THE DATE OF PAYMENT BY TENANT, SUCH REIMBURSEMENT TO BE
MADE WITHIN TWENTY (20) DAYS AFTER RECEIPT BY TENANT OF A WRITTEN STATEMENT FROM
LANDLORD AS TO THE AMOUNT OF SUCH COSTS. TENANT SHALL INDEMNIFY AND HOLD
LANDLORD HARMLESS FROM AND AGAINST ALL COSTS (INCLUDING, WITHOUT LIMITATION,
ATTORNEYS= FEES AND DISBURSEMENTS AND COSTS OF SUIT), LOSSES, LIABILITIES OR
CAUSES OF ACTION ARISING OUT OF OR RELATING TO ANY ALTERATION, INCLUDING,
WITHOUT LIMITATION, ANY MECHANICS= OR OTHER LIENS ASSERTED IN CONNECTION WITH
SUCH ALTERATION.
(K)
TENANT SHALL DELIVER TO LANDLORD, WITHIN SIXTY (60) DAYS AFTER THE
COMPLETION OF AN ALTERATION COSTING IN EXCESS OF $50,000, "AS-BUILT" DRAWINGS
THEREOF.
DURING THE TERM, TENANT SHALL KEEP RECORDS OF ALTERATIONS COSTING IN
EXCESS OF $50,000 INCLUDING PLANS AND SPECIFICATIONS, COPIES OF CONTRACTS,
INVOICES, EVIDENCE OF PAYMENT AND ALL OTHER RECORDS CUSTOMARILY MAINTAINED IN
THE REAL ESTATE BUSINESS RELATING TO ALTERATIONS AND THE COST THEREOF AND SHALL,
WITHIN THIRTY (30) DAYS AFTER DEMAND BY LANDLORD, FURNISH TO LANDLORD COPIES OF
SUCH RECORDS.
(L)
ALL ALTERATIONS TO AND FIXTURES INSTALLED BY TENANT IN THE
PREMISES (OTHER THAN TENANT'S PROPERTY) SHALL BE FULLY PAID FOR BY TENANT IN
CASH AND NOT BE SUBJECT TO CONDITIONAL BILLS OF SALE, CHATTEL MORTGAGES, OR
OTHER TITLE RETENTION AGREEMENTS.
26
10.3
RESTORATION OBLIGATIONS.
(A)
LANDLORD SHALL HAVE THE RIGHT TO
REQUIRE TENANT TO RESTORE THE PREMISES OR ANY PORTION OR COMPONENT THEREOF,
INCLUDING ANY BUILDING SYSTEM OR ANY PORTION OR COMPONENT THEREOF, AFFECTED BY
ANY ALTERATION TO ITS CONDITION PRIOR TO THE COMMENCEMENT OF SUCH ALTERATION,
WHICH RESTORATION TENANT SHALL HAVE THE OBLIGATION TO COMPLETE BY NO LATER THAN
THE EXPIRATION DATE.
LANDLORD SHALL NOTIFY TENANT IN WRITING AT THE TIME OF
LANDLORD'S APPROVAL OF THE ALTERATIONS, AS APPLICABLE, WHETHER OR NOT THE
PROPOSED ALTERATIONS WILL BE REQUIRED TO BE REMOVED BY TENANT AT THE END OF THE
TERM.
TENANT SHALL HAVE NO OBLIGATION TO REMOVE ANY ALTERATIONS THAT LANDLORD
HAS NOT DESIGNATED IN WRITING FOR REMOVAL.
TENANT SHALL REPAIR OR PAY THE COST
OF REPAIRING ANY DAMAGE TO THE PREMISES OR TO THE BUILDING CAUSED BY THE REMOVAL
OF ALTERATIONS.
(B)
(I)
TENANT SHALL BE REQUIRED TO DEPOSIT SECURITY WITH LANDLORD TO
SECURE TENANT'S OBLIGATION TO RESTORE ANY ALTERATION IN AN AMOUNT SUFFICIENT TO
SECURE THE RESTORATION OF THE ALTERATION IN THE MANNER DISCUSSED BELOW.
FOR THE
ELIMINATION OF DOUBT, ALL SUCH RESTORATION SHALL BE SUBJECT TO THE PROVISIONS
HEREOF RELATING TO THE PERFORMANCE OF ALTERATIONS.
PRIOR TO UNDERTAKING THE
ALTERATION, TENANT SHALL FURNISH TO LANDLORD ONE OF THE FOLLOWING (AS SELECTED
BY TENANT): (I) A CASH DEPOSIT OR (II) AN IRREVOCABLE, UNCONDITIONAL, NEGOTIABLE
LETTER OF CREDIT, ISSUED BY A BANK AND IN A FORM SATISFACTORY TO LANDLORD, EACH
TO BE EQUAL TO 100% OF THE COST OF THE RESTORATION, AS REASONABLY ESTIMATED BY
LANDLORD, IN AN AMOUNT NOT TO EXCEED AN AGGREGATE OF $1 MILLION DURING THE
TERM.
ANY SUCH LETTER OF CREDIT SHALL BE FOR ONE YEAR AND SHALL BE RENEWED BY
TENANT EACH AND EVERY YEAR