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Everett Public Facilities District 2/28/2002
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Everett Public Facilities District 2/28/2002
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Last modified
11/1/2024 1:23:57 PM
Creation date
11/1/2024 11:58:10 AM
Metadata
Fields
Template:
Contracts
Contractor's Name
Everett Public Facilities District
Approval Date
2/28/2002
Council Approval Date
2/13/2002
End Date
2/28/2027
Department
Legal
Department Project Manager
Mark Soine/Ned Johnston
Subject / Project Title
Ground Lease
Tracking Number
0004568
Total Compensation
$0.00
Contract Type
Agreement
Contract Subtype
Leases (not Real Property)
Retention Period
6 Years Then Destroy
Imported from EPIC
No
Document Relationships
Everett Public Facilities District 1/24/2007 Amendment 1
(Contract)
Path:
\Documents\City Clerk\Contracts\Agreement\Interlocal Agreements
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charges as necessary to produce revenues sufficient to cure all financial defaults and generally <br /> place the operation of the Regional Center on a sound financial basis; <br /> (c) Taking all lawful measures to renegotiate any contracts, including <br /> the lease and all related agreements with the "anchor tenant"of the Regional Center, as <br /> necessary to produce revenues sufficient to cure all financial defaults and generally place the <br /> operation of the Regional Center on a sound financial basis; <br /> (d) If the Lessor elects to exercise joint operational control of the <br /> Regional Center and any dispute arises between the Lessor and the Lessee over operational <br /> decisions, all such disputes shall be resolved by the unilateral decision of the Lessor. If the <br /> Lessee fails to take any of the foregoing actions, the Lessor shall have the right to take such <br /> actions on the Lessee's behalf. <br /> 10.2.2 Terminate this Lease by giving Lessee sixty(60) days written notice <br /> thereof(with a copy of said notice to holders of any Permitted Debt as provided in Article 11 <br /> hereof), in which event this Lease and the leasehold estate created hereby and all interest of <br /> Lessee and all parties claiming by, through or under Lessee shall, at the option of the Lessor, <br /> terminate upon the effective date of such notice, and Lessor, its agents or representatives, shall <br /> have the right, without further demand or notice, and at Lessor's option, and all while reserving <br /> Lessor's right to seek damages, to: (a) reenter and take possession of the Regional Center, and <br /> subsequently relet, occupy, and/or use the Regional Center, or(b) remove, demolish and/or <br /> dispose of the Regional Center and any and all improvements therein or thereto and bill Lessee <br /> for the cost thereof. <br /> 10.2.3 Terminate Lessee's right to possession of the Regional Center and <br /> enjoyment of the rents, issues and profits therefrom, without terminating this Lease or the <br /> leasehold estate created hereby, reenter and take possession of the Regional Center and remove <br /> all persons and property therefrom, with or without process of law, without being deemed guilty <br /> of any manner of trespass and without prejudice to any remedies for any breaches of covenants <br /> (including the payment of Rent), then existing or thereafter occurring, and lease, manage and <br /> operate the Regional Center and collect the rents, issues and profits therefrom, all for the account <br /> of Lessor for application against and credit to the satisfaction of Lessee's obligations hereunder <br /> the net Rent thus received (after deducting therefrom all reasonable costs and expenses of <br /> repossessing, leasing, managing and operating the Regional Center). If the net Rent so received <br /> by Lessor exceeds the amounts necessary to satisfy all of Lessee's obligations under this Lease, <br /> Lessee shall be entitled to such excess. Lessor shall use reasonable good faith efforts and due <br /> diligence to mitigate, limit and reduce the injury, loss or damages accruing from any such default <br /> of Lessee. <br /> 10.2.4 Cure any such default or any portion thereof for the account of and at <br /> the expense of Lessee either concurrently with, or at any time before or after, the exercise of any <br /> other remedy granted herein or by law, in which event all costs and expenses reasonably paid or <br /> incurred by Lessor in connection with the curing of such default shall be due and payable by <br /> Lessee to Lessor immediately. <br /> 20 <br /> GROUND LEASE COE--EPFD <br />
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