Demolition. Promptly after the Phase 1 Expansion Space Delivery Date and during the plan approval process described above, [[Organization B:Organization]] may commence demolition activities in the Phase 1 Expansion Space, including removal and disposal of any fixtures, furniture, and equipment (FF&E) located in the Phase 1 Expansion Space as of the Phase 1 Expansion Space Delivery Date.
Demolition. Promptly after the Delivery Date and during the plan approval process described in [Section 4A] above, [[Organization B:Organization]] may commence demolition activities in the Premises.
Demolition. Landlord shall have the right to terminate this Lease in the event Landlord elects to demolish 75 percent or more of the total floor area in the building containing the Premises. In such event, Landlord shall give Tenant a notice of termination at least 180 days prior to the effective date of such termination and shall pay Tenant, on the termination date, the cost (less depreciation) of Tenants fixtures (other than removable trade fixtures) and of leasehold improvements installed in the Premises at Tenants expense. For the purposes of this provision, depreciation of Tenants fixtures and leasehold improvements shall be calculated on a straight-line basis over the Term of this Lease (exclusive of any permitted extensions of the Term). Upon payment to Tenant of the amount specified in this paragraph and any prepaid Rent or security deposit, Landlord shall be relieved of all further liability to Tenant hereunder and the Lease shall terminate as of the effective date of such termination except for the rights and obligations accrued as of the date of such termination.
Demolition Scope of Work. Subject to reaching mutual agreement on the cost for such work. [[Organization A:Organization]] shall pay for the following demolition work within the Phase 2 Expansion Space to be completed by [[Organization B:Organization]]’s contractor in accordance with drawings and specifications prepared by [[Organization B:Organization]]’s design professional: # removal of interior walls, including framing, doors, electrical outlets and switches, wiring, low voltage/data cabling, and plumbing or other utilities located in such interior walls to the extent not being reused by the [[Organization B:Organization]] (electrical, low voltage wiring/data cabling and plumbing serving the base building MEP systems and restrooms shall be left in place); # removal of carpeting, tile and other installed floor coverings to include mastics and/or other adhesives/setting beds; # removal of the acoustical and gypsum ceilings and soffits, including light fixtures and HVAC ductwork diffusers and grilles to the extent not being reused by the [[Organization B:Organization]]; # the existing restrooms shall be left in place and unmodified; # the existing wall framing and drywall at the exterior walls and restrooms shall be left in place and unmodified; # the existing HVAC roof top units shall be left in place and unmodified; # the existing fire protection sprinkler system shall be left in place and unmodified: # removal of all interior millwork and cabinetry; # the existing fire alarm system shall be left in place and unmodified; and # the interior doors, frames and finish hardware shall be salvaged for reuse by the [[Organization B:Organization]] (collectively, the “[[Organization A:Organization]] Demolition Work’’).
#[[Organization B:Organization]] Delivery of [[Organization B:Organization]] Phase 2 Demolition Cost Estimate and Completion of the [[Organization A:Organization]] Demolition Work. The section of the Lease entitled “[[Organization B:Organization]] Delivery of [[Organization B:Organization]] Phase 2 Demolition Cost Estimate and Completion of the [[Organization A:Organization]] Demolition Work” is hereby amended to add the following:
#[[Organization B:Organization]] Delivery of [[Organization B:Organization]] Phase 2 Demolition Plans. On or before May 1, 2022. [[Organization B:Organization]] shall deliver to [[Organization A:Organization]] demolition drawings and specifications in accordance with the [[Organization A:Organization]] Demolition Work scope set forth in Section 4(a) above and as may be necessary or required to secure a demolition building permit from the City of Eden Prairie for the Phase 2 Expansion Space (“[[Organization B:Organization]] Phase 2 Demolition Plans”) at [[Organization A:Organization]]’s cost (not to exceed $6,500.00). Within ten (10) business days after receipt of the [[Organization B:Organization]] Phase 2 Demolition Plans, [[Organization A:Organization]] will review and approve or disapprove the [[Organization B:Organization]] Phase 2 Demolition Plans in its reasonable discretion. If [[Organization A:Organization]] disapproves the [[Organization B:Organization]] Phase 2 Demolition Plans, it shall state with particularity the reasons for such disapproval. If disapproved, [[Organization B:Organization]] shall revise the [[Organization B:Organization]] Phase 2 Demolition Plans to address [[Organization A:Organization]]’s concerns and resubmit to [[Organization A:Organization]] for review and approval or disapproval.
“iv. If [[Organization A:Organization]] and [[Organization B:Organization]] reach agreement by March 16, 2022, on the cost to be paid by [[Organization A:Organization]] for completion of the [[Organization A:Organization]] Demolition Work by [[Organization B:Organization]]’s selected contractor, then [[Organization A:Organization]] will deliver the Phase 2 Expansion Space to [[Organization B:Organization]] on March 16, 2022, and [[Organization B:Organization]] will cause the demolition scope of work to be completed in substantial compliance with the approved [[Organization B:Organization]] Phase 2 Demolition Plans, and [[Organization A:Organization]] shall pay [[Organization B:Organization]]’s selected contractor for completion of the [[Organization A:Organization]] Demolition Work, not to exceed the amount agreed to by and between [[Organization A:Organization]] and [[Organization B:Organization]] pursuant to this section.”
at least those hazards that are commonly insured against under a “Special Causes of Loss” Form policy, as the same shall exist on the date hereof, and together with any increase in the scope of coverage provided under such form after the date hereof; and # providing Law & Ordinance coverage, including coverage for Loss to the Undamaged Portion of the Building, Demolition Costs and Increased Cost of Construction in amounts acceptable to , in the event any of the Improvements constitute legal non-conforming structures. The Full Replacement Cost shall be re-determined from time to time (but not more frequently than once in any twelve (12) calendar months) at the request of by an appraiser or contractor designated and paid by and approved by , or by an engineer or appraiser in the regular employ of the insurer. After the first appraisal, additional appraisals may be based on construction cost indices customarily employed in the trade. No omission on the part of to request any such ascertainment shall relieve of any of its obligations under this Subsection;
#[[Organization B:Organization]] Improvement Allowance. [[Organization A:Organization]] and [[Organization B:Organization]] have agreed that the costs of both the Phase 1 [[Organization B:Organization]] Improvements and the Phase 2 [[Organization B:Organization]] Improvements (collectively, “[[Organization B:Organization]] Improvements”) shall be paid by [[Organization B:Organization]] (excepting the cost of the [[Organization B:Organization]] Phase 2 Demolition Plans which shall be at the sole cost of [[Organization A:Organization]], not to exceed $6,500.00), although [[Organization A:Organization]] shall provide [[Organization B:Organization]] an allowance not to exceed $1,007,175.00 or $25.00 per rentable square foot for both the Phase 1 Expansion Space and the Phase 2 Expansion Space to be utilized toward the cost of the [[Organization B:Organization]] Improvements (including the cost for removal and disposal of any FF&E located in the Phase 1 Expansion Space) (the “[[Organization B:Organization]] Improvement Allowance”); provided, however, that any costs to be paid from the [[Organization B:Organization]] Improvement Allowance must be incurred and submitted to [[Organization A:Organization]] on or before June 30, 2023, and any costs incurred or submitted to [[Organization A:Organization]] on or after July 1, 2023, shall not be eligible for payment from the [[Organization B:Organization]] Improvement Allowance. For the avoidance of doubt, [[Organization B:Organization]] may apply all or any portion of the [[Organization B:Organization]] Improvement Allowance to eligible costs incurred to complete the Phase 1 [[Organization B:Organization]] Improvements and shall not be required to limit use of the [[Organization B:Organization]] Improvement Allowance in proportion to the Floor Area included in the Phase 1 Expansion Space.
Maintenance and Compliance with Laws. Trustor shall keep the Property in good condition and repair (ordinary wear and tear excepted), and shall promptly perform or ensure that its tenants shall promptly perform all repairs, replacements, and maintenance necessary to keep the property in good condition and repair (ordinary wear and tear excepted). Subject to Section 4, Trustor shall promptly complete or restore, or cause to be completed or restored, and in good and workmanlike manner any portion of the Property which may be damaged or destroyed, and shall pay, when due, all claims for labor performed and materials furnished on or to the Land or Improvements, and any and all other claims which could result in a lien on the Property or any part thereof (except Permitted Liens). Trustor shall not commit waste with respect to the Property. Trustor shall comply in all material respects with all present and future statutes, laws, rules, orders, regulations and ordinances affecting the Property, any part thereof or the use thereof and shall comply in all material respects with all covenants, conditions and restrictions filed of record against the Land or the Improvements. Notwithstanding anything to the contrary contained in the Credit Agreement, Trustor, Beneficiary and Trustee agree that the demolition of the existing Improvements or portion thereof in order to redevelop the Property or portion thereof shall not be deemed a violation of this Section or an Event of Default.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.