THAN FIFTY THOUSAND DOLLARS ($50,000.00), ADJUSTED FOR CPI.
7.3
LESSOR TO GRANT EASEMENTS, ETC.
LESSOR
WILL, FROM TIME TO TIME, SO LONG AS NO EVENT OF DEFAULT HAS OCCURRED AND IS
CONTINUING, AT THE REQUEST OF LESSEE AND AT LESSEE'S COST AND
19
EXPENSE (BUT SUBJECT TO THE APPROVAL OF LESSOR, WHICH APPROVAL SHALL NOT BE
UNREASONABLY WITHHELD OR DELAYED), (A) GRANT EASEMENTS AND OTHER RIGHTS IN THE
NATURE OF EASEMENTS WITH RESPECT TO THE LEASED PROPERTY TO THIRD PARTIES, (B)
RELEASE EXISTING EASEMENTS OR OTHER RIGHTS IN THE NATURE OF EASEMENTS WHICH ARE
FOR THE BENEFIT OF THE LEASED PROPERTY, (C) DEDICATE OR TRANSFER UNIMPROVED
PORTIONS OF THE LEASED PROPERTY FOR ROAD, HIGHWAY OR OTHER PUBLIC PURPOSES, (D)
EXECUTE PETITIONS TO HAVE THE LEASED PROPERTY ANNEXED TO ANY MUNICIPAL
CORPORATION OR UTILITY DISTRICT, (E) EXECUTE AMENDMENTS TO ANY COVENANTS AND
RESTRICTIONS AFFECTING THE LEASED PROPERTY AND (F) EXECUTE AND DELIVER TO ANY
PERSON ANY INSTRUMENT APPROPRIATE TO CONFIRM OR EFFECT SUCH GRANTS, RELEASES,
DEDICATIONS, TRANSFERS, PETITIONS AND AMENDMENTS (TO THE EXTENT OF ITS INTERESTS
IN THE LEASED PROPERTY), BUT ONLY UPON DELIVERY TO LESSOR OF A CERTIFICATE FROM
LESSEE STATING THAT SUCH GRANT, RELEASE, DEDICATION, TRANSFER, PETITION OR
AMENDMENT IS NOT DETRIMENTAL TO THE PROPER CONDUCT OF THE BUSINESS OF LESSEE ON
THE LEASED PROPERTY AND DOES NOT MATERIALLY REDUCE THE VALUE OF THE LEASED
PROPERTY.
7.4
INVENTORY; SUPPLIES; LESSEE'S PERSONAL
PROPERTY.
(A)
UPON COMMENCEMENT OF THE TERM, LESSOR SHALL
TRANSFER TO LESSEE ALL NONCONSUMABLE INVENTORY AND CONSUMABLE SUPPLIES LOCATED
AT THE FACILITY ON THE COMMENCEMENT DATE (THE "INITIAL INVENTORY").
ON THE
COMMENCEMENT DATE, LESSEE SHALL BE REQUIRED TO ENSURE THAT THE LEASED PROPERTY
CONTAINS (I) A SUFFICIENT AMOUNT OF CONSUMABLE SUPPLIES AND NON-CONSUMABLE
INVENTORY AND (II) A REASONABLY ADEQUATE AMOUNT OF KITCHEN EQUIPMENT, BAR
EQUIPMENT, REFRIGERATION EQUIPMENT, FURNITURE, FURNISHINGS, COLOR TELEVISION
SETS, CARPETS, DRAPES, RUGS, FLOOR COVERINGS, MATTRESSES, PILLOWS, BEDSPREADS
AND THE LIKE, IN EACH CASE, TO FURNISH EACH GUEST ROOM SUBSTANTIALLY CONSISTENT
WITH FIRST CLASS OPERATING STANDARDS AND IS OTHERWISE REASONABLY REQUIRED TO
OPERATE THE LEASED PROPERTY IN THE MANNER CONTEMPLATED BY THIS LEASE AND IN
COMPLIANCE WITH FIRST CLASS OPERATING STANDARDS AND ALL LEGAL REQUIREMENTS
(PROVIDED THAT LESSOR SHALL NOT BE REQUIRED TO PROVIDE, AT COMMENCEMENT OF THE
TERM OR OTHERWISE, ANY ITEMS TO BE FURNISHED PURSUANT TO THE DEVELOPMENT
AGREEMENTS).
THROUGHOUT THE TERM, LESSEE SHALL BE REQUIRED TO MAINTAIN
INVENTORY CONSISTENT WITH FIRST CLASS OPERATING STANDARDS AND AS IS OTHERWISE
REQUIRED TO OPERATE THE LEASED PROPERTY IN THE MANNER CONTEMPLATED BY THIS LEASE
AND IN COMPLIANCE WITH ALL LEGAL REQUIREMENTS.
ALL INVENTORY SHALL BE THE
PROPERTY OF LESSEE, SUBJECT TO LESSEE'S OBLIGATIONS UNDER SECTION 7.4(B).
LESSEE MAY (AND SHALL AS PROVIDED HEREINBELOW), AT ITS EXPENSE, INSTALL, AFFIX
OR ASSEMBLE OR PLACE ON ANY PARCELS OF THE LAND OR IN ANY OF THE LEASED
PROPERTY, ANY ITEMS OF PERSONAL PROPERTY (INCLUDING INVENTORY) OWNED BY LESSEE
(COLLECTIVELY, THE "LESSEE'S PERSONAL PROPERTY").
LESSEE MAY, SUBJECT TO THE
SECOND SENTENCE OF THIS SECTION 7.4(A) AND THE CONDITIONS SET