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RDA Agmt 1997 Batarse Family Trust etc
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RDA Agmt 1997 Batarse Family Trust etc
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9/27/2012 4:26:43 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
5/7/1997
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RDA Agmt 1996 Batarse Family Trust etc
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\City Clerk\City Council\Agreements\1996
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7.2 Landlord's Right to Improvements During Term. Landlord shall have the <br /> right to utilize the reader board sign to broadcast City community service messages <br /> with advance approval of Tenant, and at no charge to Landlord, so long as such use <br /> does not interfere with Tenant activities. <br /> 7.3 Landlord's Right to Improvements Upon Termination of Lease. All <br /> improvements on the Premises at the expiration of the term, or any extension thereof, <br /> or sooner termination of this Lease shall, without compensation to Tenant, then <br /> become Landlord's property free and clear of all claims to or against them by Tenant <br /> or any third person, and Tenant shall defend and indemnify Landlord against all <br /> liability and loss arising from such claims or from Landlord's exercise of the rights <br /> conferred by this Section. <br /> 7.4 Tenant's Duty to Remove Fixtures. At the expiration or sooner <br /> termination of the term of this Lease, Landlord may elect to have Tenant remove the <br /> reader board sign or any related improvements. <br /> 8. FINANCING, ASSIGNMENT, SUBLETTING <br /> 8.1 Encumbrance of Leasehold. <br /> • <br /> 8.1.1. Tenant shall have the right, at any time and from time to time <br /> .during the Lease Term, to encumber the leasehold estate created by this Lease by one <br /> Leasehold Deed of Trust securing a loan in an amount not greater than Two Hundred <br /> and Fifty Thousand Dollars ($250,000.00), the proceeds of which must be applied to <br /> financing the purchase of the readerboard sign described herein (the "Permitted <br /> Loan "). The combined term of the Permitted Loan and any extension or renewal.. <br /> thereof shall not exceed ten (10) years, and in any event shall not mature later than <br /> the end of the 11 tit year of the Term. <br /> 8.1.2. If Tenant shall have granted any Leasehold Deed of Trust and if <br /> the beneficiary under such a Leasehold Deed of Trust ( "Beneficiary") shall have given <br /> to Landlord a notice ( "Beneficiary's Notice" ) specifying the name and address of the <br /> Beneficiary, Landlord shall give to the Beneficiary a copy of any and all notices from <br /> time to time given to Tenant by Landlord (including, without limitation, any notice <br /> • <br /> of default) at the same time as and whenever any such notice shall thereafter be given <br /> by Landlord to Tenant, addressed to such Beneficiary at the address last furnished to <br /> Landlord. No such notice of any kind by Landlord shall be deemed to have been <br /> given to Tenant unless and until a copy thereof shall have been so given to the <br /> Automat! Read Board Sign - Ground Lease <br /> Final 5/07/97 Page 10 of 22 <br />
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