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RAILWORKS TRACK SERVICES, INC. (3)
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RAILWORKS TRACK SERVICES, INC. (3)
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Last modified
4/22/2021 3:13:12 PM
Creation date
4/22/2021 3:10:58 PM
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Contracts
Company Name
RAILWORKS TRACK SERVICES, INC.
Contract #
A-2021-040
Agency
PUBLIC WORKS
Council Approval Date
4/6/2021
Expiration Date
4/6/2022
Insurance Exp Date
1/1/1900
Destruction Year
2027
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(d) in the event of (i) the total destruction orthe Premises, (ii) the partial <br />destruction of the Premises or the Building where the same is so damaged that it cannot, in <br />Landlord's reasonable opinion, be repaired within sixty (60) days of the occurrence of <br />such damage, or (iii) damage or destruction as a result of any casualty for which insurance <br />proceeds are not available to pay l00% of the cost of repair or rebuilding, Landlord will <br />have no obligation to repair or rebuild the Premises or the Building. Landlord will make <br />its determination whether to repair or rebuild within sixty (60) days of the occurrence of <br />such damage or destruction, Upon notification to Tenant of Landlord's decision not to <br />repair or rebuild, this Lease shall terminate. in such an event, Tenant shall be reimbursed <br />by Landlord tiny rent monies transferrer( frorn Tenant to Landlord during this sixty (60) <br />day period within fourteen (14) days after the termination of the lease. <br />19. EMINENT DOMAIN: (a) If (i) all or pail of the Premises, the building located <br />thereon, or (ii) so much of any rights in the Premises or the building located thereon shall be <br />taken or appropriated tinder any right of eminent domain or under any other legal right whereby <br />the taking authority is obligated to compensate Landlord therefor so that there does not remain <br />promises suitable in the sole opinion of Tenant for the operation of its business, then Tenant may <br />terminate and cancel this Lease without owing any liability to Landlord as of the date on which <br />the condemning authority takes physical possession upon giving to Landlord written notice of <br />such election. Landlord agrees immediately within ton (10) days after any notice of intended or <br />actual taking or appropriation to give Tenant written notice thereof, providing to Tenant full <br />details of such taking or appropriation, including, without limitation copies of all condemnation <br />plans or surveys submitted by the condemning authority, a statement of the nature of the project <br />to be conducted by the condemning authority, and such other information as might be necessary <br />to enable Tenant to determine its future course of conduct. TENANT ACKNOWLEDGES <br />THAT LANDLORD'S EXERCISE OF ITS RIGEIT TO TERMINATE THIS LEASE <br />UNDER ANY THIS PARAGRAPH SHALL NOT ENTITLE TENANT TO ANY RIGHTS <br />OR CLAIMS FOR RELOCATION BENEFITS OR ANY OTHER CLAIMS RELATED <br />TO CONDEMNATION OR INVERSE CONDEMNATION. <br />(b) if this Lease shall be terminated and canceled as a result of any taking or <br />appropriation, Tenant shall be released from any further liability and pent and other sums for the <br />last month of Tenant's occupancy slialI be prorated and. Landlord shall immediately refund to <br />Tenant any sums paid in advance. <br />(c) Tenant reserves unto itself the right to prosecute'renant's claim for an <br />award for damages for the termination of this Lease caused by such appropriation or taking, <br />together with damages based on the value of Tenant's improvements and Tenant's fixtures and <br />other personal property erected or installed on the Premises and damages Tenant may sustain to <br />the interest in the business operated by Tenant on the Premises, including, but not limited to, <br />goodwill, patronage, and the removal, relocation, and replacement costs and expenses caused by <br />such appropriation or taking, and Tenant may file such claims as are permitted by law for the <br />loss of its leasehold interest, business dislocation damages, moving expense, or other damages <br />
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