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Ordinance 1818-91
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Ordinance 1818-91
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5/9/2017 10:46:32 AM
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Ordinances
Ordinance Number
1818-91
Date
10/2/1991
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22 . 5 Registration. Lessor agrees to maintain books setting <br /> forth complete records of any and all transfers and assignments of <br /> any interests in this Lease. <br /> 22 . 6 Partial Invalidity. If any term, covenant or condition <br /> of this Lease or the application thereof to any person or circum- <br /> stance shall, to any extent, be invalid or unenforceable, the <br /> remainder of this Lease, or the application of such term, covenant <br /> or condition to persons or circumstances other than those as to <br /> which it is held invalid or unenforceable, shall not be affected <br /> thereby and each term, covenant or condition of this Lease shall <br /> be valid and be enforced to the fullest extent permitted by law. <br /> 22 . 7 Recording. Lessor shall not record this Lease without <br /> the written consent of City; however, upon the request of either <br /> party hereto the other party shall join in the execution of a <br /> memorandum or so-called "short form" of this Lease for the purposes <br /> of recordation. Said memorandum or short form of this Lease shall <br /> describe the parties, the Leased Premises and the term of Ground <br /> Lease and the Lease and shall incorporate the Ground Lease and this <br /> Lease by reference. <br /> 22 . 8 Capitalized Terms. Capitalized terms used herein and <br /> not otherwise defined shall have the meanings prescribed in the <br /> Construction Contract and Ground Lease, unless this Lease clearly <br /> indicates otherwise. <br /> 22 . 9 No Merger. In no event shall (a) the leasehold <br /> interest, estate or rights of Lessor as 1lessee under the Ground <br /> Lease or (b) the rights of the holder of any Leasehold Mortgage <br /> upon Lessor's rights as Llessee under the Ground Lease or (c) the <br /> leasehold interest, estate or rights of the City as Lessor under <br /> this Lease, merge with any interest, estate or rights of City as <br /> the fee owner of the Leased Premises and of the City as lessor the <br /> Lessee-under the Ground Lease, and of the City as lessee under this <br /> Lease it being understood that such leasehold interest, estate and <br /> rights of Lcs3cc Lessor (as lessee) under the Ground Lease, and of <br /> the holder of any Leasehold Mortgage upon Lessee's Lessor's rights <br /> (as lessee) under the Ground Lease, and of the leasehold interest, <br /> estate and rights of Lessor City a3 Le33cc under this the Lease, <br /> shall be deemed to be separate and distinct from City's interest, <br /> estate and rights as fee owner of the Land and as lessor Lessor <br /> under the Ground Lease, and as Lessee hereunder in or to the Leased <br /> Premises, notwithstanding that any such interests, estates or <br /> rights shall at any time or times be held by or vested in the same <br /> person, corporation or other entity. <br /> 22 . 10 Governing Law, Time. This Lease and the rights of the <br /> parties hereto shall be governed and construed in accordance with <br /> -25- D0T439 91/09/24 <br />
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