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2008-00332 Contract
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2008-00332 Contract
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Last modified
1/28/2011 2:48:23 AM
Creation date
8/24/2010 12:56:49 PM
Metadata
Fields
Template:
PW_Operating
PW_Document_Type_ Operating
Contracts
Fiscal_Year
2008
PW_Division
Administration
GL_Fund
131
GL_ORG
8910
Identification_Number
2008100520
COE_Contract_Number
2008-00332
External_View
No
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period and thereafter proceeds in good faith and with reasonable diligence <br />to effect compliance as soon as possible. <br />16.2 Legal Remedies. <br />In case of default as described in Section 16.1, Landlord shall have the right to the <br />following remedies which are intended to be cumulative and in addition to any other <br />remedies provided under applicable law: <br />(a) Landlord may at its option terminate the Lease by notice to Tenant. With or <br />without termination, Landlord may retake possession of the Leased <br />Premises and may use or relet the Leased Premises without accepting <br />surrender or waiving the right to damages. Following such retaking of <br />possession, efforts by Landlord to relet the Leased Premises shall be <br />sufficient if Landlord uses reasonable and good faith efforts for finding <br />tenants for the space at rates not less than the current rates for other <br />comparable space in the Building. If Landlord has other vacant space in the <br />Building, prospective tenants may be placed in such other space without <br />prejudice to Landlord's claim to damages or loss of rentals from Tenant. <br />(b) Landlord may recover all damages caused by Tenant's default which shall <br />include an amount equal to rentals lost because of the default, lease <br />commissions paid for this Lease, and the unamortized cost of any Tenant <br />Improvement installed by Landlord to meet Tenant's special requirements. <br />Landlord may sue periodically to recover damages as they occur throughout <br />the Term, and no action for accrued damages shall bar a later action for <br />damages subsequently accruing. Landlord may elect in any one action to <br />recover accrued damages plus damages attributable to the remaining Term <br />of the Lease. Such damages shall be measured by the difference between <br />the Monthly Base Rent under this Lease and the reasonable rental value of <br />the Leased Premises for the remainder of the Term discounted to the time <br />of judgment at the prevailing interest rate on judgments. <br />(c) Landlord may make any payment or perform any obligation which Tenant <br />has failed to perform, in which case Landlord shall be entitled to recover <br />from Tenant upon demand all amounts so expended, plus interest from the <br />date of the expenditure at the rate of one and one-half percent (1.5%) per <br />month. Any such payment or performance by Landlord shall not waive <br />Tenant's default. <br />16.3 Legal Expenses. <br />If either party is required to bring or maintain any action (including assertion of any <br />counterclaim or cross-claim, or claim in a proceeding in bankruptcy, receivership or <br />any other proceeding instituted by a party hereto or by others), or otherwise refers <br />this Lease to an attorney for the enforcement of any of the covenants, terms or <br />conditions of this Lease, the prevailing party in such action shall, in addition to all <br />other payments required herein, receive from the other all the costs incurred by the <br />prevailing party including reasonable attorneys' fees which the prevailing party <br />incurred on any appeal. <br />Lease Agreement - 13 Please Initiaa <br />ndlord TeCnaf~t <br />
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