SHALL HAVE THE RIGHT TO PROTEST ANY REAL ESTATE TAX, PILOT OR ASSESSMENT
OR TO COMMENCE ANY CERTIORARI PROCEEDING IN CONNECTION THEREWITH.
(B)
FOLLOWING THE OCCURRENCE OF AN EVENT OF DEFAULT WITH RESPECT TO
THE TIMELY PAYMENT OF ANY IMPOSITIONS OR INSURANCE PREMIUMS, AS THE CASE MAY BE,
IN ACCORDANCE WITH THE TERMS OF THIS LEASE OR THE CONDOMINIUM DOCUMENTS, UPON
THE WRITTEN REQUEST OF LANDLORD, TENANT SHALL PAY INTO AN ESCROW ACCOUNT
CONTROLLED BY LANDLORD (OR LENDER, AS THE CASE MAY BE), FUNDS NECESSARY TO PAY
ESCROW CHARGES (AS HEREIN DEFINED), IN SUCH AMOUNTS (EACH AN "ESCROW PAYMENT")
MONTHLY (OR ON SUCH OTHER PERIODIC BASIS AS REQUIRED BY SUCH LENDER, BUT NOT
MORE OFTEN THAN MONTHLY) SO THAT THERE SHALL BE IN AN ESCROW ACCOUNT AN AMOUNT
SUFFICIENT TO PAY THE ESCROW CHARGES (AS HEREINAFTER DEFINED) AS THEY BECOME
DUE.
AS USED HEREIN, "ESCROW CHARGES" SHALL MEAN REAL ESTATE TAXES, PILOT,
AND/OR ASSESSMENTS ON OR WITH RESPECT TO THE LEASED PREMISES AND PREMIUMS ON ANY
INSURANCE REQUIRED BY THIS LEASE; PROVIDED THAT ESCROW CHARGES FOR PREMIUMS ON
ANY INSURANCE REQUIRED BY THIS LEASE SHALL NOT BE SUBJECT TO ESCROW PAYMENT
HEREUNDER UNLESS AT THE TIME IN QUESTION TENANT CARRIES A SEPARATE POLICY OR HAS
AN INDENTIFIED PREMIUM AND COVERAGE LIMITS APPLICABLE SOLELY TO THE LEASED
PREMISES.
LANDLORD SHALL REASONABLY DETERMINE THE AMOUNT OF THE ESCROW CHARGES
(IT BEING AGREED THAT IF REQUIRED BY A LENDER, SUCH AMOUNTS SHALL EQUAL ANY
CORRESPONDING ESCROW INSTALLMENTS REQUIRED TO BE PAID BY LANDLORD) AND THE
AMOUNT OF EACH ESCROW PAYMENT.
AS LONG AS THE ESCROW PAYMENTS ARE BEING HELD BY
LANDLORD THE ESCROW PAYMENTS SHALL NOT BE COMMINGLED WITH OTHER FUNDS OF
LANDLORD OR OTHER PERSONS AND INTEREST THEREON SHALL ACCRUE FOR THE BENEFIT OF
TENANT FROM THE DATE SUCH MONIES ARE RECEIVED AND INVESTED UNTIL THE DATE SUCH
MONIES ARE DISBURSED TO PAY ESCROW CHARGES.
LANDLORD SHALL APPLY THE ESCROW
PAYMENTS TO THE PAYMENT OF THE ESCROW CHARGES IN SUCH ORDER OR PRIORITY AS
LANDLORD SHALL DETERMINE OR AS REQUIRED BY LAW.
IF AT ANY TIME THE ESCROW
PAYMENTS THERETOFORE PAID TO LANDLORD SHALL BE INSUFFICIENT FOR THE PAYMENT OF
THE ESCROW CHARGES, TENANT, WITHIN TEN (10) BUSINESS DAYS AFTER LANDLORD'S
DEMAND THEREFOR, SHALL PAY THE AMOUNT OF THE DEFICIENCY TO LANDLORD.
10.
Compliance with Laws and Easement Agreements, Environmental
Matters.
(A)
TENANT SHALL, AT ITS EXPENSE, COMPLY WITH AND CONFORM TO, AND
CAUSE THE LEASED PREMISES AND ANY OTHER PERSON OCCUPYING ANY PART OF THE LEASED
PREMISES TO COMPLY WITH AND CONFORM TO, ALL INSURANCE REQUIREMENTS AND LEGAL
REQUIREMENTS (INCLUDING ALL APPLICABLE ENVIRONMENTAL LAWS).
TENANT SHALL USE
ALL COMMERCIALLY REASONABLE EFFORTS (INCLUDING CASTING ALL AFFIRMATIVE VOTES
WITH RESPECT THERETO) TO CAUSE THE CONDOMINIUM BOARD AND THE NYTC BOARD TO TAKE
ALL ACTION NECESSARY OR APPROPRIATE TO MAINTAIN THE UNIT AND THE CONDOMINIUM AS
A VALIDLY EXISTING CONDOMINIUM UNDER THE TERMS OF AND IN COMPLIANCE WITH THE
CONDOMINIUM ACT, AND SHALL NOT ALLOW THE LEASED PREMISES TO BE OR BECOME A PART