Common use of Structured Parking Clause in Contracts

Structured Parking. Landlord or its affiliates may elect to build structured parking (“Structured Parking”) on the Property or within the Project, which determination shall be made by Landlord and its affiliates in their sole discretion. If Landlord or its affiliates elects to build Structured Parking, Landlord shall provide Tenant with not less than sixty (60) days advanced written notice of such election (the “Parking Notice”). The Parking Notice shall identify: (a) the location of the proposed Structured Parking facility on the Property; (b) the proposed commencement date and construction period for the Structured Parking (the “Construction Period”); (c) the number of parking stalls located on the existing parking facilities that will be unavailable to the Tenant during the construction period (the “Displaced Parking Stalls”); and (d) alternative temporary parking stalls that Landlord will make available for Tenant’s use during the Construction Period (the “Temporary Parking Stalls”). The number of Temporary Parking Stalls provided by Landlord shall be equal to or greater than the Displaced Parking Stalls and, in the event the Temporary Parking Stalls are located more than 1,000 feet from the Building, Landlord shall provide a parking shuttle from the Building to the Temporary Parking Stalls during Tenant’s regular operating hours, provided, such Temporary Parking Stalls shall not be located more than one and one-half (1.5) miles from the Project. Upon completion of the Structured Parking, Landlord shall have no further obligation to provide the Temporary Parking Stalls, provided, to the extent such Structured Parking has permanently removed surface parking stalls on the Property, Tenant shall be entitled to use, at no additional charge, the same number of parking stalls within the Structured Parking that were removed from the Property. In no event shall Landlord’s election to construct the Structured Parking or the Landlord’s requirement that Tenant’s use the Temporary Parking Stalls during the Construction Period constitute a default by Landlord under this Lease.