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Reso 1998-026 to 030
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Reso 1998-026 to 030
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
12/31/1998
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D. Self-help. If (i) Tenant has committed an Event of Default or (ii) <br />Landlord believes that Tenant has committed a Potential Event of Default, and that <br />Landlord's substantial interests in the operation of the Premises would be materially impaired <br />by waiting for the notice and cure periods provided above or an arbitrator's decision, or if <br />Landlord reasonably believes that it can mitigate its damages by acting quickly, then <br />Landlord is entitled, but not obligated, to cure the alleged default at its own expense either <br />(in the case of a Potential Event of Default) prior to the issuance of the Notice of Default, or <br />while the notice, arbitration, or cure periods provided herein are pending. Any amount(s) <br />expended by Landlord in curing or attempting to cure the alleged default including, without <br />limitation, attorneys' fees and disbursements plus interest at the Interest Rate from the date <br />of expenditure or performance by Landlord shall be reimbursed by Tenant to Landlord within <br />fifteen (15) days following Landlord's written request therefor. Landlord may issue or <br />amend its Notice of Default or its claim in an arbitration proceeding for the amounts <br />expended in effecting, or attempting to effect, such cure or mitigating such damages. In the <br />case of a Potential Event of Default, Tenant shall not be liable for the cost of self-help unless <br />the arbitrator finds an Event of Default. <br />E. Appointment of Receiver. Landlord shall have the right to have a <br />receiver appointed to operate the Facility and/or to collect Gross Revenues. Neither the <br />filing of a petition for the appointment of a receiver nor the appointment itself shall constitute <br />an election by Landlord to terminate this Lease. <br />LEASE BETWEEN CITY OF SAN LEANDRO <br />AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 65 <br />2574001\313983.8 <br />
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