Owner’s Right to Declare Default and/or Terminate Contract for Cause.
Owner’s Right. You must reimburse Owner for any of the following fees and expenses incurred by Owner:
Owner’s Right to Partial Occupancy {moved from Section 2.3 to Section 6.28}
Owner’s Right. To Perform Work And to Award Separate Contracts; and Cooperation with Separate Contractors 45 ARTICLE XXVII Equal Opportunity 45 ARTICLE XXVIII Claims For Damages 46
Owner’s Right to Stop the Work If Contractor fails to correct Work that is not in accordance with the Contract Documents, Owner may direct Contractor in writing to stop the Work until the correction is made.
Owner’s Right to Carry Out the Work If the Contractor defaults or neglects to carry out the Work in accordance with the Contract Documents and fails within a ten-day period after receipt of notice from the Owner to commence and continue correction of such default or neglect with diligence and promptness, the Owner may, without prejudice to other remedies the Owner may have, correct such default or neglect. In such case an appropriate Change Order shall be issued deducting from payments then or thereafter due the Contractor the reasonable cost of correcting such deficiencies, including Owner’s expenses and compensation for the Architect’s and Tectonic’s additional services made necessary by such default, neglect, or failure. If payments then or thereafter due the Contractor are not sufficient to cover such amounts, the Contractor shall pay the difference to the Owner.
Owner’s Right to Perform Construction and to Award Separate Contracts constr ean th uctio e in coordinat
Owner’s Right to Carry Out the Work If the Contractor defaults or neglects to carry out the Work in accordance with the Contract Documents, and fails within a ten-day period after receipt of notice from the Owner to commence and continue correction of such default or neglect with diligence and promptness, the Owner, may immediately and without further notice, without prejudice to any other remedies the Owner may have, correct such deficiencies and deduct the reasonable cost thereof, including Owner’s expenses and compensation for the Architect’s services and attorneys’ fees made necessary thereby, from the payment then or thereafter due the Contractor.
Owner’s Right. To Audit Owner shall have the right to request periodic audits of all applicable accounts managed by Agent, and the cost of such audit(s) shall be paid by Owner. SECTION 7 ADVERTISING Agent is authorized to advertise the Premises or portions thereof for rent, using periodicals, signs, plans, brochures, or displays, or such other means as Agent may deem proper and advisable. Agent is authorized to place signs on the Premises advertising the Premises for rent, provided such signs comply with applicable laws. The cost of such advertising shall be paid out of the Operating (and/or) Reserve Account(s). All advertising shall make clear that Agent is the manager and NOT the Owner of the Premises. Newspaper ads that share space with other properties managed by the Agent shall be prorated based on: Actual lineage of the ad devoted to the Owner’s property plus a prorated share of any headlines and/or signature lines. SECTION 8 LEASING AND RENTING 8.1 Agent’s Authority To Lease Premises Agent shall use all reasonable efforts to keep the Premises rented by procuring tenants for the Premises. Agent is authorized to negotiate, prepare, and execute all leases, including all renewals and extensions of leases (and expansions of space in the Premises, if applicable) and to cancel and modify existing leases. Agent shall execute all leases as agent for the Owner. All costs of leasing shall be paid out of the Operating (and/or) Reserve Account(s). No lease shall be in excess of year(s) without written approval by Owner. The form of the lease shall be agreed upon by Owner and Agent. 8.2
Owner’s Right to Suspend Performance or to Terminate the Agreement. Owner shall have the right to terminate this Agreement, in addition to all other remedies available to it under law and in equity, if Operator (a) breaches in any material respect any of its obligations under this Agreement and such breach has not been cured within thirty (30) days after written notice of such breach to Operator; (b) is or becomes insolvent or bankrupt or ceases to pay its debts as they become due or consents to or acquiesces in the appointment of a receiver, trustee or liquidator for a substantial part of its property; (c) institutes a voluntary bankruptcy, winding up, reorganization, insolvency or similar proceeding; (d) has an involuntary bankruptcy, winding up, reorganization, insolvency or similar proceeding instituted against it that is not stayed, dismissed or terminated within ninety (90) days after commencement; or (e) ceases to carry on its business.
