Reso 1996-031 to 035 - Laserfiche WebLink

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foregoing provisions shall be subject, as respects any business controlled by governmental regulations in its hours of operation, to the hours of operation so prescribed by such governmental regulations. C. Lessor shall not become or be deemed to be a partner or joint venturer with Lessee by reason of the provisions of this Lease. 14. EARLY ENTRY BY LESSEE Lessee may enter upon the demised premises at any time after the commencement of the term of this lease in order to perform any necessary work in connection with the construction of improvements by Lessee, subject to compliance by Lessee with the requirements of Paragraph 27.B. of this lease. 15. SECURITY DEPOSIT AND BOND A. Upon execution of this lease, Lessee shall deposit with City cash, cashier's check or instrument of security acceptable to the City Attorney, payable to City, in the amount of $25,000. In lieu thereof City may continue to hold the option funds previously paid to the City under the Option Agreement dated September 7, 1995. This security deposit shall be used and applied as hereinafter set forth to guarantee performance of the obligations of Lessee as set forth in Paragraph 8 of this lease. Upon the furnishing to the City of the guaranty required under Subparagraph B hereof, the entire security deposit and all interest earned thereon shall be returned to Lessee. In the event Lessee fails, neglects or refuses to furnish the bond or other satisfactory guaranty required in Subparagraph B hereof within the time required therefor herein, said entire security deposit and all interest earned thereon shall be forfeited to and become the property of City, without deduction, offset or recoupment whatsoever, provided; -however, that any delay in furnishing said bond due to fire, earthquake, war, environmental dispute, strike or other cause beyond the reasonable control of Lessee shall extend the time by which said bond must be furnished by the length of such delay. In the event that the security deposit and all interest earned thereon is forfeited by the Lessee under the provisions of this paragraph, then such amount shall represent liquidated damages, actual damages being impossible and impractical to accurately assess, and neither party shall have any further rights against or liability to the other under this lease. B. Prior to the commencement of construction of the improvements herein required to be constructed by Lessee under Subparagraph A of Paragraph 8, Lessee shall furnish to City, at City's cost, expense and approval an instrument or instruments of security satisfactory to the City Attorney which shall guarantee the completion of the construction of the improvements herein.