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EXHIBIT 10(1)
CONFIDENTIAL PORTIONS OMITTED
LEGEND: [**] REPRESENTS CONFIDENTIAL MATERIAL OMITTED AND FILED
SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
A REQUEST FOR CONFIDENTIAL TREATMENT
LEASE AGREEMENT
The parties to this Lease Agreement ("Lease"), entered into on
January
28, 2005, between MFB Financial ("Landlord") and May Oberfell
Lorber ("Tenant"),
hereby agree as follows:
1. PREMISES AND PREPARATION.
The Landlord hereby leases to the Tenant and the Tenant leases
from the
Landlord, subject to all of the terms and conditions hereinafter
set forth,
office space as shown on the space plan attached hereto as
"Exhibit B"
containing 17,613 square feet of rentable space (the "Premises")
in the office
building which is commonly known as MFB Plaza, located at 4100
Edison Lakes
Parkway, Mishawaka, Indiana in St. Joseph County (the
"Building").
2. TERM. The term of the Lease of the Premises shall be 180
months
commencing at the time the Premises have been completely built
out and
the space has been turned over to Tenant, which the parties
anticipate
will be late spring/early summer. If the commencement date of
this
Lease is other than the 1st day of the month, then the term of
this
Lease shall be extended through the last day of the final
month.
3. USE. The Premises shall be occupied and used by the Tenant
for
office space and for no other purposes. 4. BASIC RENT.
[Confidential
material omitted from this section and filed separately with
the
Securities and Exchange
Commission pursuant to a request for confidential treatment is
represented by
the symbol [**]. ] The Tenant shall pay to the Landlord as basic
minimum rent
during the initial five year term of the Lease $[**], per month
for 60 months,
which is $[**] per rentable square foot or annual basic rent of
$[**], in
advance, on the first day of each calendar month during the term
of this Lease.
During the second five year term of the Lease the basic rent
shall be increased
to $[**] per square foot or annual basic rent of $[**]. Wherever
the term
rentable square feet is used, this term shall refer to the
square feet being
occupied by Tenant (17,018) plus a load factor of three and
one-half percent (3
1/2%) for a total of 17,613. During the final 5 years of the
Lease the basic
rent shall be increased to $[**] per square foot of rentable
space. The basic
rent together with the additional rent as defined in paragraph 5
hereof are
referred to hereinafter as "Rental". Tenant hereby agrees to pay
the Rental
monthly to Landlord at Landlord's building management office or
at such other
location as Landlord may designate from time to time, without
demand. In the
event of a partial month at the beginning of the term of this
Lease, the Rental
shall be prorated on the basis of a thirty (30) day month. Any
portion of the
Rental or other charges not paid when due shall bear a
delinquency service
charge equal to five (5%) percent of such delinquency. In
addition, the Tenant
shall be charged a Fifty ($50.00) Dollar processing penalty for
any Rental check
that is returned to the Landlord as uncollectible or
insufficient funds. All
Rental and other charges payable by Tenant pursuant to the terms
of this Lease
shall be payable without relief from valuation or appraisement
laws.
5. ADDITIONAL RENT. [Confidential material omitted from this
section
and filed separately with the Securities and Exchange Commission
pursuant to a
request for confidential treatment is represented by the symbol
[**]. ] A.
Subject to the limitations set forth in paragraph C hereunder,
in addition to
the Basic Rent, Tenant shall pay, as Additional Rent, Tenant's
Percentage of the
Operating Cost for the Building in any calendar year. For
purposes of this
Agreement, "Tenant Percentage" shall mean Fifteen and forty one
hundredths
Percent (15.41%). In the event Tenant expands into additional
space under the
Lease, Tenant's Percentage shall be recalculated to account for
such additional
space. B. "Operating Cost," as that term is used herein, shall
consist of all
operating costs of the Building, which shall be computed on the
accrual basis in
accordance with generally accepted accounting principles
consistently applied
and shall consist of all costs and expenses incurred by Landlord
to maintain all
facilities used in the operation of the Building and its
environs of every kind
and nature which Landlord shall pay or become obligated to pay
because of or in
connection with the ownership and operation of the Building,
(but not specific
costs which are separately billed to and paid or reimbursed by
specific tenants)
including, but not limited to, the following:
i) Wages, salaries, fringe benefits, costs, payroll taxes,
unemployment compensation payments, workmen's
compensation insurance premiums and other related
expenses of all employees directly engaged in the
operation, maintenance and security of the Building;
costs of building employee uniforms and cleaning
thereof; the costs of fair rental value of a Building
management office; management fees payable by Landlord
(excluding brokerage commissions for leasing) if
management of the Building is contracted to a third
party;
ii) All supplies and materials used in the operation,
cleaning and maintenance of the Building and all of its
machinery and equipment;
iii) Costs of utilities, including water and power for
heating, lighting, air conditioning and ventilating the
entire Building (including all common and service
areas), fuel adjustment charges, sewer use charges and
any utility taxes;
iv) Costs of all management, maintenance and service
agreements for the Building and the equipment therein,
including, without limitation, alarm service, trash
removal, window cleaning and elevator maintenance;
v) Accounting costs, including the costs of audits by
certified public accountants, pertaining solely to the
management and operation of the Building;
vi) Costs of all insurance, including, without limitation,
fire, casualty, liability and rental value insurance
applicable to the Building and Landlord's personal
property used in connection with the operation and
maintenance of the Building;
vii) Costs of repairs, replacements and general maintenance
of the Building and each part thereof excluding
repairs, replacements and general maintenance paid by
proceeds of insurance or by Tenant or by other third
parties, and alterations attributable solely to other
Tenants of the Building;
viii) Snow removal, landscaping and any and all other common
area maintenance costs related to public areas,
including sidewalks and landscaping on the Building's
site;
ix) Amortization of capital improvements made to the
Building subsequent to the commencement date of this
Lease which may be required by governmental authorities
or which will improve the operating efficiency of the
Building resulting in a reduction of Operating
Expenses;
x) Personal property taxes, real property taxes, water and
sewer rents, fees or charges paid to any not for profit
organization or other association for the maintaining
Edison Parkway and/or the common areas in the Edison
Lakes Corporate Park.
C. It is understood and agreed that the Operating Cost
Tenant shall be required to pay shall be limited in
accordance with the following:
(i) From the commencement of the Lease through December
31, 2008, Tenant's share of the Operating Cost shall
be the lesser of:
(a) the actual Operating Cost for the Building
multiplied by Tenant's Percentage or
(b)$[**] multiplied by 17,613 (being the number of
rentable square feet included in the Premises).
(Hereafter, that portion of the Operating Cost that
does not include taxes and insurance shall be
referred to as "Non-T & I Operating Cost" and that
portion of the Operating Cost of the Building which
consists of Tax and Insurance shall be called "T &
I.")
(ii) Non-T & I Cost for all calendar years beginning
with
2009 through the end of the original fifteen (15)
year lease term will be limited to the amount
specified as the "Non-T & I Operating Cost Cap" for
the year in question as set forth on the "May
Oberfell Non-T & I Operating Cap Table" attached
hereto as Exhibit "C" multiplied by 17,613 (being the
number of rentable square feet in the Premises). The
parties have agreed that the schedule of "Caps"
specified on Exhibit C shall not apply to increases
in the Operating Cost resulting from increases in T &
I.
(iii) In Summary, for the years beginning January 1, 2009
through the original fifteen (15) year term of the
Lease, Tenant shall pay as follows:
(a) the basic rent as set forth in Paragraph
Four and any additional amounts Tenant shall
be required to pay hereunder other than the
Operating Cost; plus
(b) Tenant's share of the Operating Cost, which shall
be the lesser of:
the actual Non-T & I Operating Cost
multiplied by the Tenant's
Percentage of 15.41%, or
the amount of the Non-T & I
Operating Cost Cap specified for the
year in question on Exhibit C hereto
multiplied by 17,613 (being the
number of rentable square feet in
the Premises); plus
(c) the actual T & I multiplied by Tenant's
Percentage of 15.41%.
D. Subject to the limitations set forth in paragraph C
hereunder, Landlord may
estimate the Operating Cost for the Building for any calendar
year. Tenant's
Percentage of the Operating Costs, as defined above at 15.41% of
said Operating
Costs, shall be payable in monthly installments with each Rental
payment date
for such calendar year. Within a reasonable period of time after
the end of such
calendar year, Landlord shall render to Tenant a statement of
the actual
Operating Cost for such calendar year and a computation of
Tenant's share of
Excess Operating Cost, if any. Within fifteen (15) days
thereafter, Tenant shall
pay to Landlord Tenant's share of the Excess Operating Cost,
provided, however,
such Excess Operating Cost shall not be paid by Tenant if the
effect of such
payment would cause the Tenant's Operating Cost to exceed the
limitations set
forth in paragraph C hereunder. If the computation shows that a
refund is due
Tenant, such amount shall be credited by Landlord against the
next Rental
payment due.
6. SECURITY DEPOSIT. There shall be no Security Deposit
required.
7. SERVICES TO BE PROVIDED BY THE LANDLORD. The Landlord shall
provide
the following services to the Premises during reasonable
business
hours:
A. Janitorial services for customary cleaning in and about
the
Premises. The Tenant may not provide any janitorial service of
its own
without the Landlord's prior written consent, and then only
subject to
such additional conditions as the Landlord may reasonably
impose.
B. Landlord shall provide heating and air conditioning so as
to
maintain, subject to government regulations, in all rooms, on
a
reasonably consistent basis, a temperature 72(degree)F at all
times
(i.e. year round) under normal business operations daily from
7:00 a.m.
to 6:00 p.m., Monday through Friday, holidays excepted. In
addition,
Landlord shall provide an HVAC system such that Tenant shall be
able to
maintain heat and cooling through "zones" or other mechanism
which
Tenant can control on its Premises such that the temperature may
be
maintained in accordance with the above standard during
non-business
hours. Wherever heat-generating machines or equipment are used
or
business operations are conducted in the Premises which, in
the
judgment of the Landlord, affect the temperature otherwise
maintained
by the air conditioning system, the Landlord reserves the right
to
modify said system, including the installation of supplementary
air
conditioning units in the Premises, and the cost and expense
of
operation and maintenance thereof shall be paid by the Tenant to
the
Landlord.
C. Water from city mains, drawn through fixtures installed by
the
Landlord for drinking, lavatory, and toilet purposes, including
a
reasonable amount of hot water.
D. Automatic passenger elevator services in common with other
Tenants
at all times.
E. Electrical wiring system in the Premises for standard
electrical
receptacles and lighting fixtures with a dedicated line for
file
servers and copiers. Such electricity will be used only for
normal
equipment and accessories. Replacement lighting tubes, lamps,
bulbs,
and ballasts required for the overhead lighting fixtures in
the
Premises will be installed at the Tenant's expense. Tenant shall
be
responsible for bulbs and maintenance of all chandelier and
ornamental
lighting. The Landlord reserves the right to provide a separate
meter
for the Premises and to require the Tenant to pay for its use
of
electricity billed to such meter in lieu of including the cost
of
electricity in the operating expenses.
F. Snow-removal services for the outside parking facilities,
related
driveways, and sidewalks at all reasonable times. G. Lavatories
for the
use of Tenant's employees and invitees in common with other
Tenants in
the Building. H. All windows and glass will be washed and
cleaned
inside and outside a minimum of two (2) times per year and
Landlord
shall clean Tenant's carpets a minimum of once per year. This is
in
addition to the normal cleaning services provided by
Landlord.
I. Landlord shall provide and maintain all emergency lighting
and
fire extinguishers as required by state and local
codes and regulations.
J. It is understood and agreed that the cost of Landlord
providing any
of the above services shall be included in the "Operating
Cost"
hereunder of which Tenant shall pay its "Tenant's Percentage"
as
Additional Rent pursuant to Paragraph 5, above.
The Landlord does not warrant that any of the services above
mentioned
will be free from interruptions caused by repairs, renewals,
improvements,
alterations, strikes, lockouts, accidents, inability of the
Landlord to obtain
fuel or supplies, or any other cause beyond the reasonable
control of the
Landlord. Any such interruption of service will not constitute
an eviction or
disturbance of the Tenant's use and possession of the Premises,
or any part
thereof, or render the Landlord liable to the Tenant for
damages, or relieve the
Tenant from performance of the Tenant's obligations under this
Lease. Landlord
shall furnish Tenant with reasonable notice (24 hour minimum) of
any known or
anticipated interruption of electrical services. The Landlord
will use
reasonable efforts to promptly remedy any situation which has
interrupted such
services.
8. LANDLORD'S TITLE. The Landlord's title is and always shall
be
paramount to the title of the Tenant, and nothing contained
herein authorizes
the Tenant to do any act which may encumber the title of the
Landlord. This
Lease is subject and subordinate to all ground and underlying
leases, and to all
mortgages which may now or hereafter affect such ground and
underlying leases,
or the real property or Building, of which the Premises form a
part, and to all
renewals, modifications, consolidations, replacements, and
extensions thereof,
and to all advances made or hereafter to be made on the security
of any such
mortgages. Provided, however, that notwithstanding the
foregoing, the mortgagee
shall recognize this Lease and provide a non-disturbance and
attornment
agreement which, will in substance, allow Tenant to remain in
possession of the
Premises in accordance with the terms and conditions of this
Lease as long as
Tenant is not in default. The non-disturbance and attornment
agreement shall be
forwarded to Tenant only in the event Tenant is not in default
under the terms
and conditions of this Lease. The Tenant covenants and agrees
that it will, upon
the written request of such mortgagee or such purchaser, attorn
thereto and
execute, acknowledge, and deliver any instrument that has for
its purposes and
effect subordination of this Lease to said mortgage subject to
the
non-disturbance set forth herein above.
9. ASSIGNMENT AND SUBLETTING.
A. The Tenant may not assign or transfer all or any part of
its rights and interests under this Lease, and may not sublet or
permit the use
and occupancy of all or any part of the Premises, to or by a
third party without
the prior written consent of the Landlord. The Landlord's
consent under this
sub-paragraph shall be in its absolute discretion and subject to
such conditions
as the Landlord may impose. If the Landlord grants its consent,
then all
consideration paid or to be paid by such third party, including
any amounts in
excess of the rent due under this Lease, shall be paid directly
to the Landlord.
In the event of assignment by Tenant, the Tenant shall continue
to remain
responsible to Landlord for all payments due hereunder in the
event Tenant's
assignee shall fail to make prompt payments to Landlord.
B. The Landlord may transfer and assign, in whole or in
part,
all of its rights and obligations under this Lease and in the
Building and
related real estate. After such transfer or assignment, the
Landlord named in
this Lease will have no further liability to the Tenant under
this Lease for the
obligations assumed by the assignee or transferee.
10. UNTENANTABILITY. If the Premises or the Building is made
untenantable by fire or other cause, the Landlord may elect (a)
to terminate
this Lease as of the date of such casualty by notice to the
Tenant within thirty
(30) days after that date, or (b) to repair all damages to the
Premises or the
Building so that the same shall be restored to such condition as
existed
immediately prior to such damage. If the Landlord elects to
terminate this
Lease, the rent shall be abated on a per diem basis and be paid
to the date of
the fire or casualty. If the Landlord elects to restore the
Premises and
Building, such restoration shall be completed with reasonable
promptness. If the
Premises are unusable during such restoration, or if the Tenant
is reasonably
required to close its operation while such repairs are made, the
rent shall
abate during such period of repair while such operations have
ceased and the
Premises are completely closed. If the Tenant continues to
operate on the
Premises during such repairs, but is unable to use a substantial
portion
thereof, then the rent shall be prorated in the proportion which
the area of
unusable leased space bears to the total Premises for the period
that said space
is unusable. The Landlord will not be liable for business losses
to the Tenant
by reason of damage to the Premises. If such untenantability is
caused by the
fault of the Tenant, there will be no apportionment or abatement
of rent.
Notwithstanding anything contained in this paragraph to the
contrary, if the
Premises is not or cannot be made tenantable within one hundred
and eighty (180)
days after said damage for any reason whatsoever, the Tenant may
terminate this
Lease.
11. SIGNS. Except as modified by Exhibit A, Tenant shall pay for
all
signs related to the Tenant's use of the Premises. No sign,
advertisement, or
notice may be inscribed, painted, or affixed on any part of the
outside or
inside of the Premises or Building by the Tenant except on the
doors of the
Premises leased by the Tenant and on the directory board, and
then at the
Tenant's expense and only of such color, size, style, and
material as is
specified by the Landlord in writing. The Landlord reserves the
right to remove
all other signs at the expense of the Tenant. At the expiration
of the lease
term, the Tenant shall remove its signs from such doors.
12. ALTERATIONS. No alterations or additions may be made and
no
fixtures may be affixed to the Premises or the Building without
prior written
consent of Landlord, which consent shall not be unreasonably
withheld. Provided,
however, no consent by Landlord shall be required for Tenant to
make alterations
to the interior of the Premises which do not involve moving or
removing walls,
floors, ceilings, plumbing or lavatory equipment or fixtures, or
electrical
systems, or air, heating or cooling vents, systems, equipment or
duct work. All
such alterations, additions and fixtures, except the Tenant's
trade fixtures and
business machines, shall be and remain the property of Landlord
unless otherwise
agreed in writing by the Landlord. If at any time, including at
the termination
of the Lease Term, Tenant removes any satellite dish, antennae
or other
equipment from the Building or the Premises, Tenant shall, at
its sole cost and
expense, immediately repair all damage caused either by the
installation or
removal of such equipment and restore the Building and the
Premises to the
condition which existed prior to the installation thereof. All
such removal and
repair shall be subject to the prior approval of the
Landlord.
13. USE OF THE PREMISES. The Tenant (a) shall occupy and use
the
Premises during the term for the purposes specified in Paragraph
3, above, and
none other; (b) may not make or permit any use of the Premises
which, directly
or indirectly, is forbidden by public law, ordinance, or
government regulations
or which may be dangerous to life, limb, or property, or which
may invalidate or
increase the premium cost of any policy of insurance carried on
the Building or
covering its operations; (c) may not obstruct or use for storage
or for any
purpose other than ingress and egress the sidewalks, entrances,
courts,
corridors, vestibules, halls, elevators, and stairways of the
Building; (d) may
not make or permit any noise or odor that is objectionable to
other occupants of
the Building to emanate from the Premises, may not create or
maintain a nuisance
thereon, may not disturb, solicit, or canvass any occupant of
the Building, and
may not do any act tending to interfere with the quiet enjoyment
of their leased
space in the Building by other Tenants, or to injure the
reputation of the
Building; (e) may install an antennae or satellite dish on the
roof at the
Tenant's sole expense, provided that such antennae or satellite
dish is for the
use of Tenant and/or Tenant's Guests only (unless Landlord gives
its prior
written consent for use by others), it being understood that
Landlord shall have
the right to approve, in advance of installation by the Tenant,
the size,
weight, location and method of installation of Tenant's antennae
or satellite
dish, which approval shall not be unreasonably withheld, and
that the Tenant
shall not be required to pay rent for the antennae or satellite
dish location;
(f) may not place, or permit to be placed, any article of any
kind on the window
ledges or on the exterior walls and may not throw, or permit to
be thrown or
dropped, any article from any window of the Building; (g) may
not attach
additional locks or similar devices to any door or window and,
upon the
termination of this Lease or of the Tenant's possession, shall
surrender all
keys to the Premises and shall explain to the Landlord all
combination locks on
safes, cabinets, and vaults; (h) shall be responsible for
locking the doors and
closing the transoms and windows in and to the Premises; (i) may
not install any
awnings, or other form of inside or outside window covering or
window
ventilators or similar devices without the prior written consent
of the
Landlord; (j) may not overload any floor, shall route and locate
safes and other
heavy articles as the Landlord may direct, shall bring safes,
furniture, and all
large articles through the Building and onto the Premises at
such times and in
such manner as the Landlord directs and at the Tenant's sole
risk and
responsibility, and shall list all furniture, equipment, and
similar articles to
be removed from the Building for approval at the office of the
Management before
the removal of such articles; (k) may not install in the
Premises any equipment
which uses a substantial amount of electricity without the
advance written
consent of the Landlord, shall ascertain from the Landlord the
maximum amount of
electrical current which can safely be used in the premises,
taking into account
the capacity of the electrical wiring in the Building and the
Premises and the
needs of other Tenants in the Building and, notwithstanding the
Landlord's
consent to such installation, may not use more electricity than
such safe
capacity; (l) shall be responsible for the cost of modification,
installation,
maintenance, repair, and additional operating and utility
expenses related to
any supplementary air conditioning required by heat-generating
machines or
extraordinary equipment used by the Tenant; (m) may locate
antennas and other
sending and/or receiving equipment within the Premises for the
purpose of
wireless networking solely within the Premises, provided that no
such antennas
and/or equipment causes or results in signals, sounds,
electrical impulses
and/or data to be received outside the Premises or interferes
with equipment
being used outside the Premises. It is understood and agreed
that the rights
granted in subparagraphs (e) and (m) hereof to install an
antennae or satellite
dish take precedence over and supersede any contradictory
provisions of the
Building Rules and Regulations now or hereafter adopted.
All persons entering or leaving the Building between the hours
of 6:00
p.m. and 8:00 a.m. Monday through Friday or any time Saturdays,
Sundays, or
holidays, may be required to identify themselves to a watchman,
by registration
or otherwise, and to establish their right to enter or leave the
Building.
Provided further that nothing contained herein shall be
construed to require the
Landlord to provide watchmen or other security agents on or
about the Building.
The Landlord may exclude or repel any peddler, solicitor, or
beggar. In addition
to all other liabilities for breach of any covenant of this
Paragraph, the
Tenant shall pay to the Landlord, as additional rent hereunder,
an amount equal
to any increase in insurance premiums caused by such breach. The
violation of
any covenant of this Paragraph may be restrained by injunction
without the
requirement of any bond.
14. REPAIRS. The Tenant shall take good care of the Premises and
the
fixtures therein and shall keep the Premises in good order,
condition, and
repair at the Tenant's expense during the term of this Lease,
including the
replacement of all interior broken glass. Exterior glass broken
by the Tenant
will be replaced by Landlord, at Tenant's sole cost and expense
and the Tenant
shall promptly pay the Landlord for the costs thereof as
additional rent for
glass of the same size and quality. If the Tenant does not make
necessary
repairs within a reasonable time and adequately, the Landlord
may, but need not,
make such repairs and the Tenant shall promptly pay the Landlord
for the costs
thereof as additional rent. On the expiration or early
termination or
cancellation of this Lease, the Tenant shall surrender the
Premises and the
Landlord's fixtures in as good condition as of the time of
delivery to the
Tenant, subject to reasonable wear and tear. All injury to the
Building or
fixtures caused by moving of the Tenant in and out of the
Building and any and
all breakage or any other injury whatsoever to the Building,
fixtures or to the
property of any Tenants of the Building caused by the Tenant and
any damage done
by water, steam, electricity, fire, or other substance to the
Building or
fixtures, or to the property of other Tenants in the Building
caused by the
Tenant may be repaired by the Landlord at the expense of the
Tenant, and the
cost thereof shall become due and payable by the Tenant as
additional rent upon
the delivery of a statement of such costs by the Landlord to the
Tenant, or
mailing the same, postage prepaid, to the Tenant at its last
known address.
15. EMINENT DOMAIN.
(a) Partial or Total Condemnation. If any portion of the
Premises is taken for any public or quasi-public use under any
governmental law,
ordinance or regulation, or by right of eminent domain, or by
private purchase
under threat or intimidation thereof, this Lease shall terminate
on the election
of either party, effective on the date of possession of the
Premises or any
portion thereof is taken by the condemning authority or private
purchaser. In
the case of a partial condemnation where neither party elects to
terminate this
Lease, then the annual rental payable hereunder shall, during
the unexpired
portion of the lease term, be reduced by the pro rata amount
attributable to the
Premises taken, effective on the date possession of such portion
of the Premises
is taken by the condemning authority or private purchaser.
Landlord shall
promptly provide to Tenant a copy of all notices from any such
condemning
authority or private purchaser, respecting any requirement that
Tenant surrender
its right to possession to the Premises or any portion thereof
pursuant to this
Paragraph 15(a).
(b) Notice to Terminate. Any notice of election by Tenant to
terminate this Lease pursuant to this paragraph, shall be given
by Tenant to
Landlord within thirty (30) days after notice by Landlord to
Tenant as provided
in Paragraph 15(a) hereof or within thirty (30) days after
receipt by Tenant of
actual knowledge of any requirement that Tenant surrender its
right to
possession to the Premises or any portion thereof as herein
provided, whichever
first occurs. Any notice of election by Landlord to terminate
this Lease, as
herein provided, shall be given by Landlord to Tenant within
thirty (30) days
after receipt by Landlord of actual knowledge of any requirement
that Landlord
surrender its right to possession to the Premises or any portion
thereof. In the
event this Lease is not terminated under this paragraph,
Landlord shall make
such reasonable repairs or alterations as may be necessary to
make the Premises
fully functional and this Lease shall remain in full force and
effect.
(c) Condemnation Award. Each party shall be entitled to
awards
for taking and damages with respect to its and their respective
interests, it
being the intent herein that each party shall recover a sum
sufficient to put
said party in the position each would have been in through the
life of this
Lease and any renewal or extension thereof, the same as if a
condemnation had
not occurred.
16. RIGHTS RESERVED TO LANDLORD. The Landlord reserves all
rights
incident to its ownership of the Building, including, but not
limited to, the
right (a) to change the name or street address of the Building
without notice or
liability; (b) to install and maintain signs on the exterior of
the Building;
(c) to approve all sources furnishing sign painting and
lettering, and drinking
water, used on the Premises; (d) if, during or prior to the
termination of this
Lease, the Tenant vacates the Premises, to decorate, remodel,
repair, alter, or
otherwise prepare the Premises for reoccupancy; (e) to have pass
keys to the
Premises; (f) to exhibit the Premises during the last ninety
(90) days of the
lease term; (g) to take any and all measures, including
inspections, repairs,
alterations, additions, and improvements to the Premises or to
the Building as
may be necessary or desirable for the safety, protection, or
preservation of the
Premises or the Building or the Landlord's interest therein, or
as may be
necessary or desirable in the operation of the Building; (h) to
approve all
movers employed by the Tenant to move the Tenant's furnishings,
fixtures, and
equipment in or out of the
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