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Congressman Rick Larsen 8/7/2023
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6 Years Then Destroy
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2025
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Congressman Rick Larsen 8/7/2023
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Entry Properties
Last modified
8/11/2023 10:04:29 AM
Creation date
8/11/2023 10:03:32 AM
Metadata
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Template:
Contracts
Contractor's Name
Congressman Rick Larsen
Approval Date
8/7/2023
Council Approval Date
8/2/2023
End Date
1/2/2025
Department
Real Property
Department Project Manager
Darcie Byrd
Subject / Project Title
Lease Agreement 2930 Wetmore Ave Suite 9F
Tracking Number
0003889
Total Compensation
$115,544.40
Contract Type
Real Property
Contract Subtype
Leases
Retention Period
6 Years Then Destroy
Imported from EPIC
No
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notice nor an opportunity to cure and Landlord, at its option, may immediately declare an Event <br /> of Default. <br /> 20. REMEDIES. Upon any Event of Default, Landlord may, in addition to all other rights <br /> and remedies afforded Landlord under this Lease or by law or equity, take any one or more of <br /> the following actions: <br /> (a) Termination of Lease. Terminate this Lease by giving Tenant written <br /> notice, in which event Tenant shall pay to Landlord the sum of(i) all rent accrued under this <br /> Lease through the date of termination, (ii) all other amounts due hereunder, plus interest at the <br /> Default Ratc, and (iii) an amount equal to the total rent that Tenant would have been required <br /> to pay for the remainder of the Term discounted to present value based on the then U.S. <br /> Treasury yield rate for ten-year notes; or <br /> (b) Termination of Possession. Terminate Tenant's right to possess the Leased <br /> Premises without terminating this Lease by giving written notice thereof to Tenant, in which <br /> event Tenant shall pay to Landlord (i) all rent and other amounts accrued under this Lease to the <br /> date of termination of possession, (ii) all amounts due from time to time. If Landlord elects to <br /> proceed under this subsection, Landlord may remove all of Tenant's property from the Leased <br /> Premises and store the same in a public warehouse at a reasonable cost to, and for the account <br /> of, Tenant, without becoming guilty of trespass, or liable for any reasonable loss or damage that <br /> may be occasioned thereby. Landlord shall use commercially reasonable efforts to relet the <br /> Leased Premises on such terms as Landlord in its sole discretion may determine (including a lease <br /> term different from the Term, rental concessions, use of brokers and alterations to, and <br /> improvement of, the Leased Premises); however, Landlord is not obligated to relet the Leased <br /> Premises before leasing other portions of the Building or property and Landlord is not obligated <br /> to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of <br /> Landlord's reasonable, then existing leasing criteria. Landlord shall not be liable for, nor shall <br /> Tenant's obligations under this Lease be diminished because of, Landlord's failure to relet the <br /> Leased Premises or to collect rent due for such reletting. Tenant is not entitled to the excess of <br /> any consideration obtained by reletting over the rent due under this Lease. Reentry by Landlord <br /> in the Leased Premises shall not affect Tenant's obligations under this Lease for the unexpired <br /> Term; rather, Landlord may,from time to time, bring an action against Tenant to collect amounts <br /> due by Tenant, without the necessity of Landlord's waiting until the expiration of the Term. <br /> Unless Landlord delivers written notice to Tenant expressly stating that it has elected to <br /> terminate this Lease, all reasonable actions taken by Landlord to dispossess or exclude Tenant <br /> from the Leased Premises shall be deemed to be taken under this subsection 20(b). If Landlord <br /> elects to proceed under this subsection 20(b), it may at any time elect to terminate this Lease. <br /> Tenant hereby waives all claims for damages that may be caused by Landlord's re-entering and <br /> taking possession of Leased Premises or removing and storing the property of Tenant as provided <br /> in this Lease, and no such re-entry shall be considered or construed to be forcible entry. <br /> 21. HAZARDOUS MATERIALS. <br /> 10 <br />
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