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201901176
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201901176
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Last modified
12/9/2019 6:40:03 PM
Creation date
2/28/2019 4:07:40 PM
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DEEDS
Inst Number
201901176
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201901176 <br />A. Description of Premises. Pursuant to the Lease, Lessor did lease, rent, let <br />and demise unto Lessee, and Lessee did take, accept, hire and lease from Lessor Lessor <br />hereby leases to Lessee, and Lessee hereby leases from Lessor, the Land, together with <br />the multi -story turnkey hospital (the "Hospital") to be constructed on the Land in <br />accordance with the Approved Plans (as defined in the Work Letter attached to the Lease) <br />and the exterior improvements to the Land, including without limitation, driveways, <br />parking areas, sidewalks, bicycle path, lawns and landscaped areas, and similar exterior <br />areas, all as further described in the Approved Plans (the "Exterior Improvements"). The <br />Land, the Hospital, and the Exterior Improvements are hereinafter referred to collectively <br />as the "Premises". <br />B. Term of Lease. The term of the Lease (the "Term") shall commence on <br />the date that is 60 days after Lessor delivers possession to Lessee of the Substantially <br />Completed (as defined in the Lease) Hospital and Exterior Improvements (the <br />"Commencement Date"). The Lease Term shall end at 11:59 p.m. local time on that date, <br />which is the calendar day before that date that is twenty-five (25) years after the <br />Commencement Date, unless extended or sooner terminated as provided in the Lease (the <br />"Expiration Date"), including without limitation any Renewal Term as defined in the <br />Lease. <br />C. Base Rent. Lessee shall and hereby agrees to pay Lessor annual base rent <br />in the amount of the Lessor Component, plus Debt Service Rent, plus the Construction <br />Interest and Cost Component (if any), plus the Refinance Cost Component (if any) <br />(collectively, "Base Rent"), in legal tender of the United States of America, and without <br />demand, deduction, or set-off. <br />D. Use of Premises. The Premises shall be occupied and used by Lessee only <br />for the purpose of conducting therein the business of a hospital and all uses reasonably <br />incidental thereto. Incidental uses shall include installation and use of a helicopter <br />landing area, either on the roof structure or elsewhere on the Land, provided the <br />construction and use thereof complies with all applicable governmental laws. Lessee <br />shall use and occupy the Premises in accordance with all governmental laws, statutes, <br />orders, ordinances, rules and regulations of any governmental authority with jurisdiction <br />affecting the Premises , including, without limitation, applicable zoning ordinances and <br />hospital licensing requirements. Lessee shall not use, or allow the Premises to be used, <br />for any purpose other than as specified herein and shall not use or permit the Premises to <br />be used in violation of any certificate of occupancy applicable to the Premises. <br />2. <br />
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