675 - Laserfiche WebLink

Home Browse Search

C3 Page 6 If such taking is for a period which extends beyond the particular renewal term of this renewal lease then in existence, Lessee shall be entitled to that portion of the entire award allocable to the period of time from the date of such t-aking to the date of the expiration of said renewal term and Lessor shall be entitled to the amount allocable to the remainder of such period (unless Lessee shall exercise its richt of renewal or purchase as hereinafter specified in sub-pa-°agraph (d) below in which event Lessee shall continue to releive the entire amount of the award). (d) Notwithstanding the provisions of the foregoing sub -paragraphs of this paragraph 7, Lessee shall have the right to exercise Lessee's options to renew and/or to purchase set forth in paragraph 11 hereof, if Lessee gives notice of its election within thirty (30) days after title shall be vested in the competent authority condemning the same or in the case of the temporary taking within thirty (30) days after the right of possession is obtained by the competent authority condemning the same. In the case of the exercise of the option to purchase upon payment of the purchase price required by paragraph 11 the entire amount of any condemnation award shall belong to the Lessee. 8. It is made a condition under this lease that, if the Lessee shall fail to pay any one or more monthly rental installments, or any part thereof, for a period of thirty days after the same becomes due and payable, the Lessor may cancel and terminate this lease and recover possession of the leased premises after giving to the Lessee thirty (30) days' prior written notice, which notice may be deposited in the United States registered mail, addressed to the Secretary of the Lessee, at its principal office, or such other address designated by the Lessee from time to time upon written notice to the Lessor; provided, however, that within thirty (30) days from the receipt of said registered mailed notice, the Lessee shall have the privilege of paying to the Lessor all accrued and unpaid rentals, in which event said notice shall be of no effect.