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Ordinance 1858-92
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Ordinance 1858-92
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Ordinances
Ordinance Number
1858-92
Date
2/12/1992
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additional rent or additional sums of money to be paid by Lessee <br /> under this Ground Lease, such unpaid amounts shall bear interest <br /> from the due date thereof until paid at the rate of eighteen <br /> percent (18%) per annum. <br /> 19.4 Entire Agreement. This Ground Lease, any exhibits or <br /> attachments hereto and forming a part hereof, the Construction <br /> Contract (including Amendment No. 1 thereto and all other <br /> amendments) and the Lease set forth the entire agreement of City <br /> and Lessee concerning the Leased Premises, and there are no other <br /> agreements or understandings, oral or written, between City and <br /> Lessee. Any subsequent modification of this Ground Lease shall <br /> be binding upon City and Lessee only if reduced to writing and <br /> signed by the party intended to be bound. <br /> 19. 5 Partial Invalidity. If any term, covenant or <br /> condition of this Ground Lease or the application thereof to any <br /> person or circumstance shall, to any extent, be invalid or <br /> unenforceable, excluding the terms and conditions of <br /> Article XVIII hereto, the remainder of this Ground Lease, or the <br /> application of such term, covenant or condition to persons or <br /> circumstances other than those as to which it is held invalid or <br /> unenforceable, shall not be affected thereby and each term, <br /> covenant or condition of this Ground Lease shall be valid and be <br /> enforced to the fullest extent permitted by law. <br /> 19. 6 Recording. Lessee shall not record this Ground Lease <br /> without the written consent of City; however, upon the request of <br /> either party hereto the other party shall join in the execution <br /> of a memorandum or so-called "short form" of this Ground Lease <br /> for the purposes of recordation. Said memorandum or short form <br /> of this Ground Lease shall describe the parties, the Leased <br /> Premises and the term of Ground Lease and the Lease and shall <br /> incorporate this Ground Lease and the Lease by reference. <br /> 19.7 No Merger. In no event shall (a) the leasehold <br /> interest, estate or rights of Lessee hereunder, or (b) the rights <br /> of the holder of any Leasehold Mortgage upon Le33ce'3 rights <br /> under thi3 Ground Lea3c or the Lease, or (c) the leasehold <br /> interest, estate or rights of the sublessee under the Lease, <br /> merge with any interest, estate or rights of City as the fee <br /> owner of the Leased Premises and as the lessor under this Ground <br /> Lease, it being understood that such leasehold interest, estate <br /> and rights of Lessee hcrcundcr, and of the holder of any <br /> Leasehold Mortgage upon Lessee's rights under thi3 Lease, and of <br /> the leasehold interest, estate and rights of City as sublessee <br /> under the Lease, shall be deemed to be separate and distinct from <br /> City's interest, estate and rights as fee owner of and lessor <br /> under the Ground Lease in or to the Leased Premises, and as <br /> lessor under this Ground Lease notwithstanding that any such <br /> interests, estates or rights shall at any time or times be held <br /> by or vested in the same person, corporation or other entity. <br /> A-17 KR172 92/01/27 <br />
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