CCP 04-27-1998 - Laserfiche WebLink

Home Browse Search

mortgage or trust deed covering the lndustrial Center or any part thereof. Accordingly, if any installment of Base Rent, Operating Expenses, or any other sum due from Lessee is not received by Lcssor or Lessor's dcsignee within ten (lO) days aftcr such amount is due, then, without any . requirement for notice to Lessee, Lessee shaH pay to Lessor a late charge equal to six percent (6%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable cstimatc of the costs that Lessor will incur by rcason of late payment by Lessee. Acceptance of such Iatc charge by Lessor shall in no event constitute a waiver of Lessee's default with rcspect to such overdue amount, nor prevent Lessor from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collccted, for three (3) consecutive installments of any of the aforcsaid monetary obligations of Lessee, then Base Rent shall automatically become due and payable quartcrly in advance, .rather than monthly, notwithstanding paragraph 4.1 or any other provision of this Lease to the contrary. 14. Condemnation. If the Premises or any portion thereof or the Industrial Center is taken under the power of eminent domain, or sold under the threat of the exercise of said pov,ler (all of \vhich are herein called "condemnation"), this Lease shall terminate as to the part so taken as of thc date when the condemning authority takes title or possession, whichever first occurs. rfmorc than ten percent of the floor area of the Premises, or more than twenty-five percent of that portion of the Common Areas designated as parking for the Industrial Center, is taken by condemnation, Lessee may, at its option, to be exercised in writing only within ten (10) days after Lessor has given Lessee written notice of such taking (or in the absence of such notice, within ten (( 0) days afier the condemning authority has taken possession) terminate this Lease as of the date when the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the rent shall be reduced in the proportion that the floor area of the Premises takcn bears to the total floor area of the Premises. No reduction of rent shaU occur if the only area taken docs not have the Premiscs located thereon. Any award for the taking of aU or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Lessor, whether such a\vard is made as compensation for diminution in value of the leasehold or for the taking of the fee. or as severance damages; provided, however, that Lessee shall be entitled to any award for loss of or damage to Lessee's trade fixtures and removable personal property. In the event that this Lease is not temlinated by reason of such condemnation, Lessor shall, to the extent of . severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such condemnation except to the extent that Lessee has been reimburscd thercforby the condemning authority. Lessee shaU pay any amount in excess of such severance damages required to complete such repair. 15. Broker's Fee. Lessee warrants that it has not had any dealings with any real estate brokers or leasing agents other than CB Commercial and \Velsh Companies (the "Broker") in connection with this Lease and that no person or entity other than the Broker is entitled to receive any real estate brokerage or leasing commissions or tinder's fees by reason of the execution of this Lease. Lessee's indemnification of Lessor in Paragraph 8.7 of this Lease shall apply to breach of the warranty contained in this provision. 16. Estoppel Certificate. (a) Lessee shall at any time and from time to time within ten (10) days following request from Lessor execute, acknowledge~ and deliver to Lessor a statement in writing (i) certifying that this Lease is unmodified and in full force and effect (or. if modified. staling the nature of such modification and certifying that this Lease as so modified is in full force and effect); (ii) acknowledging that there are not, to Lessee's knowledge, any uncured defaults on the part of Lessor hereunder, or specifying such defaults if any arc claimed; (iii) certifying the date when Lessee entered into occupancy of the Premises and that Lessee is open and conducting business at the Premises; (iv) certifying the datc to which rentals and other charges are paid in advance, if any; (v) certifying the current amount of base rent due under the Lease; (vi) evidencing the status of this Lease as may be required either by a lender making a loan affecting, or a purchaser of, the Premises or any part of the Industrial Center from Lessor; (vii) warranting that if any beneficiary of any security instrument encumbering the Premises forecloscs on the security instrument, such beneficiary shaH not be liable for the security deposit; (viii) certifying that all improvements to be constructed on the Premises by Lessor are substantially completed, except for any punch list items that do not prevent Lessce from using the Premises for its intended use; and (ix) certi fying as to such other matters relating to this Lease and/or the . Premises as may be requested by a lender making a (oan to Lessor or a purchaser oftbe Premises or any part thereof from Lessor. Any such statement may be relied upon by any prospective \\r.lINNE..PQtISI VOl.I\SUPI'<J~l\""D" r "\"MII\R.!Nd.o\M""IIdl..i\"GMF.fMES\.h;II.I.oI.~ page 16 (S:IMDATA1AMBIGENElUtIFORMS!REIT-LE.M.DOC)