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Inst 2003490374
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Inst 2003490374
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Last modified
8/20/2009 2:29:00 PM
Creation date
8/20/2009 2:28:59 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
3/3/2003
Recorded Document Type
Lease
Retention
PERM
Document Relationships
Inst 2003245245
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Inst 2003245246
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Reso 2003-029
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2003
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<br />L <br />or entity, arising out of or in connection with any of the following circumstances: <br />9.7.1 Use of Premise. Use of the Premises in any manner by that party or its agents, employees, <br />invitees, licensees and contractors consistent with the terms of this Lease. <br />9.7.2 Breach of Lease. Any breach of the terms, covenants, or conditions herein contained. <br />10. EMINENT DOMAIN <br />10.1 Total Condemnation. If all of the Premises is condemned by eminent domain, inversely condemned or <br />sold under threat of condemnation for any public orquasi-public use or purpose ("Condemned"), this Lease <br />shall terminate as of the earlier of the date of the condemning authority takes title to or possession of the <br />Premises, and rent shall be calculated as of the date of termination. <br />10.2 Partial Condemnation. If any portion of the Premises is Condemned and such partial condemnation in the <br />reasonable decision of Waste Management materially impairs Waste Management's ability to use the Premises <br />for the uses stated in this Lease, Waste Management shall have the option of terminating this Lease as of the <br />earlier of the date title vests in the condemning authority or as of the date an order of immediate possession is <br />issued and rent shall be calculated as of the date of termination. If such partial condemnation does not <br />materially impair Waste Management's ability to use the Premises in the manner set forth in this Lease, this <br />Lease shall continue in full force and effect provided rent shall be proportionally abated for loss of Premises <br />use as reasonably determined by the parties acting in good faith. <br />10.3 Condemnation Award. The award for the taking of all or a part of the leased Premises under the power of <br />eminent domain or any payment made under threat of the exercise of such power shall be the property of City, <br />whether such award shall be made as compensation for diminution in value of the leasehold or far the taking of <br />the fee, or as severance damages; provided, however, that Waste Management shall be entitled to a separate <br />award for loss of goodwill and loss of or damage to Waste Management's trade fixtures, removable personal <br />property and unamortized Waste Management improvements that have been paid for by Waste Management. <br />For that purpose, the costs of such improvements shall be amortized over the original term of this Lease <br />excluding any options, <br />11. DEFAULT, REMEDIES <br />11.1 Default, Each of the events described in Sections 11.1.1 through 11.1.6 shall be a default and a breach <br />of this Lease. <br />11.1.1 Failure to Perform Covenants. Abandonment of the Premises or of the leasehold estate or <br />failure to perform as required or conditioned by any other covenant or condition of this Lease. <br />11.1.2 Attachment or Other Levy. The subjection of any right or interest of Waste Management to <br />attachment, execution or other levy, or to seizure under legal process, if not released within <br />fifteen (15) days, unless Waste Management is contesting such attachment, execution or <br />other levy in a manner acceptable to City in its reasonable discretion. <br />b22009-1 14 <br />
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