99110984 - Laserfiche WebLink

Browse

99 110984 (fl Maintenance and Repair of the Outlot. (1) The Outlot and any improvements thereon shall be continuously maintained and repaired by the Outlot Owner at its expense, so as to at all times be in a first class condition, free and clear of all debris. The Outlot Owner shall maintain, repair, and replace any lighting fixtures or poles located on the Outlot. If the Outlot Owner fails to so maintain the Outlot and does not cure such default hereunder within seven days of receipt of notice from the Company, the Company shall have the right, but not be obligated, to enter the Outlot and perform such maintenance on behalf of the Outlot Owner. If the Outlot Owner shall not pay to the Company all of the costs incurred by the Company to perform such maintenance within fifteen days of receipt of a statement therefor, the Company shall have a lien on the Outlot in the amount of the statement, which amount shall bear interest at the rate of eighteen percent (18%) per year, or the highest rate permitted by law, whichever is lower, until paid. The lien, if any, shall be filed and enforced and have priority in accordance with Article V hereof. (2) Outlot Owner shall pay the Company, on a monthly, quarterly, or annual basis as invoiced by the Company, for its proportionate share of maintaining and repairing Common Area, including the landscaping, sweeping, repairing the asphalt, and snow removal in the parking area (the "Common Area Maintenance Expenses"). The Outlot Owner's proportionate share of the Common Area Maintenance Expenses shall be 7.33 percent. Notwithstanding the foregoing, costs of replacement of the Common Areas which may be capitalized shall not be included in Common Area Maintenance Expenses. (g) Alterations. After initial construction of the Building and all other structures and improvements on the Outlot in accordance with the plans and specifications approved by the Company, the Outlot Owner shall not alter, remove or add to the exterior or structural components of the Building or construct additional buildings or structures on the Outlot, without the prior written consent of the Company to the plans and specifications for each such alteration, removal, addition or construction. (h) Taxes and Assessments. In the event that the Outlot is not separately assessed for purposes of real estate taxation, the Outlot Owner agrees to obtain, at its cost, such separate tax assessment and the Company agrees to reasonably cooperate therewith. The Outlot Owner agrees to reimburse the Company for its costs and expenses incurred in connection therewith. The Outlot Owner shall pay, or cause to be paid, prior to delinquency, all taxes, assessments and charges levied upon or assessed against the Outlot. If the Outlot Owner fails to pay any such tax, assessment or charge prior to the same becoming delinquent or bearing interest or�penalties, with seven days prior notice from the Company, the Company shall may, but shall not be obligated to, pay any such tax, assessment or charge on behalf of the Outlot Owner. If the Outlot Owner shall not pay to the Company such tax, assessment or charge and all of the costs incurred by the Company in connection therewith within fifteen days of receipt of a statement therefor, the Company shall have a lien on the Outlot in the amount of the statement, which amount shall bear interest at the rate of eighteen percent (18%) per year, or the highest rate 5