Laserfiche WebLink
Tenant with respect to the Premises or the Building,(b)Tenant is not relying on any representations or <br /> warranties by any person regarding the Premises or the Building, and (c) except as provided in this <br /> Lease,Landlord has no obligation to construct additional improvements to the Premises or the Property. <br /> 1.2. Initial Term. The Initial Term will be for one hundred and twenty (120) full <br /> consecutive months (plus the partial month in which the Initial Term commences, if applicable), <br /> commencing on the Commencement Date(defined below). <br /> 1.3. Inspection of Premises, Governmental Approvals. This Lease is expressly <br /> contingent upon Tenant's approval of the Premises. Tenant shall have a period of sixty (60) days <br /> beginning on the Effective Date (the "Inspection Period") to inspect the Premises and determine <br /> whether the Premises are suitable for Tenant's proposed use. If Tenant determines that the Premises <br /> are not satisfactory due to licensing,zoning,building permits,hazardous materials,or any other reason, <br /> then Tenant shall have the right to terminate this Lease by giving written notice to Landlord before the <br /> end of the Inspection Period, whereupon this Lease shall terminate, and neither Party shall have any <br /> further rights or obligations hereunder as of the date of such notice. At Tenant's request,and in advance <br /> of executing this Lease, Landlord will provide reasonable documentation and reports relating to the <br /> Building and the Premises including but not limited to Building's Certificate of Occupancy, fire <br /> equipment inspection reports and reports for fire sprinklers and alarm systems. <br /> 1.4. Everett Station. Tenant acknowledges that Everett Station will be operated <br /> and maintained by Landlord as a transit station. Tenant is solely responsible for determining whether <br /> its provision of Tuition-Free Education and Services is compatible with Everett Station, including <br /> without limitation the fact that Everett Station is open to the general public and is a multi-modal <br /> transportation site. <br /> 1.5. Commencement, Option to Extend, and Termination. The Lease commences <br /> on April 1, 2022 (the "Commencement Date") and terminates at 11:59 p.m. on June 30, 2032 (the <br /> "Termination Date") unless otherwise earlier terminated as provided in this Lease. Upon reasonable <br /> request, Landlord shall provide Tenant access to the Premises before the Commencement Date to <br /> coordinate and plan Tenant's Work(defined in Section 2.1), so long as Tenant has provided evidence <br /> of insurance under Section 13 below. If Tenant continues to provide the Tuition-Free Education and <br /> Services at the Property and is not in default beyond any applicable cure or grace period hereunder, <br /> then Tenant shall have the right to extend the term of this Lease for an additional five(5)-year period, <br /> on the same terms and conditions of this Lease, by giving Landlord at least six (6) months' written <br /> notice prior to the expiration of the existing term. Upon the Commencement Date, Landlord shall <br /> deliver vacant possession of the Premises in broom clean condition to Tenant with keys and all utilities <br /> in working order ready for Tenant to commence Tenant's Work(defined below). Additionally,Tenant <br /> shall have the right to terminate this Lease before the scheduled termination date(as the same may be <br /> extended)by giving at least ninety(90)days' advance written notice to Landlord. <br /> 1.5.1. Landlord Early Termination Right. If Landlord or another related government <br /> entity requires use of the Premises for legitimate transit purposes, Landlord has the right to terminate <br /> this Lease before the scheduled termination date by giving Tenant at least nine (9) months' advance <br /> written notice. Upon early termination of this Lease by Landlord under this Section 1.5.1, then (A) <br /> Landlord shall provide Tenant with a mutually agreed-upon alternative building or space to provide the <br /> Tuition-Free Education and Services that is similar or as good as the Premises ("Alternative <br /> Premises"); (B) Landlord will pay all costs related to Tenant's relocation including but not limited to <br /> costs incurred to bring the Alternative Premises into the same or better condition than the Premises, all <br /> moving costs, and other related costs;and(C)if Landlord is unable to provide Tenant with a mutually <br /> 2 <br />