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200403219
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Last modified
10/16/2011 2:22:30 PM
Creation date
10/21/2005 12:24:52 AM
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DEEDS
Inst Number
200403219
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200403219 <br />for any use of purpose in violation of any laws or ordinances and Lessee shall keep the Premises <br />and the improvements thereon in a clean condition and in a good state of repair. Lessee agrees to <br />permit Lessor or their designees to examine and show the Premises to prospective purchasers <br />and/or tenants. <br />7. Utilities. Lessee will pay all charges for hookups, maintenance and monthly <br />billings made against the Premises and the improvements thereon for all utilities during the term <br />of this Lease. <br />8. Insurance. Lessee shall maintain and deposit with Lessor during the term of this <br />Lease at Lessee's sole cost and expense (a) policies of fire and extended coverage insurance and <br />insurance against such other hazards as may be required by Lessor on the buildings and all other <br />improvements located on the Premises in such an amount as may be requested by Lessor or its <br />first mortgage lender with loss payable to Lessor, the first mortgage lender and Lessee as their <br />interests may appear; (b) a policy of comprehensive general liability insurance coverage with <br />One Million Dollars ($1,000,000) or such higher amount as maybe required by Lessor's first <br />mortgage lender. All such insurance policies shall be issued by insurance companies acceptable <br />to Lessor and Lessor's first mortgage lender and shall contain all additional terms required by <br />Lessor's first mortgage lender. <br />Any insurance policy covering damage to such real or personal property from fire <br />and/or the hazards covered under an extended coverage endorsement shall contain a waiver of <br />subrogation clause of endorsement under which the insurance company waives its right of <br />subrogation against either party to this agreement and such other clauses and endorsements as <br />may be required by Lessor's first mortgage lender. If Lessee shall, at any time, neglect to <br />maintain the above insurance, Lessor may procure or renew such insurance and the amount so <br />paid therefor, including reasonable expenses, shall be considered to be additional rent due to <br />Lessor from Lessee. <br />9. Fire or Other Casualty. If during the term of this Lease, the Premises shall be <br />so damaged by fire or any other cause except Lessee's negligent or intentional act so as to render <br />the Premises untenantable, the rent shall be abated while the Premises remain untenantable; and <br />in the event of such damage, Lessor shall elect whether to repair the Premises or to cancel this <br />Lease, and shall notify Lessee in writing of its election within sixty (60) days after such damage. <br />In the event Lessor elects to repair the Premises, the work or repair shall begin promptly and <br />shall be carried on without unnecessary delay. In the event Lessor elects not to repair the <br />Premises, the Lease shall be deemed cancelled as of the date of the damage. Such damage shall <br />not extend the Lease term. <br />10. Eminent Domain. If all or substantially all of the Premises shall be appropriated <br />or condemned by any public authority in the exercise of its right of eminent domain, this Lease <br />shall terminate (with respect to only the portion of the Premises condemned) as of the date such <br />taking shall occur. If any taking of any part of the Premises occurs which would render the <br />Premises unsuitable for the business then being conducted by Lessee, then the term of this Lease <br />at the option of Lessee exercised by giving written notice to the Lessor within sixty (60) days <br />after the date of such taking shall terminate as of the date of such taking. In the event of a taking <br />of any part of the Premises which is not extensive enough to render the Premises unsuitable for <br />KC01 DOCS669217.3 <br />
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