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Finance and Administration Committee - IX. Agreements for Development of the Cherokee Farm Research Park - Action16.16 Memorandum of Master Ground Lease. University and Tenant shall execute andacknowledge a Memorandum of Master Ground Lease for purpose of recordation. ThisMemorandum of Master Ground Lease shall be in the form attached hereto as Exhibit “D” andincorporated herein by reference.16.17 No Merger. There shall be no merger of this Lease or the leasehold estate createdhereby with the fee simple estate in the Premises or any part thereof, by reason of the fact thatthe same person or entity may acquire, own or hold, directly or indirectly, this Lease or theleasehold estate created hereby or any interest in this Lease or such leasehold estate, and the feesimple estate in the Premises or any interest in such fee simple estate; and this Lease shall not beterminated except as expressly provided herein.716.18 Authorization and Approvals. University and Tenant represent each to the other,that each has obtained all necessary approvals and authorizations from their respectiveBoards/governing entity for the execution of this Lease; provided further, University shall not bebound by this Lease until all appropriate State officials have approved, as shown by thesignatures below.16.19 Limitation of Liability. Neither University, nor Tenant, nor any officer, director,shareholder, partner, employee or principal of University or Tenant, shall be under any personalliability with respect to any of the provisions of this Lease. In the event University is in breachor default with respect to University’s obligations or otherwise under this Lease, Tenant shalllook solely to the interest of University in the Land and the Projects for the satisfaction ofTenant’s remedies. In the event Tenant is in breach or default with respect to Tenant’sobligations or otherwise under this Lease, University shall look solely to the interest of Tenant inthe Leasable Property and the Projects for the satisfaction of University’s remedies.16.20 Consent of University. Whenever it is stated in this Lease that University’sconsent or approval is required, the President of the University has the authority to give suchconsent or approval.16.21 Exhibits. Exhibits “A” through “D” attached hereto are by this referenceincorporated herein and made a part hereof.[signatures on following page]8088569.13 16179
Finance and Administration Committee - IX. Agreements for Development of the Cherokee Farm Research Park - ActionIN WITNESS WHEREOF, this Lease has been executed as of the Effective Date.UNIVERSITY:THE UNIVERSITY OF TENNESSEEBy: ______________________________Joseph A. DiPietroPresident7STATE OF ______________)COUNTY OF __________ )Before me, the undersigned, a Notary Public of the State and County aforesaid,personally appeared, Joseph A. DiPietro, with whom I am personally acquainted (or proved tome on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be thePresident of The University of Tennessee, and that he executed the foregoing instrument for thepurposes therein contained.WITNESS my hand, at office, this ___ day of ___________, 2012.Notary PublicMy Commission Expires:[additional signatures on following pages]8088569.13 17180
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