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Declaration of Restricitive Covenants
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Declaration of Restricitive Covenants
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Last modified
8/22/2023 4:55:41 PM
Creation date
10/11/2021 11:36:13 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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Updated
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Tenant's receipt of written notice from Landlord stating that such payment was <br /> not made; or <br /> (2) If Tenant shall have failed to perform any of the other covenants, terms, <br /> conditions or provisions of this Lease or any of its obligations under the <br /> Development Agreement within sixty (60) days after Tenant's receipt of <br /> written notice specifying such failure; provided, however, with respect to those <br /> failures which cannot with due diligence be cured within said 60-day period, <br /> Tenant shall not be deemed to be in default hereunder if Tenant commences to <br /> cure such default within such 60-day period and thereafter continues the curing <br /> of such default with all due diligence; <br /> 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 hereof, 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 /> -11- <br />
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