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2040 Wayzata Boulevard West - 34-118-23-21-0036 - (Orono HRA)
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2040 Wayzata Blvd Land Use - Dunbar
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Staff Memos & Correspondence - File Cabinet 1
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Dunbar Development
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Last modified
8/22/2023 4:55:41 PM
Creation date
10/7/2021 11:23:22 AM
Metadata
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x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
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9.2 Termination. If an uncured Event of Default exists under this Lease, then <br /> Landlord may, subject to Section 9.5 hereof, exercise one or more of the following remedies <br /> in addition to any other rights and remedies provided at law or in equity: <br /> (1) Landlord may terminate this Lease by written notice to Tenant and may <br /> forthwith repossess the Development and recover as damages the amounts <br /> provided in Section 9.3, or <br /> (2) Landlord may terminate Tenant's right of possession and repossess the <br /> Development without demand or notice of any kind and without terminating <br /> this Lease, in which event Landlord may (but will not be obligated to) relet all <br /> or any part of the Development or any part thereof for the account of Tenant <br /> for such rent and upon such terms as Landlord deems advisable and may make <br /> any changes, additions, improvements, redecorations and repairs to the <br /> Development as Landlord deems advisable without affecting Tenant's liability <br /> under this Lease. <br /> 9.3 Payments. If pursuant to Section 9.2 this Lease is terminated or Landlord <br /> terminates Tenant's right of possession and repossesses the Development, Tenant shall pay to <br /> Landlord on demand the sum of: <br /> (1) all unpaid Rent owing at the time of termination or repossession, as the <br /> case may be, <br /> (2) all expenses (together with interest thereon at a rate of twelve percent <br /> (12%) per annum from the date paid by Landlord) incurred by Landlord in <br /> terminating, repossessing and reletting including but not limited to costs of <br /> changes, additions, improvements, redecorations and repairs, brokerage and <br /> legal fees, and the collection of Rent, and <br /> (3) any deficiency between the Rent, when due in accordance with this <br /> Lease, for the remainder of the Term and the payments, if any, received by <br /> Landlord from any reletting of the Development or portions thereof. <br /> 9.4 Injunctive Relief. If an uncured Event of Default exists under this Lease, <br /> Landlord shall have the right, in addition to any remedy available to Landlord under Section <br /> 9.2, to institute from time to time an action or actions for injunctive and/or other equitable <br /> relief. <br /> 9.5 Forbearance. If there is a Mortgage on Tenant's interest in this Lease or the <br /> Development Property, Landlord will not terminate this Lease or Tenant's right of possession <br /> of the Development Property pursuant to Section 9.2, if Holder or any purchaser or transferee <br /> of Tenant's interest in this Lease or the Development by reason of foreclosure or other <br /> proceedings or by deed or assignment in lieu of such proceedings (or an assignee of Holder <br /> -11- <br />
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