Courthouse Square Agreements (compiled notebook)

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"Total Taking"), and the Minimum Rent and Additional Rent shall be apportioned and ~aid to the date of such total taking. ~ 17.2 If this Lease expires and terminates as a result of a Total Taking, the ~ights and interests of the parties shall be determined as follows: '~ ( a) The total award or awards for the Total Taking shall be apporttioned and paid in the following order of priority: , ( i) Lessor shall have the right to and shall be entitled to re~eive directly from the condemning authority, in its entirety and not subject to any trust, that portion of t e award, which is defined and referred to as the "Land Award," andLessee shall not be entitled to recei e any part of the Land Award. The term Land Award shall mean that portion of the award in condemn tion or change of grade proceedings that represents the fair market value of the Premises, considered as v cant, unimproved but encumbered by this Lease, the consequential damage to any part of the Premises that may not be taken, the diminution of the assemblage or plottage value of the Premises not so taken and all ther elements and factors of damage to the Premises; but in all events such damage or valuation shall take I into consideration that the Premises is encumbered by this Lease; , (ii) Lessee shall have the right to and shall be entitled to re eive directly from the condemning authority that portion of the award referred to as the "Leasehold A ard." The term Leasehold Award shall mean that portion of the award in condemnation proceedings that epresents the fair market value of Lessee's interest in the Improvements and the fair market value of Lesse 's leasehold estate as so taken and, provided this Lease is not terminated as a result of such condemnat on or taking, the consequential damages to any part of the Improvements. , (iii) It is the intent of the parties that the Land Award and ~i Leasehold Award will equal the total amount of the awards respecting a total taking. , ~ (b) If the court or such other lawful authority as may be auth rized to fix and determine the awards fails to fix and determine, separately and apart, the Land Award nd the Leasehold Award, such awards shall be determined and fixed by written agreement mutually en ered into by and among Lessor and Lessee, and if an agreement is not reached within 20 days after the jud ment or decree is entered in the proceedings, the controversy shall be resolved in the same court as the co demnation action is brought, in such proceedings as may be appropriate for adjudicating the controversy; a d (c) If the condemning authority refuses or otherwise fails to ~~deduct from the Leasehold Award any Rent or other money due from Lessee to Lessor and to pay same irectly to Lessor, then Lessee shall execute and deliver to Lessor a written and acknowledged assignme t of such amount payable out of such Leasehold Award, and if, nevertheless, the full amount of the Leaseh ld Award is paid to Lessee the recipient shall hold in trust for Lessor and pay over to Lessor forthwith on the receipt of the award the amount or amounts so due. I 17.3 If, during the Term, there is a taking or condemnation of the ~~Premises or the Improvements that is not a total taking and not a temporary taking of the kind describe below, or in the event of the change in the grade of the streets or avenues on which the Premises abuts, his Lease and the Term shall not cease or terminate but shall remain in full force and effect with respect to the poRion of the Premises and of the Improvements not taken or condemned (any taking or condemna ion or change of grade of the kind described in this Section being referred to as a"Partial Taking"), nd in such event 18the total award or awards for the taking shall be apportioned and paid 18.0.0.0.0.0.0 1 to Lessor, who shall have the right to and shall be entitled to receive directly from the condemning autho ity, in its entirety and not subject to any trust, that portion of the award that equals the Land Award, and ssee shall not be entitled to receive any part of the award.(A) , 18.1 In the event of a taking of all or a part of the Premises or the mprovements for temporary use, this Lease shall continue without change, as between Lessor and Lessee, a d Lessee shall be ~ Ground Lease Courthouse Square ' Page - 10 0919970302 ~~