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6/4/1980
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6/4/1980
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7/23/2015 11:48:53 AM
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6/11/2015 11:29:09 AM
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
06/04/1980
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the date of signing of this Lease by the parties. <br />18. There are no provisions for liquidated damages nor <br />for prepayment of rent. <br />19. Lessee will provide its own custodial services. <br />20. In the event of damage to the roof to Lessee's <br />portion of the demised premises which is not fully covered by <br />insurance required to be carried by the parties, Lessee shall be <br />responsible for cost of repairs to the roof not covered by in- <br />surance. Similarly, if no insurance is required to cover the cost <br />of such repairs, Lessee shall be responsible for such costs. <br />In the event of damage of failure of the air-conditioning system <br />serving the demised premises, to the extent repairs are not fully <br />covered by insurance, guarantees or warrantees or maintenance <br />agreements, Lessee and Lessor shall be responsible on a proportion- <br />ate and equitable basis for the cost differential to complete the <br />repairs. During the last ten (10) years of the initial term of <br />this Lease, or in the event the option to renew is executed by both <br />parties, in the event of any major repairs not covered by insurance <br />to the roof or air-conditioning system which have an economic life <br />which will extend beyond the initial term, or the option term <br />if exercised, the parties agree to use their best efforts to reach <br />an equitable adjustment as to the value to be attached to the, <br />tenancy by Lessee and Lessee shall be responsible for its equit- <br />able share for the cost of such repairs during the initial term or <br />during the option term if the repairs are necessitated during the <br />option term. The parties, at the time of negotiating the amount <br />of rent to be paid pursuant to the terms of the option shall take <br />into consideration the costpof repair during the initial term, <br />all, or such part of the useful life that is anticipated for the <br />demised premises during the option period,when the rent is <br />established for the option period. <br />IN WITNESS WHEREOF, the parties have set their hands <br />and seals this i day of )z�4-7A-e-_ ,1980 . <br />JUN 41980 -7- BOOK7 <br />ca PAGF. <br />� ` 3I <br />
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