Laserfiche WebLink
41. EMINENT DOMAIN <br />Forthwith upon the receipt by City or by Lessee of any notice of the institution of <br />any proceeding for the taking or damaging of the leased premises or any part thereof, <br />by the exercise of any power of condemnation or eminent domain, the party receiving <br />such notice shall promptly give written notice thereof to the other party and to any <br />lending agency holding an encumbrance on the leasehold estate which has given to <br />City written notice of its interests as such and such other parties and each of them, <br />including such lending agency, though not named in the proceedings, may appear, <br />plead and defend each in respect to its own property or interest or that claimed by it <br />in like manner as if named in the complaint. The award shall belong to and be paid <br />to City, except that Lessee shall receive from the award the following: <br />1. Any part of the award attributable to the value of the buildings and <br />permanent improvements and the value of improvements pertaining to <br />realty as defined by Section 1263.205 of the Code of Civil Procedure of <br />the State of California, shall be divided between City and Lessee so that <br />Lessee receives that proportion thereof that the remainder of the <br />unexpired term of the lease bears to the full term of the lease, and City <br />shall receive the balance, providing, however, in no event shall there by <br />payable to Lessee from such award an amount less than that necessary <br />to pay in full any Leasehold Mortgage permitted under the term of this <br />lease. <br />2. Any award payable or attributable to Lessee's fixtures and equipment or <br />improvements which the Lessee has the right to remove from the <br />premises pursuant to the provisions of this lease shall be the property of <br />and shall be payable solely to the Lessee, as well as any award payable <br />for the removal of same; <br />3. Any award or sum payable by reason of relocation expenses or loss of <br />good will shall be payable solely to and shall be the property of Lessee. <br />42. TERMINATION BY CITY <br />Any termination of this lease prior to expiration of the term hereof shall be by <br />resolution of the Council, duly adopted after notice as required herein. <br />43. AGREEMENT IN QUADRUPLICATE <br />This agreement is executed in quadruplicate, each copy of which shall be deemed as <br />original. <br />44. CONCURRENCE BY OTHER AGENCIES <br />It is understood that this lease is not binding on either Lessee or City until approved <br />by State. <br />36 <br />