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04-24-2017 Council Work Session Packet
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04-24-2017 Council Work Session Packet
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"Lease" means this lease agreement for the Development Property entered into <br />pursuant to the Development Agreement. <br />"Mortgage" means any mortgage or deed of trust on Tenant's interest in this <br />Lease, the Development Property and the Improvements permitted under <br />Article 5 of this Lease. <br />"Permitted Encumbrances" means the matters described in Exhibit C. <br />"Rent" means any amounts due from Tenant to Landlord under the terms of <br />this Lease. <br />"Tenant" means Orono Senior Housing, LLC and its permitted successors and <br />assigns. <br />"Tenant's Equipment" means all movable equipment, furniture and other trade <br />fixtures installed or placed in the Development by or for the account of Tenant <br />or any occupant of the Development. <br />"Term" means the period of time set out in Section 2.4 of this Lease. <br />"Termination Date" means 12100. <br />"Unrelated Third Party" means an individual or entity that is not (i) an <br />individual ("Related Individual") who is an owner or officer of Tenant or a <br />Related Company, (ii) any subsidiary or parent of Tenant (each of which is a <br />"Related Company"), or (iii) a general partnership, limited partnership or <br />limited liability partnership ("Related Partnership") in which a Related <br />Individual or Related Company is a partner, or (iv) a corporation or limited <br />liability corporation in which a Related Individual, Related Company or <br />Related Partnership is an owner, shareholder, officer, member or manager. <br />1.2 Exhibits. The following exhibits are attached to and by this reference <br />made a part of this Lease: <br />(1) "Exhibit A" - Legal Description of the Development Property <br />(2) "Exhibit B" - Permitted Encumbrances <br />y0a <br />
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