leasehold interest <br /> under this Master Lease. All improvements will remain upon the Leased Premises <br /> upon expiration or termination of the Master Lease. All other alterations, <br /> improvements, changes, or additions made by Landlord in or to the Leased Premises <br /> shall be Landlord's property, subject to Tenant's leasehold interest under this Master <br /> Lease <br /> 5.2 Fire or Other Casualty. If any portion of the Leased Premises is damaged by <br /> fire or other casualty, Landlord at its option may, either in its own capacity or as agent <br /> for Tenant pursuant to the Interlocal Agreement, rebuild or restore the improvements <br /> to as good or better condition than that existing immediately prior to said fire or other <br /> casualty, and this Master Lease shall not terminate. <br /> 5.3 Eminent Domain. If any portion of the Leased Premises is acquired by a <br /> taking (in this case, meaning any acquisition by any government authority in the valid <br /> exercise of its power of eminent domain or by private purchase in lieu of an <br /> involuntary acquisition), and that taking relates to a portion of the fee simple title to <br /> Leased Premises, as well as to the right, title and interest of Tenant, the rights and <br /> obligations of the parties under this Master Lease will continue except as to that <br /> portion of the Leased Premises subject to the taking. All compensation awarded for <br /> any taking will be Landlord's property, whether the award is for compensation for <br /> damages to Landlord's or Tenant's interest in the Leased Premises. Tenant hereby <br /> assigns all of its interest in any such award to Landlord. <br />
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