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79005190
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Last modified
1/13/2010 3:45:29 AM
Creation date
1/13/2010 3:45:03 AM
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DEEDS
Inst Number
79005190
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<br />ARTICLE X <br />CONDEMNATION <br />Section 10.1 If during the life of this Sublease title <br />to subs t antiaily all of the Project be condemned by any authority <br />having the power of eminent domain, this Sublease shad (except <br />as to tree following provisions of this Article) terminate on the <br />' date pas session of substantially all of the Project is required <br />to be surrendered to the c-ondemning authority. A condemnation <br />which, i n Sublessor's judgment and in the judgment of Sublessee, <br />tenders the Praject untenantable or substantially impairs the <br />efficient utilization of the Project by Sublessee, concurred in by <br />the Auth©rity as described in the Lease shall be deemed a c~ndem- <br />nation o f title to substantially all of the Project. <br />Section 10.2 As provided in the Lease, awards received <br />from the: condemnation during the life of this Sublease, and before <br />the Bonds and interest thereon have been paid in fu12, of title to <br />substan Lially all of the Project shall, when received, become the <br />absolute property of Authority, and Sublessee hereby assigns and <br />transfe ~s to Authority any and all awards granted in connection <br />with such condemnation, which, after deducting all attorney's fees <br />and ath~ r exgenses and costs incurred by Authority in connection <br />wit__ summa, sos~~~~u~a~~~-on, she 1 be fay hwitr d_1_ d and pa_ over <br />by the Authority to the Trustee for application by it in accordance <br />with the previsions of the Resolution. If the funds then head by <br />the Trustee are insufficient in amount for the purpose of paying <br />all principal and interest accrued on the Bonds and all casts and <br />expenses and gremium, if any, in connection with the call, redemp- <br />tion and payment of all outstanding Bands, Sublesee shall be obli- <br />gated to pay, and it does hereby covenant and agree to pay. or <br />cause t:e3 be paid to the Trustee as additional consideration, upon <br />demand therefor, such €urther sums of money, in cash, as may be <br />sequirec3 fos such purposes. <br />Section 10.3 All awards received from the condemnation <br />during the life of this Sublease, after the Bonds and interest <br />as <br />
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