AG 2007 06 18 - Laserfiche WebLink

Home Browse Search

In the event Sublessor fails to deliver to Subtenant a Landlord's Notice within the required 45 business day period as to whether or not the damage can be repaired within the Restoration Period, Tenant shall have the right any time after the expiration of the 45 business day notice period to terminate this Lease as of the date of the casualty. 18. Condemnation. If (i) all or a substantial portion of the Buiiding or the Premises, and/or (ii) so much of the parking area, means of access, or the Land such that the remaining portion(s) materially and adversely affect SubtenanYs use, is taken for any public or quasi-public use by right of eminent domain or otherwise (including a sale in lieu of condemnation), such that Subtenant can no longer conduct its business at the Premises on a reasonable and prudent basis, Subtenant may terminate this Sublease by giving written notice of termination to Sublessor within 90 days afrer such taking. In such event, this SubleaSe shall terminate as of the date of such taking (but Subtenant shall be afforded a reasonabl~ period of time (not to exceed 30 days) to vacate the Premises). All proceeds from any caking or condemnation of the Building, Land and/or Premises shall belong to and be paid to Sublessor. Nothing contained herein, however, shall prevent Subtenant from seeking a separate award from the condemning authority for any loss of Subtenant's personal property and equipment, moving expenses, leasehold interests, or other losses relating to Subtenant's business so long as such separate award shall not result in a reduction of proceeds payable to Sublessor. 19. Force Maieure. If either Sublessor or Subtenant is delayed or prevented from completing the performance of any obligation under this Sublease by reason of accident, fire, act of God, public enemy, injunction, riot, strike, lockout, insurrection, waz, court order, requisition or order of governmental body or authority, inability to procure labor or materials from normally available sources, or by any other cause without its fault and beyond its reasonable control (financial inability excepted), completion will be excused for the period of such delay and the date of completion wiil be extended for the period of such delay provided notice of the occurrence or encountering of such cause is given to the other party within lb business days after such occurrence or encounter and notice of the duration of such cause is given within 10 business days after the cessation of such cause. 20. Subordination/Non-Disturbance. Subtenant agrees that this Sublease is subject and subordinate to the terms'rand conditions of the lease by and between Prime Lessor and Kannapolis Land, Inc., including without limitation, all terms and conditions pertaining to all mortgages which rpay now or hereafter affect or encumber all ar any portion of the Land. Upon request of ~ablessor, Subtenant shall execute and deliver any agreement subordinating this Sublease and Subtenant's interest in the Premises to any mortgage upon the Land, provided that the holder of the mortgage shall agree in writing not to disturb Subtenant's tenancy if there is no Subtenant default hereunder. Subtenant shall, from time to time, upon ten (10) days prior written request from Sublessor, cause to be executed, acknowledged and delivered a certificate stating this Sublease is in full force and effect, the amount of Rent, the dates to which Rent has been paid and stating that, to the Irnowledge of the sigper of such certificate, either that no default exists under this Sublease or specifying each such default of which the signer has knowledge. Generally, so long as Subtenant is not in default hereunder, any Land mortgagee or any purchaser at ~ ~ ~ `~