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2009_0112_Packet
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2009_0112_Packet
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(b) !f thirty percent (30%) of the area of the B�iilcfir�g or thirty percent {30%) of the value <br />of the Shopping Center Tract is ta[<en by eminent domain, then, at Landlord's option, by <br />written notice to Tenant mail�d with sixty (60) days from the date possession is take�, <br />Landlord may terminate the Lease effective o►� a date within ninety {90) days of the date <br />possession i5 tal<e�. <br />(c) T�e terr� "eminent domain" sh�a[I ir�clude the exercise of any similar governmental ��ow�r <br />and any purchase for other ac�uisition in lieu of condemnation. Ail damages awarded for <br />any tafcing of tF�� fee and leasehold interests shall belong to and be the property of <br />Landlord, and Tenant hereby assigns any interest thereirs ta L�r�dlord, if any, in such award. <br />Tenant shalE, in any event, hav� the right to prove in any �roceedings, anc€ ta receiv�, a <br />separate award for damages to Tenant for condemnatior� of movabfe trade fixtures and <br />equipment and for relocatio� �r maving expenses. <br />Article 1 3: DE�'AtJLT BY TENANT AND RIGHTS OF LANDLORD <br />(a} Bankruptcy or Insoivency. Tenant or Tenant's guarantor shall not cause or give cause <br />far the appaintment of a trustee ar a rece��er of the assets of Tenant or Tenant's <br />g�arantor, if any, and shall r�ot mal<e any assignment for the benefit of creditors, or be <br />adjudicated insofvent, The allowance of ar�y �etition ur�der any insol�ency law except under <br />the U. S. Federal Ban4�ruptcy Code l�y the ap�ointment o# a trustee or receiver of Tenant or <br />Tenant's guarantor, if any, or of the assets of �ither of t�em, shail be conclusive of the <br />evidence of the petition, by the appo€ntr�ent of a trustee or recei�er unless same is vacated <br />within thirty (30) days after such an alfowarice or appointrr�ent. Any act descrif�ed in tf�is <br />section shalf be deemed in rr�aterial breach of Tenant's obligations hereunder and Chis Lease <br />shall thereon automatically termina�e. �andlord does, in addi�ion, reserve any and all. o�her <br />remedies provided in this leas� or in the faw. <br />{i} Upon fi�ing of a p�titior� by or against Tenant under the U. S. Federa! <br />Banfcruptcy Code, Tenant, as de�tor in passession, a�d any trustee who may be appointed <br />agree as follows: (A} to perform each and e�ery of�ligatian of Tenant under this Lease <br />inclu�lirtg, but not limited to, the manner o€ "o�erations" as provic€�d on �he DAi'A SHEET and <br />in Article 1 of this Lease un�i� s�ch time as this Lease is either rejectecf or assumed by order <br />of �he fJnited States Banf�ruptcy Court; and (B) to pay in advance an the first day of each <br />month as reasonable campe�sation for use and occupancy of the Prerr-tises ar� amour�t equal <br />ta afl Annual M�nimum Rent and Other Charges otherwise due pursuant to this Lease; a�d (C) <br />to reject or assume this Lease within sixty (�0} days afi the filing of such petition under <br />Cha�ter 7 of the 8anlcruptcy Code ar within such period as �he Landiord may request under <br />any other Chapter; and (D) to gi�e the Lanc�{ord aC I�ast forty-five (45) days prior written <br />notice of any proceeding refating ta any assumpCion o� �his Lease; and (E) to give at least <br />thirty (30} ciays prior written notice of any abandonment of the Premises, any such <br />abandonment to be c�e�med a rejection of this Lease; and {F} �to do all other things of <br />ber�efit to the Landlord otherwise required uncier thE Bankruptcy Code; and (G} to be <br />deemed to have rejected tf�is Lease in the e�ent of the failure to comply with any of the <br />aE�ove; and {H) to be deemed to have consented to th� entry of an order by an ap�roprEate <br />13 <br />
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