Common use of Payment for Alterations Clause in Contracts

Payment for Alterations. Tenant shall (i) comply with, or cause its contractor and subcontractors to comply with, ▇▇▇▇▇▇▇▇’s requirements for final lien releases and waivers in connection with Tenant’s payment for work to contractors, (ii) sign, and cause the general contractor and any other contractors with which Tenant has directly contracted to sign, Landlord’s standard contractor’s rules and regulations, (iii) upon completion of any Alteration, promptly furnish Landlord with final sworn owner’s and contractors’ statements and full and final waivers of lien covering all labor and materials included in the Alteration, and (iv) deliver to Landlord, promptly after ▇▇▇▇▇▇▇▇’s request, information and documentation that Landlord reasonably requests from time to time in connection with any Alterations. In addition, Tenant shall, if requested by ▇▇▇▇▇▇▇▇, deliver to Landlord monthly, while the Alterations are ongoing, copies of lien waivers, owner’s and contractor’s sworn statements and architect certifications for all amounts sought by Tenant’s contractors and material suppliers in connection with those Alterations for the prior month. If Tenant orders any work directly from Landlord, Tenant shall, in addition to reimbursing Landlord for all costs of that work, pay to Landlord an amount equal to five percent of the cost of that work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord’s involvement with that work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord’s reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with ▇▇▇▇▇▇▇▇’s review of that work (and Landlord shall provide Tenant with documentation reasonably evidencing those costs and expenses upon request). At Landlord’s option, prior to commencing any Alterations, (a) Tenant shall pay to Landlord the reasonably anticipated cost thereof, which Landlord shall disburse during construction pursuant to Landlord’s standard, commercially reasonable disbursement procedures (and Tenant shall be directly responsible for any costs of the Alterations in excess of the amount paid to Landlord), and, (b) if required by Landlord in its discretion, Tenant shall obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of the Alterations and naming Landlord as a co-obligee.

Payment for Alterations. Tenant shall pay directly to Tenant’s Contractor all costs of any Alterations as per Tenant’s construction agreement with such Contractor, so that the Property shall always be free of liens for labor or materials. If any such lien shall exist, Tenant shall, within twenty (i20) comply withdays after the filing of such lien, have such lien discharged of record or cause its contractor obtain a recordable bond in form, amount, and subcontractors issued by a surety reasonably satisfactory to comply withLandlord, ▇▇▇▇▇▇▇▇’s requirements indemnifying Landlord and any Mortgagee against all costs and liabilities resulting from such lien and the foreclosure or attempted foreclosure thereof. If Tenant fails to have such lien so released or to obtain such bond, Landlord or the Mortgagee, without investigating the validity of such lien, may pay or discharge the same; and Tenant shall reimburse Landlord or the Mortgagee, as applicable, upon demand for final lien releases the amount so paid by Landlord or the Mortgagee, including expenses and waivers attorneys’ fees. Tenant hereby indemnifies Landlord against liability for any mechanics’ and other liens filed in connection with Tenant’s payment for work to contractorsthe costs of any and all Alterations, (ii) signincluding the liens of any chattel mortgages, security agreements or financing statements upon any materials or fixtures installed in and cause constituting part of the general contractor and any other contractors with which Tenant has directly contracted to signPremises. Finally, Landlord’s standard contractor’s rules and regulations, (iii) upon completion of any AlterationAlteration costing in excess of $25,000, Tenant shall, upon Landlord’s request, promptly furnish Landlord with final sworn owner’s and contractors’ statements and full and final waivers of lien in form and substance satisfactory to Landlord covering all labor and materials included in the such Alteration, and (iv) deliver to Landlord, promptly after ▇▇▇▇▇▇▇▇’s request, information and documentation that Landlord reasonably requests from time to time in connection with any Alterations. In addition, Tenant shall, if requested by ▇▇▇▇▇▇▇▇, deliver to Landlord monthly, while the Alterations are ongoing, copies of lien waivers, owner’s and contractor’s sworn statements and architect certifications for all amounts sought by Tenant’s contractors and material suppliers in connection with those Alterations for the prior month. If Tenant orders any work directly from Landlord, Tenant shall, in addition to reimbursing Landlord for all costs of that work, pay to Landlord an amount equal to five percent of the cost of that work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord’s involvement with that work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord’s reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with ▇▇▇▇▇▇▇▇’s review of that work (and Landlord shall provide Tenant with documentation reasonably evidencing those costs and expenses upon request). At Landlord’s option, prior to commencing any Alterations, (a) Tenant shall pay to Landlord the reasonably anticipated cost thereof, which Landlord shall disburse during construction pursuant to Landlord’s standard, commercially reasonable disbursement procedures (and Tenant shall be directly responsible for any costs of the Alterations in excess of the amount paid to Landlord), and, (b) if required by Landlord in its discretion, Tenant shall obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of the Alterations and naming Landlord as a co-obligee.

Payment for Alterations. Tenant shall pay, no later than the date for payment under Tenant’s construction agreement with Tenant’s contractor, directly to Tenant’s Contractor all costs of any Alterations, so that the Property shall always be free of liens for labor or materials. If any such lien shall exist, Tenant shall, within ten (i10) comply withdays after the filing of such lien, (or cause its contractor such shorter period if required by the terms of any Mortgage) have such lien discharged of record or deliver to Landlord a recordable bond in form, amount, and subcontractors issued by a surety reasonably satisfactory to comply withLandlord, ▇▇▇▇▇▇▇▇’s requirements indemnifying Landlord and the holder of any Mortgage (a “Mortgagee”) against all out-of-pocket costs and liabilities resulting from such lien and the foreclosure or attempted foreclosure thereof. If Tenant fails to have such lien so released or to deliver such bond to Landlord, Landlord or the Mortgagee, without investigating the validity of such lien, may pay or discharge the same; and Tenant shall reimburse Landlord or the Mortgagee, as applicable, within ten (10) days of demand for final lien releases the amount so paid by Landlord or the Mortgagee, including expenses and waivers attorneys’ fees. Tenant hereby indemnifies Landlord against liability for any mechanics’ and other liens filed in connection with Tenant’s payment for work to contractorsthe costs of any and all Alterations, (ii) signincluding the liens of any chattel mortgages, security agreements or financing statements upon any materials or fixtures installed in and cause constituting part of the general contractor and any other contractors with which Tenant has directly contracted to signLeased Premises. Finally, Landlord’s standard contractor’s rules and regulations, (iii) upon completion of any Alteration, Tenant shall promptly furnish Landlord with final sworn ownercontractor’s and contractors’ statements and acknowledgements of payment in full and final waivers of lien in form required by statute covering all labor and materials included in the such Alteration. Indemnification Tenant agrees to indemnify and hold Landlord harmless from all claims for bodily injury and property damage that may arise from Tenant’s or any Tenant Contractor’s performance of any Alterations as defined in Section 1 of Exhibit C to this Lease and/or Tenant Work as defined in Section 8 of this Lease, and (iv) deliver to but excluding claims resulting from Landlord, promptly after ▇▇▇▇▇▇▇▇’s request, information and documentation that Landlord reasonably requests from time to time in connection with any Alterationsnegligence or willful misconduct. In addition, Tenant’s Liability Insurance Tenant shall, if requested by ▇▇▇▇▇▇▇▇or shall cause Tenant Contractors to, deliver to Landlord monthly, while purchase and maintain such insurance as will protect Tenant from the Alterations are ongoing, copies claims set forth below which may arise out of lien waivers, owner’s and contractor’s sworn statements and architect certifications for all amounts sought by Tenant’s contractors and material suppliers in connection with those Alterations for the prior month. If Tenant orders any work directly or result from Landlord, Tenant shall, in addition to reimbursing Landlord for all costs of that work, pay to Landlord an amount equal to five percent of the cost of that work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord’s involvement with that work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord’s reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with ▇▇▇▇▇▇▇▇’s review of that work (and Landlord shall provide Tenant with documentation reasonably evidencing those costs and expenses upon request). At Landlord’s option, prior to commencing any Alterations, including Tenant Work, whether such Alterations/Tenant Work be completed by Tenant or by any Tenant Contractor or by any person directly or indirectly employed by Tenant or any Tenant Contractor, or by any person for whose acts Tenant or any Tenant Contractor may be liable: 1. Claims under workers’ compensation, disability benefit and other similar employee benefit acts which are applicable to the Alterations to be performed. 2. Claims for damages because of bodily injury, occupational sickness or disease, or death of employees under any applicable employer’s liability law. 3. Claims for damages because of bodily injury, or death of any person other than Tenant’s or Tenant Contractor’s employees. 4. Claims for damages insured by usual personal injury liability coverage which are sustained (a) by any person as a result of an offense directly or indirectly related to the employment of such person by the Tenant shall pay to Landlord the reasonably anticipated cost thereof, which Landlord shall disburse during construction pursuant to Landlord’s standard, commercially reasonable disbursement procedures (and or Tenant shall be directly responsible for any costs of the Alterations in excess of the amount paid to Landlord), and, Contractor or (b) if required by Landlord in its discretion, Tenant shall obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of the Alterations and naming Landlord as a co-obligeeany other person.