RES 2024040 - Laserfiche WebLink

7 4859-3312-3005v3 shall be deemed to have occurred upon the earlier to occur of (a) the date on which the property, right or interest so taken must be surrendered to the condemning authority, or (b) the date title vested in a condemning authority or other party pursuant to any Taking. “Tenant” means any tenant that has the right to reside in a residential unit in the Project pursuant to a Tenant Lease. “Tenant Lease” means any lease or rental agreement entered into by Lessee with a Tenant. “Term” is defined in Section 2.2 hereof. “Transfer” is defined in the Regulatory Agreement. Section 1.2 Exhibits. The following exhibits are attached hereto and are incorporated into this Lease: Exhibit A: Legal Description of the Land Exhibit B: Form of Memorandum of Lease Exhibit C: Regulatory Agreement Exhibit D: Note ARTICLE 2. LEASE OF THE LAND Section 2.1 Lease of Land. Subject to the terms hereof and in consideration of the covenants of payment and performance stipulated herein, Lessor leases the Land to Lessee, and in consideration thereof, Lessee takes, hires and leases the Land from the Lessor, pursuant to the terms of this Lease. Section 2.2 Term. Unless sooner terminated pursuant to the provisions hereof, this Lease shall continue in full force and effect for a term (“Term”), commencing on the Commencement Date and expiring at midnight the day immediately preceding the seventy-fifth (75th) anniversary thereof. Section 2.3 Use. Subject to the provisions hereof, Lessee shall use the Leased Premises for the rehabilitation and operation of the Project, which includes the redevelopment, construction, and operation of the Improvements on the Land in accordance with the restrictions and requirements set forth in Article 3 hereof. Further, Lessee agrees: (a) not to use the Leased Premises for any disorderly or unlawful purpose; (b) to use reasonable efforts to prevent any Tenant from committing or maintaining any nuisance or unlawful conduct on or about the Leased Premises;