RES 03043 - Laserfiche WebLink

ATTACHMENT A 2.2 I e. aqe Term The term of this Lease shall commence on the date of this Lease as set forth above and shall continue fi.om such date until the expiration of fifty-five (55) years, unless earlier terminated in accordance with tbJs Lease. 2.3 Gm]md Rent C'harge~ The Lessee shall pay to the Lessor rent in the amount of Fifty-Five Dollars ($55). which shall represent payment of rent equal to One Dollar (S 1) per year for the Lease Term, payable one time only upon execution of this Lease. 2.4 1 ~e nf Pr~eet and A;~urance~ rift e~ee The Lessor and the Lessee understand and agree that the rent has been set at a nominal amount for the specific purpose of assisting the Lessee to operate and maintain the Project. In consideration of the nominal amount of the rent and the other financial assistance from the Lessor to the Lessee, the Lessee shall use the land and operate the Project in accordance with the uses outlined in this Lease. The Lessee agrees: (a) to operate the Improvements as an assisted living facility in accordance with the terms of the Lessee's state license, the City Regulatory Agreement. and this Lease; (b) to maintain the character of the Project as required by any Loan Documents, for so long as such Loan Documents remain in effect: (c) to select Residents in accordance with preferences acceptable to the Lessor: (d) to provide accommodation for one Very Low Income Resident who is a Dementia Resident; (e) not to use the Project for any disorderly or unlawful purpose: (f) to use commercially reasonable efforts to prevent any Resident from committing or maintaining any nuisance or unlawful conduct on or about the Project; (g) to use commercially reasonable efforts to prevent any Resident from violating any of the covenants and conditions of this Lease with respect to the Project; (h) to take commercially reasonable action, if necessary, to abate any violation of this Lease by any Resident upon notice from the Lessor; and 5 144\105\153233.13