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86103283
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86103283
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Last modified
10/18/2011 12:24:21 PM
Creation date
3/31/2008 2:38:30 PM
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DEEDS
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86103283
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86- -10328 <br />(i) The unamortized portion of the Rent which shall be <br />calculated as the amount of $72,250.00 (which is the Rent on <br />Lot 2 divided by 792'' months which is 66 years) per month <br />ber um of months remaining on the Lease at the <br />times t h <br />e n <br />time the Option is exercised assuming a Termination Date of <br />June 1, 2052; plus <br />(ii) the Termination Payment as defined in Article XI. <br />Section 14.2. Trust. If either Lot 2 or Lot 3 is owned by <br />more than one person, the multiple owners of each Lot agree to <br />form a trust ( "Trust ") to make decisions under this Article as <br />one owner. A majority interest in the Trust shall govern the <br />decisions and actions of the Trust of that Lot under the provi- <br />sions of this Article. <br />ARTICLE XV <br />DAMAGE OR DESTRUCTION <br />Section 15.1. Repair of Damage. If the Parking Garage is <br />damaged or destroyed by fire or other casualty covered by the <br />property insurance coverage described in Section 9.1, Landlord <br />shall commence repair or restoration within ninety days of such <br />damage or destruction and shall diligently pursue such repair and <br />restoration to completion unless the Lease on Lot 2 is terminated <br />or modified as provided herein. Landlord shall pay the cost of <br />repair to any damage or destruction of the Parking Garage. <br />Tenant shall vacate such portion of the Parking Garage as Land- <br />lord reasonably requires to enable Landlord to repair the Parking <br />Garage. If the Parking Lot is damaged or destroyed by fire or <br />other casualty covered by the property insurance described in <br />Section 9.1, Tenant of Lot 1, at its expense, shall commence <br />repair or restoration within ninety (90) days of such damage and <br />-36- <br />IN <br />U <br />_.._I <br />
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