SHALL SUBMIT TO LANDLORD A WRITTEN REQUEST FOR SUCH
FINANCING.
LANDLORD MAY, BUT SHALL BE UNDER NO OBLIGATION TO, OFFER TO PROVIDE
OR ARRANGE SUCH FINANCING.
WITHIN THIRTY (30) DAYS AFTER RECEIPT OF SUCH A
REQUEST FROM TENANT, LANDLORD SHALL NOTIFY TENANT IN WRITING AS TO WHETHER IT
WILL FINANCE THE PROPOSED CAPITAL ADDITION AND, IF SO, THE TERMS AND CONDITIONS
("LANDLORD FINANCING TERMS") UPON WHICH IT WOULD BE WILLING TO DO SO, INCLUDING
THE TERMS OF ANY AMENDMENT TO THIS LEASE AGREEMENT FOR SUCH PROPOSED CAPITAL
ADDITION.
(B)
IF LANDLORD AGREES TO FINANCE THE PROPOSED CAPITAL ADDITION OF
TENANT ON TERMS SATISFACTORY TO TENANT, TENANT SHALL PROVIDE LANDLORD, UNLESS
LANDLORD WAIVES ANY OF THE CLAUSES BELOW, WITH THE FOLLOWING:
(I)
ALL CUSTOMARY OR OTHER REQUIRED LOAN DOCUMENTATION WHICH MAY BE
REQUIRED;
(II)
ANY INFORMATION, CERTIFICATES, LICENSES, PERMITS OR DOCUMENTS
REQUESTED BY EITHER LANDLORD OR ANY LENDER WITH WHOM LANDLORD HAS AGREED OR MAY
AGREE TO PROVIDE FINANCING, WHICH ARE NECESSARY TO CONFIRM THAT TENANT WILL BE
ABLE TO USE THE CAPITAL ADDITION UPON COMPLETION THEREOF IN ACCORDANCE WITH THE
PRIMARY INTENDED USE, INCLUDING ALL REQUIRED, FEDERAL, STATE OR LOCAL GOVERNMENT
LICENSES, PERMITS AND APPROVALS;
(III)
A CERTIFICATE FROM TENANT'S ARCHITECT, SETTING FORTH IN
REASONABLE DETAIL THE PROJECTED (OR ACTUAL, IF AVAILABLE) COST OF THE PROPOSED
CAPITAL ADDITION;
(IV)
AN AMENDMENT TO THIS LEASE AGREEMENT, OR A NEW LEASE AGREEMENT,
DULY EXECUTED AND ACKNOWLEDGED, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
LANDLORD, AND CONTAINING SUCH PROVISIONS AS MAY BE NECESSARY OR APPROPRIATE,
INCLUDING WITHOUT LIMITATION, ANY APPROPRIATE CHANGES IN THE LEGAL DESCRIPTION
OF THE LAND, THE RENT, ANY SECURITY DEPOSIT OR OTHER ESCROW REQUIRED HEREUNDER
AND OTHER CHANGES WITH RESPECT TO THE CAPITAL ADDITION;
(V)
A DEED CONVEYING TITLE TO LANDLORD TO ANY LAND ACQUIRED FOR THE
PURPOSE OF CONSTRUCTING THE CAPITAL ADDITION, FREE AND CLEAR OF ANY LIENS OR
ENCUMBRANCES EXCEPT THOSE APPROVED BY LANDLORD AND, BOTH PRIOR TO AND FOLLOWING
COMPLETION OF THE CAPITAL ADDITION, AN AS-BUILT SURVEY THEREOF SATISFACTORY TO
LANDLORD;
(VI)
ENDORSEMENTS TO ANY OUTSTANDING POLICY OF TITLE INSURANCE COVERING
THE LEASED PROPERTY OR THE LAND OR A SUPPLEMENTAL POLICY OF TITLE INSURANCE
COVERING THE LEASED PROPERTY OR THE LAND SATISFACTORY IN FORM AND SUBSTANCE TO
LANDLORD (A) UPDATING THE SAME WITHOUT ANY ADDITIONAL EXCEPTIONS, EXCEPT AS MAY
BE PERMITTED BY LANDLORD; AND (B) INCREASING THE COVERAGE THEREOF BY AN AMOUNT
EQUAL TO THE FAIR MARKET VALUE OF THE CAPITAL ADDITION;
(VII)
IF REQUIRED BY LANDLORD, (A) AN OWNER'S POLICY OF TITLE INSURANCE
INSURING FEE SIMPLE TITLE TO ANY LAND CONVEYED TO LANDLORD PURSUANT TO
SECTION 9.09(B)(V), FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES EXCEPT THOSE
APPROVED BY LANDLORD AND (B) A LENDER'S POLICY OF TITLE
27
INSURANCE SATISFACTORY IN FORM AND SUBSTANCE TO LANDLORD AND ANY LENDING
INSTITUTION ADVANCING A PORTION OF THE COST OF THE CAPITAL ADDITION;
(VIII)
IF REQUIRED BY LANDLORD, UPON COMPLETION OF THE CAPITAL ADDITION;
AN MAI APPRAISAL OF THE LEASED PROPERTY AND THE LAND INDICATING THAT THE VALUE