Ordinance 1858-92 - Laserfiche WebLink

ARTICLE XI : EMINENT DOMAIN 11. 1 Eminent Domain Proceedings Prior to Payment Obligation Commencement Date. Prior to the Payment Obligation Commencement Date as defined in the Lease, the following provisions shall apply with respect to eminent domain proceedings: (a) Total Taking. If all of the Leased Premises are taken by eminent domain, this Ground Lease shall terminate as of the date Lessee and/or City, as applicable, is required to vacate the Leased Premises and the City shall have no further obligation hereunder. (b) Partial Taking. If a taking of any part of the I,�eased Premises by eminent domain renders the Leased Premises un- suitable, in the judgment of the City, for the construction of the Improvements, or following construction of the Improvements the use and occupancy of same, this Ground Lease may, at the option of the City, be terminated as of the date when Lessee and/or City, as applicable, is required to vacate the portion of the Leased Premises so taken, by written notice given to Lessee not more than thirty (30) days after City receives notice of the taking. (c) Awards. In any proceeding whereby all or part of the Leased Premises are taken by eminent domain, whether or not City elects to terminate this Ground Lease, all of the condemnation award shall be paid to City, except that the Lessee shall be entitled to that portion of the award, if any, made in compensation for the value of the Improvements on the Leased Premises for which Lessee has not previously received compensation from the City. 11. 2 Eminent Domain Proceedings Following Payment Obligation Date. From and after the Payment Obligation Commencement Date, the following provisions shall apply with respect to eminent domain proceedings: (a) Total Taking. If all of the Leased Premises are taken by eminent domain, this Ground Lease shall terminate as of the date the City defeases its obligations under the Lease. (b) Partial Taking. If there is a partial taking of the Leased Premises by eminent domain, this Ground Lease shall not terminate and there shall be no abatement of Lease Payments otherwise payable by the City hereunder and the City may either retain any condemnation proceeds or apply them to repair, rebuild or restore all or any portion of the Improvements that shall have been taken as nearly as practicable in full compliance with all legal requirements and to the same condition, character and at least equal value and utility to that existing prior to such taking. A-10 KR172 92/01/27