Common use of Eminent Domain and Condemnation Clause in Contracts

Eminent Domain and Condemnation. If all or any part of the Leased Premises is taken by eminent domain (“eminent domain” shall include the exercise of any similar power of taking, and any purchase or acquisition in lieu of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authority, then the Term of this Lease shall cease as of the date possession shall be taken by the condemning authority, or as of the date improvements are ordered torn down or removed, which every may be applicable, with the Rent to be apportioned as of the date of such taking or of such order, as the case may be; provided, however, if as a result of a partial taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five (25%), Landlord may elect to continue the Term of this Lease and to restore, at Landlord’s expense, the remaining Leased Premises to a complete architectural unit with storefront (if applicable), signs and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option to restore the Leased Premises unless, within thirty (30) days after the date of taking, Landlord shall notify Tenant in writing of its election to terminate this Lease. Landlord shall be entitled to receive all of the proceeds of any total or partial taking of the Leased Premises by eminent domain, including any part of such award as may be attributable to the unexpired leasehold interest or other rights of Tenant in the Leased Premises, and Tenant hereby assigns, and transfers to the Landlord all of Tenant’s right to receive any part of such proceeds.

Eminent Domain and Condemnation. If all or (a) If, at any part time prior to Closing, a “material portion” (as hereinafter defined) of the Leased Premises Real Property is taken by or condemned or becomes the subject of any eminent domain (“eminent domain” shall include or condemnation proceeding, or if Seller receives notice from any governmental entity with the right to exercise of any similar the power of taking, and any purchase eminent domain that it desires or acquisition in lieu intends to take a material portion of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authorityReal Property, then the Term Seller shall so notify Purchaser in writing and Purchaser may, at its sole discretion, elect by notice to Seller within ten (10) Business Days after giving of this Lease shall cease as of the date possession shall be taken by the condemning authority, or as of the date improvements are ordered torn down or removed, which every may be applicable, with the Rent Seller’s written notice to be apportioned as of the date of such taking or of such orderPurchaser, as the case may be; providedits sole and exclusive remedy, however, if as a result of a partial taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five either (25%), Landlord may elect to continue the Term of this Lease and to restore, at Landlord’s expense, the remaining Leased Premises to a complete architectural unit with storefront (if applicable), signs and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option to restore the Leased Premises unless, within thirty (30i) days after the date of taking, Landlord shall notify Tenant in writing of its election to terminate this Lease. Landlord Agreement, in which event, Purchaser shall comply with the requirements contained in Section 6.03(d) above and Purchaser shall be entitled to receive all the immediate return of the proceeds Escrowed Funds and, except for those obligations that survive termination of any total this Agreement, this Agreement shall be of no further force and effect and the parties shall have no further rights, obligations or partial taking liabilities hereunder; or (ii) to accept the Real Property subject to said condemnation proceeding or in the condition in which it is left following such condemnation or taking, and receive either the full amount of the Leased Premises by eminent domaincondemnation award that Seller received for the Property (less the reasonable costs, including any part of without limitation attorneys’ fees, incurred by Seller in obtaining such award as may or restoring the Real Property following such condemnation or taking) (but not including any award for any personal property of Seller which was not to be attributable conveyed to Purchaser hereunder) or, if Xxxxxx has not received said award on or before the Closing Date, accept an assignment from Seller, in form and content reasonably acceptable to Seller and Purchaser, of Seller’s rights in and to said award (but not including any award for any personal property of Seller which was not to be conveyed to Purchaser hereunder) and the Closing shall occur without an adjustment to the unexpired leasehold interest Purchase Price. If Purchaser does not give a notice pursuant to subsection (i) above on or other rights before ten (10) Business Days after the receipt of Tenant Seller’s written notice to Purchaser of the eminent domain or condemnation proceeding, Purchaser shall be conclusively presumed to have elected to proceed in accordance with subsection (ii) above. The Closing Date shall be extended for the Leased Premises, and Tenant hereby assigns, and transfers period of time necessary to allow Purchaser the Landlord all of Tenant’s right to receive any part of such proceedselection stated in this Section 10.01(a).

Eminent Domain and Condemnation. If all Grantor shall notify Beneficiary immediately of any threatened or any part of the Leased Premises is taken by pending proceeding for eminent domain (“eminent domain” shall include or condemnation affecting the exercise Mortgaged Property or arising out of any similar power of takingdamage to the Mortgaged Property, and any purchase or acquisition in lieu of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authority, then the Term of this Lease shall cease as of the date possession shall be taken by the condemning authority, or as of the date improvements are ordered torn down or removed, which every may be applicable, with the Rent to be apportioned as of the date of such taking or of such order, as the case may be; provided, however, if as a result of a partial taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five (25%), Landlord may elect to continue the Term of this Lease and to restoreGrantor shall, at LandlordGrantor’s expense, diligently prosecute any such proceedings. Beneficiary shall have the remaining Leased Premises right (but not the obligation) to a complete architectural unit with storefront (if applicable), signs participate in any such proceeding and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option to restore the Leased Premises unless, within thirty (30) days after the date of taking, Landlord shall notify Tenant in writing represented by counsel of its election to terminate this Leaseown choice. Landlord Beneficiary shall be entitled to receive all sums which may be awarded or become payable to Grantor for the condemnation of the proceeds of any total Mortgaged Property, or partial taking of the Leased Premises by eminent domain, including any part thereof, for public or quasi-public use, or by virtue of private sale in lieu thereof, and any sums which may be awarded or become payable to Grantor for injury or damage to the Mortgaged Property. Grantor shall, promptly upon request of Beneficiary, execute such award additional assignments and other documents as may be attributable necessary from time to time to permit such participation and to enable Beneficiary to collect and receipt for any such sums. All such sums are hereby assigned to Beneficiary, and shall, after deduction therefrom of all reasonable expenses actually incurred by Beneficiary, including attorneys’ fees, at Beneficiary’s option be (1) released to Grantor, or (2) applied (upon compliance with such terms and conditions as may be required by Beneficiary) to repair or restoration of the Mortgaged Property so affected, or (3) applied to the unexpired leasehold interest payment of the Obligations in such order and manner as Beneficiary, in its sole discretion, may elect whether or other rights not due. In any event the unpaid portion of Tenant the Obligations shall remain in full force and effect and the payment thereof shall not be excused. Beneficiary shall not be, under any circumstances, liable or responsible for failure to collect or to exercise diligence in the Leased Premisescollection of any such sum or for failure to see to the proper application of any amount paid over to Grantor. Beneficiary is hereby authorized, in the name of Grantor, to execute and deliver valid acquittance for, and Tenant to appeal from, any such award, judgment or decree. All costs and expenses (including but not limited to attorneys’ fees) incurred by Beneficiary in connection with any condemnation shall be an Obligation owing by Grantor (which Grantor hereby assigns, and transfers promises to the Landlord all pay on demand of Tenant’s right Beneficiary) to receive any part Beneficiary pursuant to this Deed of such proceedsTrust.

Eminent Domain and Condemnation. If all the Premises, in whole or part, shall be taken or acquired by any part public or quasi-public authority under the power or threat of eminent domain the term of the Leased Premises is taken by eminent domain (“eminent domain” shall include the exercise of any similar power of taking, and any purchase or acquisition in lieu of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authority, then the Term of this Lease shall cease as of the date day possession shall be taken by the condemning said public or quasi-public authority, and Lessee agrees to pay Base Rent and all Operating Expenses due Lessor under this Lease up to that date and Lessor agrees to refund to Lessee any rent or as advances which may have been paid for any period subsequent to such date. In the event that during the term of this Lease the Premises, in whole or part, or more than of the Building/Complex or Common Area where Premises is located is taken by condemnation or right of eminent domain, or by private purchase in lieu thereof, the Lessor at Lessor's sole option shall have the right to terminate the Lease and the term hereby granted and the Lease shall expire on the date improvements are ordered torn down or removedwhen possession shall be taken by condemnor and the Base Rent shall forthwith be repaid by Lessor to Lessee. In the event Lessor elects to not terminate this Lease as provided above, which every may the Lessor shall restore the Premises as close to their condition immediately prior to any such possession as nearly as possible and this Lease shall continue in full force except that, during the period of restoration of Premises, the Base Rent shall be applicable, with equitably apportioned to the Rent to be apportioned as portion that the square footage of the date part of such taking or of such order, as the case may be; provided, however, if Premises so taken as a result of a condemnation bears to the total square footage of the Premise immediately prior to such taking. However, in no event shall there be an abatement of the payment of Operating Costs. Additionally, Lessor shall not be obligated to restore the Premises to an amount in excess of the proceeds obtained from such taking (less expenses incurred in collecting the same). In the event that the condemnation compensation awarded or paid to Lessor upon any partial or total taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five (25%), Landlord may elect to continue the Term of this Lease and to restore, at Landlord’s expense, the remaining Leased Premises to a complete architectural unit with storefront (if applicable), signs and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option insufficient to restore the Leased Premises unless, within thirty (30) days after the date of to nearly its condition immediately prior to such taking, Landlord Lessor shall notify Tenant in writing of its election have the option to terminate this Lease. Landlord Lease within days after Lessor's receipt of net condemnation award and Lessee shall be entitled limited to receive all of consequential damages. The condemnation award paid upon the proceeds of any partial or total or partial taking of the Leased Premises by eminent domainshall belong to and be the property of the Lessor. Under this Lease, including Lessee shall not be prevented from pursuing separate award from condemning authority to cover it's moving expenses, personal property, or for consequential damages, as long as Lessee's award does not in any part of such way reduce the condemnation award as may be attributable granted from condemning authority to the unexpired leasehold interest or other rights of Tenant in the Leased Premises, and Tenant hereby assigns, and transfers to the Landlord all of Tenant’s right to receive any part of such proceedsLessor.

Eminent Domain and Condemnation. If all or (a) If, at any part time prior to Closing, a “material portion” (as hereinafter defined) of the Leased Premises Real Property is taken by or condemned or becomes the subject of any eminent domain (“eminent domain” shall include or condemnation proceeding, or if Seller receives notice from any governmental entity with the right to exercise of any similar the power of taking, and any purchase eminent domain that it desires or acquisition in lieu intends to take a material portion of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authorityReal Property, then the Term Seller shall so notify Purchaser in writing and Purchaser may, at its sole discretion, elect by notice to Seller within ten (10) Business Days after giving of this Lease shall cease as of the date possession shall be taken by the condemning authority, or as of the date improvements are ordered torn down or removed, which every may be applicable, with the Rent Seller’s written notice to be apportioned as of the date of such taking or of such orderPurchaser, as the case may be; providedits sole and exclusive remedy, however, if as a result of a partial taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five either (25%), Landlord may elect to continue the Term of this Lease and to restore, at Landlord’s expense, the remaining Leased Premises to a complete architectural unit with storefront (if applicable), signs and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option to restore the Leased Premises unless, within thirty (30i) days after the date of taking, Landlord shall notify Tenant in writing of its election to terminate this Lease. Landlord Agreement, in which event, Purchaser shall comply with the requirements contained in Section 6.03(d) above and Purchaser shall be entitled to receive all the immediate return of the proceeds Escrowed Funds and, except for those obligations that survive termination of any total this Agreement, this Agreement shall be of no further force and effect and the parties shall have no further rights, obligations or partial taking liabilities hereunder; or (ii) to accept the Real Property subject to said condemnation proceeding or in the condition in which it is left following such condemnation or taking, and receive either the full amount of the Leased Premises by eminent domaincondemnation award that Seller received for the Property (less the reasonable costs, including any part of without limitation attorneys’ fees, incurred by Seller in obtaining such award as may or restoring the Real Property following such condemnation or taking) (but not including any award for any personal property of Seller which was not to be attributable conveyed to Purchaser hereunder) or, if Seller has not received said award on or before the Closing Date, accept an assignment from Seller, in form and content reasonably acceptable to Seller and Purchaser, of Seller’s rights in and to said award (but not including any award for any personal property of Seller which was not to be conveyed to Purchaser hereunder) and the Closing shall occur without an adjustment to the unexpired leasehold interest Purchase Price. If Purchaser does not give a notice pursuant to subsection (i) above on or other rights before ten (10) Business Days after the receipt of Tenant Seller’s written notice to Purchaser of the eminent domain or condemnation proceeding, Purchaser shall be conclusively presumed to have elected to proceed in accordance with subsection (ii) above. The Closing Date shall be extended for the Leased Premises, and Tenant hereby assigns, and transfers period of time necessary to allow Purchaser the Landlord all of Tenant’s right to receive any part of such proceedselection stated in this Section 10.01(a).

Eminent Domain and Condemnation. If all Trustor shall notify Beneficiary immediately of any threatened or any part of the Leased Premises is taken by pending proceeding for eminent domain (“eminent domain” shall include or condemnation affecting the exercise Mortgaged Property or arising out of any similar power of takingdamage to the Mortgaged Property, and any purchase or acquisition in lieu of condemnation), or in the event the improvements are condemned and ordered torn down or removed by lawful authority, then the Term of this Lease shall cease as of the date possession shall be taken by the condemning authority, or as of the date improvements are ordered torn down or removed, which every may be applicable, with the Rent to be apportioned as of the date of such taking or of such order, as the case may be; provided, however, if as a result of a partial taking of the Leased Premises by eminent domain, the Leased Premises is reduced by not more than twenty-five (25%), Landlord may elect to continue the Term of this Lease and to restoreTrustor shall, at LandlordTrustor’s expense, diligently prosecute any such proceedings. Beneficiary shall have the remaining Leased Premises right (but not the obligation) to a complete architectural unit with storefront (if applicable), signs participate in any such proceeding and interior of equal appearance and utility as they had previous to the taking, but there will be prorata reduction of the Base Rent payable each month. Landlord shall be deemed to have exercised its said option to restore the Leased Premises unless, within thirty (30) days after the date of taking, Landlord shall notify Tenant in writing represented by counsel of its election to terminate this Leaseown choice. Landlord Beneficiary shall be entitled to receive all sums which may be awarded or become payable to Trustor for the condemnation of the proceeds of any total Mortgaged Property, or partial taking of the Leased Premises by eminent domain, including any part thereof, for public or quasi-public use, or by virtue of private sale in lieu thereof, and any sums which may be awarded or become payable to Trustor for injury or damage to the Mortgaged Property. Trustor shall, promptly upon request of Beneficiary, execute such award additional assignments and other documents as may be attributable necessary from time to time to permit such participation and to enable Beneficiary to collect and receipt for any such sums. All such sums are hereby assigned to Beneficiary, and shall, after deduction therefrom of all reasonable expenses actually incurred by Beneficiary, including attorneys’ fees, at Beneficiary’s option be (1) released to Trustor, or (2) applied (upon compliance with such terms and conditions as may be required by Beneficiary) to repair or restoration of the Mortgaged Property so affected, or (3) applied to the unexpired leasehold interest payment of the Obligations in such order and manner as Beneficiary, in its sole discretion, may elect whether or other rights not due. In any event the unpaid portion of Tenant the Obligations shall remain in full force and effect and the payment thereof shall not be excused. Beneficiary shall not be, under any circumstances, liable or responsible for failure to collect or to exercise diligence in the Leased Premisescollection of any such sum or for failure to see to the proper application of any amount paid over to Trustor. Beneficiary is hereby authorized, in the name of Trustor, to execute and deliver valid acquittance for, and Tenant to appeal from, any such award, judgment or decree. All costs and expenses (including but not limited to attorneys’ fees) incurred by Beneficiary in connection with any condemnation shall be an Obligation owing by Trustor (which Trustor hereby assigns, and transfers promises to the Landlord all pay on demand of Tenant’s right Beneficiary) to receive any part Beneficiary pursuant to this Deed of such proceedsTrust.