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201503851
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Last modified
11/5/2015 9:11:35 PM
Creation date
6/9/2015 4:26:40 PM
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DEEDS
Inst Number
201503851
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5. No -Build Area. Absent Tenant's prior written approval, Landlord shall not <br />construct improvements upon or within the Demised Premises or otherwise alter any <br />area of the Demised Premises, except as may be provided in Section 8.4 of the Lease. <br />6. Expansion. <br />201503851 <br />A. Tenant shall have the option to expand the building or to erect or construct <br />additional buildings or structures on the Demised Premises, or any portion thereof, at <br />any time during the term of the Lease or any extensions thereto (the "Expansion "). <br />B. Should Tenant exercise its option as stated in the Lease and as restated <br />and summarized hereinabove and elect to construct the Expansion, Tenant shall have <br />the right to construct improvements at Tenant's expense in accordance with the <br />requirements for alterations and additions set forth in the Lease. In the event that <br />Tenant constructs such improvements, said improvements shall become a part of the <br />Demised Premises as of the date Tenant shall open such expansion area for business <br />with the public. <br />Paragraphs 3, 4, 5, and 6 (and as more fully set forth in Sections 8.1, 8.2, 8.3, <br />8.4 and 8.5 of the Lease) shall constitute covenants which shall run with the land in <br />accordance with the terms of the Lease, so long as the Lease is in effect. <br />7. Right to Close Store. Landlord agrees that nothing in the Lease shall be <br />construed as compelling Tenant to conduct or operate or continue operations of any <br />business whatsoever in or upon the Demised Premises, and that Tenant shall have the <br />right and privilege of closing any business in or upon the Demised Premises at any <br />time, provided Tenant shall continue to pay the minimum monthly rental and to make all <br />other payments and to perform all other obligations required by the Lease to be paid or <br />performed by Tenant. <br />8. Assignment and Subletting. Tenant shall have the right to assign or <br />transfer the Lease or to underlet or sublet the whole or any part of the Demised <br />Premises. Tenant and each of its subtenants shall have the right to sublet, license or <br />grant concessions to others for the operation of any particular department of Tenant's or <br />subtenant's business to operate on the Demised Premises. Notwithstanding any <br />assignment or subletting, Tenant shall nevertheless remain liable to Landlord under the <br />Lease for the full payment of rent, and for the performance of all other covenants to be <br />performed by Tenant under the Lease, for the remainder of the Term in which such <br />assignment or subletting is made and all extensions thereof. <br />Landlord shall have the right to sell, convey, transfer or assign all or any part of <br />its interest in the real property and the buildings of which the Demised Premises are a <br />part or its interest in the Lease. Provided that the assignee or transferee of Landlord's <br />interest in the real property or its interest in the Lease shall execute an agreement <br />3 <br />
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