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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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or consented to by Tenant or arising from the failure of Tenant to perform or <br />observe by its agreements under this Lease, <br />(5) this Lease shall automatically terminate on closing, <br />(6) Tenant shall reimburse Landlord for all reasonable out of pocket costs <br />and expenses incurred by Landlord in connection with the conveyance. <br />2.6 Title to Improvements. Title to the Improvements hereafter erected or located <br />on the Development Property by or on behalf of the Tenant shall remain the property of <br />Tenant, except that if (1) Tenant does not purchase the Development Property pursuant to <br />Section 2.5 of this Lease, all Improvements located on the Development Property on the <br />Termination Date shall become the property of Landlord, or (2) Landlord terminates this <br />Lease pursuant to Section 9.2(1) hereof, then Landlord may repossess the Development, as <br />provided in said Section 9.2(1). <br />ARTICLE 3 <br />199aNI <br />3.1 Rent. Tenant shall pay Rent to Landlord on of each calendar year <br />until the Termination Date in the amount of $1. <br />3.2 Net Lease. It is the intention and purpose of Landlord and Tenant that this <br />Lease shall be a "Net Lease" to Landlord. All costs and expenses of whatever character or <br />kind, general and special, ordinary and extraordinary, foreseeable or unforeseeable, and of <br />every kind and nature whatsoever that may be necessary in or about the operation of the <br />Improvements shall be the responsibility of Tenant. <br />3.3 Manner of Payment. Rent payable to Landlord shall be paid to Landlord in <br />immediately available funds of the United States of America at the office of Landlord set out <br />in Section 9.1 or at such place and to such party as Landlord may from time to time <br />designate. Except as otherwise provided, Rent that has accrued prior to the expiration or <br />earlier termination of this Lease shall be absolutely net to Landlord throughout the Term <br />without offset or deduction. Tenant's obligation to pay Rent that has accrued prior to the <br />expiration or earlier termination of this Lease shall survive the expiration or earlier <br />termination of this Lease. <br />ie <br />
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