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2015-55 APPROVING LEASE AND BUY-BACK AGREEMENT 1221 E. Condit Street
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2015-55 APPROVING LEASE AND BUY-BACK AGREEMENT 1221 E. Condit Street
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10/23/2015 8:55:23 AM
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10/23/2015 8:55:22 AM
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Resolution/Ordinance
Res Ord Num
2015-55
Res Ord Title
APPROVING LEASE AND BUY-BACK AGREEMENT - 1221 E. CONDIT STREET
Approved Date
10/19/2015
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-9- <br /> practically to the total destruction of the Leased Premises,the proceeds of insurance on the <br /> Leased Premises payable by reason of such destruction shall be paid to the Commission,this <br /> Lease shall terminate and the rent shall be apportioned to the time of the damage. <br /> Notwithstanding, in the event of total destruction of the Leased Premises,the Commission shall <br /> immediately upon receipt of the insurance proceeds pay to the Board and County the full amount <br /> then due and owing to the Board and County in regards to the transfer of the property. In all <br /> other cases where the Leased Premises is damaged by fire or other casualty without the fault or <br /> negligence of the Board and County,the proceeds of insurance on the Leased Premises payable <br /> by reason of such destruction shall be paid to the Commission, the Commission shall repair the <br /> damage with reasonable dispatch and if the damage has rendered the Leased Premises <br /> untenantable,in whole or in part,there shall be an apportionment of the rent until the damage has <br /> been repaired. All repairs by the Commission shall be promptly made with materials of like <br /> quality to the original work. In case of damage by fire or other casualty to the Leased Premises <br /> due to the fault or negligence of the Board and County,this Lease shall continue in full force and <br /> effect, without abatement of rent, and the Board and County shall repair the damage with <br /> reasonable dispatch and to the Commission's reasonable satisfaction. In determining what <br /> constitutes reasonable dispatch, consideration shall be given to delays caused by strikes, <br /> adjustment of insurance, and other causes beyond the party's control. <br /> H. Quiet Enjoyment. Commission warrants that it has full right and power to execute <br /> and perform this Lease and to grant and convey the estate demised herein. The Commission <br /> further warrants that Board and County on payment of the rent and performance of the covenants <br /> herein contained shall peaceably and quietly have, hold and enjoy the Leased Premises and all <br />
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