Finance and Administration - Board of Trustees - The University of ...

Finance and Administration Committee - IX. Agreements for Development of the Cherokee Farm Research Park - Actionright, title and interest of a Subtenant, may, without the further consent ofUniversity or Tenant, be assigned to and vested in the Leasehold Mortgagee, itsassignee or any purchaser at foreclosure, and that upon further assignment or saleby Leasehold Mortgagee, such Leasehold Mortgagee is released from all liabilityfor obligations as Tenant under this Lease.(v) Further Assurances. Further, subject to the foregoing, Universityagrees to execute any documents (in form and substance reasonably satisfactoryto University), including without limitation, Consents to Assignment of Leases,Landlord’s Agreements with Lender, Non-Disturbance Agreements and EstoppelCertificates, which may be reasonably required by any Leasehold Mortgagee toloan money to Tenant or to a Subtenant to construct the Projects and perfect asecurity interest by lender in Tenant’s or Subtenant’s (as the case may be)leasehold interest in the Premises.7c. Leasehold Mortgage Provisions in Subleases. Tenant shall have theauthority to enter into subleases that contain covenants consistent with this Section 6.3for the benefit of Subtenants and their lenders.7. MAINTENANCE.(a) Tenant agrees that it will, throughout the Term, maintain or cause to bemaintained the Premises, the Projects and appurtenances thereto and every part thereof, in goodorder, condition and repair, ordinary wear and tear excepted, free of health and safety hazards,and in accordance with all applicable laws, rules, ordinances, order and regulations of allgovernmental authorities.(b) University agrees that it will, throughout the Term, maintain the RetainedProperty and the Expansion Premises, including (i) maintaining the roadways, access drives,curb cuts and all other paved surfaces located thereon in a smooth and evenly covered condition,including, without limitation, making any necessary replacement of base, skin patch, resurfacing,restriping and resealing, and (ii) maintaining the grounds, lawns and landscaping located thereonin good and sightly condition. Notwithstanding the foregoing, it is contemplated that the cost ofmaintaining any such areas that are deemed “common areas” will be borne by Subtenants inproportion to the area subleased, as more particularly set forth in each respective Sublease.University will be responsible for all such costs of maintenance in excess of the amountscontributed by Subtenants.(c) If University fails to perform any of the foregoing obligations, and such failurecontinues for more than thirty (30) days after written notice by Tenant to University, Tenantmay, but shall not be obligated to, perform the obligation of University under this Lease thatUniversity has failed to perform. In the case of an emergency, Tenant shall have the right tomake such temporary, emergency repairs as may be reasonably necessary to prevent imminentdamage to the equipment, inventory or property of Tenant (or its Subtenants), or injury topersons, even if University otherwise bears the obligation to make such repairs under this Lease.The reasonable, documented cost of Tenant’s performance in order to cure a University default,or to carry out emergency repairs, shall be paid by University to Tenant within thirty (30) days8088569.13 7170