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99106375
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Last modified
3/13/2012 6:13:40 PM
Creation date
10/20/2005 11:47:33 PM
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DEEDS
Inst Number
99106375
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�, t. <br /> 99 106375 <br /> 4. Title to Improvements: The Ground Lease provides as follows: <br /> 8.2 Fee title to all improvements constructed by Tenant and <br /> located on the Leased Premises, together with all �dditions, alterations and <br /> improvements thereto, even though a part of the realty, shall be and remain in <br /> Tenant during the term of this Ground Lease. Upon the termination of this <br /> Ground Lease, fee title to all improvements then located on the Leased Premises, <br /> together with all additions, alterations and improvements thereto, shall pass to and <br /> vest in Landlord. <br /> 8.3 Tenant may sell any improvements located on the Leased <br /> Premises, together with all additions, alterations and improvements thereto, to a <br /> third party subject, however, to the terms of this Ground Lease. Tenant shall <br /> provide Landlord with written notice of such sale, together with the address of the <br /> transferee for purposes of Article 16 (Notices) of the Ground Lease, within <br /> fifteen (15) days following the closing of the sale. <br /> 5. Compliance with Operating Documents and Applicable Laws. The Ground <br /> Lease provides as follows: <br /> 5.1 Landlord and Tenant each agree to perform their respective <br /> obligations set forth in the Operating Documents [including the Develdpment <br /> Agreement attached to the Ground Lease and this Memorandum as Exhibit "B," <br /> the Declaration of Restrictions and Grant of Easements ("Declaration"), the <br /> Common Area Maintenance Agreement ("CAMA") and the Covenant Against <br /> Certain Uses, all dated concurrently with this Memorandum and recorded against <br /> the Shopping Center]. Tenant shall fulfill the obligations, and enjoy the benefits, <br /> of the Owner of Parcel2 under each of the Operating Documents, including the <br /> rights and obligations of Article 11 of the CAMA relating to an Owner's election <br /> to Self-Maintain (as defined in the CAMA) its own Parcel. <br /> 5.2 Any default by Landlord or Tenant under any of the <br /> Operating Documents shall constitute a default under this Ground Lease subject to <br /> all of the rights and remedies set forth in Article 15 (Default) hereof, including, <br /> without limitation, the right to deduct from Annual Rent any costs incurred by <br /> Tenant to perform Landlord's obligations under the Operating Documents. <br /> 5.3 Landlord's and Tenant's execution of the Ground Lease <br /> constitutes their execution of the Development Agreement and their agreement to <br /> enter into the CAMA, Declaration, and Covenant Regarding Certain Uses. <br /> (Bracketed Material Added.) <br /> 6. General Provisions: The Ground Lease provides as follows: <br /> 24.1 All of the provisions contained in this Ground Lease shall <br /> be binding upon and inure to the benefit of the heirs, personal representatives, <br /> successors and assigns of the parties hereto. <br /> 24.2 Each easement, covenant and restriction on a Parcel shall <br /> be a burden on that Parcel, shall be appurtenant to and for the benefit of the other <br /> Parcels and each part thereof, shall run with the land and shall be binding upon the <br /> parties, their heirs, personal representatives, successors and assigns, and upon any <br /> person acquiring a Parcel, or any portion thereof, or any interest therein, whether <br /> by operation of law or otherwise. <br /> 24.3 In the event of any violation or threatened violation by any <br /> person of any of the easements, covenants or restrictions contained in this Ground <br /> Lease, Landlord and Tenant shall each have the right to enjoin such violation or <br /> 2 <br />
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