Common use of Condition Assessment Clause in Contracts

Condition Assessment. The Lessee is required to have a professional engineer and/or building inspector perform an assessment of the condition of the improvements within the last term of the Lease or as mutually agreed upon between the parties. The engineer/inspector shall be hired by the Lessee at ▇▇▇▇▇▇’s sole expense. Said engineer/inspector shall be approved by the Port in writing, which approval shall not be unreasonably withheld. This Condition Assessment will look at the building’s structural components, as well as items such as the electrical and plumbing systems, heating and air conditioning system, etc. If the Lessee has parking spots or aircraft ramp/apron on their leasehold that they are responsible for, then those are assessed, too. If there are major items of deferred maintenance, the Port may require that those items are addressed to the satisfaction of the Port during the term of the lease, as well as before reversion occurs. By having this assessment done on a scheduled basis during the term of a lease, it sets forth clear expectations for both parties. Should Lessee fail to remedy any items of concern within a reasonable and timely manner, the Port may deem such failure a default under the Lease.

Condition Assessment. The Port shall require the Lessee to provide to the Port Condition Assessment reports on their facilities during the term of the lease. The Lessee is required to have a professional engineer and/or or building inspector perform an assessment of the condition of the improvements facilities every five (5) years, as well as within the last term year of the Lease or as mutually agreed upon between the partiesLease. The engineer/inspector shall be is hired by and paid for by the Lessee at ▇▇▇▇▇▇’s sole expense. Said engineer/inspector shall tenant, but must be approved by the Port in writing, which approval shall not be unreasonably withheldPort. This Condition Assessment will look at the building’s structural components, as well as items such as the electrical and plumbing systems, heating and air conditioning system, etc. If the Lessee has parking spots or aircraft ramp/apron on their leasehold that they are responsible for, then those are assessed, too. If there are major items of deferred maintenance, the Port may require that those items are addressed to the satisfaction of the Port during the term of the lease, as well as before reversion occurs. By having this assessment done on a scheduled basis during the term of a lease, it sets forth clear expectations for both parties. Should Lessee fail to remedy any items of concern within a reasonable and timely manner, the Port may deem such failure a default under the Lease.

Condition Assessment. The Port shall require the Lessee to provide to the Port Condition Assessment reports on their facilities during the term of the lease. The Lessee is required to have a professional engineer and/or or building inspector perform an assessment of the condition of the improvements facilities every five (5) years, as well as within the last term year of the Lease or as mutually agreed upon between the partiesLease. The engineer/inspector shall be is hired by and paid for by the Lessee at ▇▇▇▇▇▇’s sole expense. Said engineer/inspector shall tenant but must be approved by the Port in writing, which approval shall not be unreasonably withheldPort. This Condition Assessment will look at the building’s structural components, as well as items such as the electrical and plumbing systems, heating and air conditioning system, etc. If the Lessee has parking spots or aircraft ramp/apron on their leasehold that they are responsible for, then those are assessed, too. If there are major items of deferred maintenance, the Port may require that those items are addressed to the satisfaction of the Port during the term of the lease, as well as before reversion occurs. By having this assessment done on a scheduled basis during the term of a lease, it sets forth clear expectations for both parties. Should Lessee fail to remedy any items of concern within a reasonable and timely manner, the Port may deem such failure a default under the Lease.