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Agmt 2006 Mercy Housing California XXXIII (4)
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Agmt 2006 Mercy Housing California XXXIII (4)
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5/10/2007 1:08:01 PM
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5/10/2007 1:07:32 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
6/19/2006
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PERM
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RDA Reso 2006-003
(Approved by)
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\City Clerk\City Council\Resolutions\2006
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<br />expressly assumes and agrees to be bound by and perform all of Tenant's obligations under this <br />Lease. <br /> <br />ARTICLE XI <br /> <br />LANDLORD'S RIGHT TO PERFORM TENANT'S COVENANTS <br /> <br />11.1 If Tenant shall at any time fail to pay any Imposition or other charge payable by <br />Tenant to a third party as required by this Lease within the time permitted, or to pay for or <br />maintain any of the insurance policies provided for in Section 5.11 of the DDA within the time <br />therein permitted, or to make any other payment or perform any other act on its part to be made <br />or performed hereunder within the time permitted by this Lease, then Landlord, after thirty (30) <br />days' written notice to Tenant and without waiving or releasing Tenant from any obligation of <br />Tenant hereunder, may (but shall not be required to): (i) pay such Imposition or other charge <br />payable by Tenant; (ii) pay for and maintain such insurance policies provided for in Section 5.11 <br />of the DDA; or (iii) make such other payment or perform such other act on Tenant's part to be <br />made or performed under this Lease; and Landlord may enter upon the Property for such purpose <br />and take all such action thereon as may be reasonably necessary therefor. <br /> <br />All sums paid by Landlord and all costs and expense incurred by Landlord in connection <br />with the performance of any such act (together with interest thereon at the Default Rate from the <br />respective dates of Landlord's making of each such payment) shall constitute additional Rent <br />payable by Tenant under this Lease and shall be paid by Tenant to Landlord on demand. The <br />"Default Rate" shall mean interest calculated at an annual rate equal to the rate of interest most <br />recently announced by Bank of America N.T. & S.A. (or its successor bank) at its San Francisco <br />office as its "reference rate" but in no event more than the maximum rate of interest permitted by <br />law. If Bank of America or its successor no longer issues a "reference rate," the most <br />comparable rate of the largest bank with its corporate headquarters in California shall be used. If <br />there is no such bank or comparable rate, then the Default Rate shall be the highest legal rate of <br />interest that may be charged at that time. <br /> <br />ARTICLE XII <br /> <br />REPAIRS, CHANGES, ALTERATIONS AND NEW CONSTRUCTION <br /> <br />12.1 Repairs and Maintenance. Tenant covenants and agrees, throughout the Term, <br />without cost to Landlord, to take good care of the Property and to keep the same in good order <br />and condition. Tenant shall promptly, at Tenant's own cost and expense, make all necessary <br />repairs, interior and exterior, structural and nonstructural, ordinary as well as extraordinary, <br />whether contemplated or not contemplated at the time of execution of this Lease, and shall keep <br />the Property in a well maintained, safe, clean and sanitary condition. The term "repairs" shall <br />include replacements or renewals when necessary, and all such repairs made by Tenant shall be <br />at least equal in quality and class to the original work. Tenant waives any rights created under <br />any law now or hereafter in force to make repairs to the Improvements at Landlord's expense. <br />Tenant shall keep and maintain all portions ofthe Property and the sidewalks adjoining the same <br />in a clean and orderly condition, free of accumulation of dirt, rubbish, and graffiti. From time to <br />time during the Term, upon not less than three (3) days prior notice from Landlord, Landlord <br /> <br />833368-4 <br /> <br />18 <br />
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