Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 851]

EXTRACTED TEXT FROM PAGE:

BOABD OF TRUSTEES

[June 29

premises), without terminating this lease and to hold, operate and manage the same, and from time to time to make all needful repairs, and such alterations, additions, extensions and betterments as the Lessor or such other person or persons shall deem wise, and to receive the rents, income, issues and profits thereof, and out of the same to pay all proper costs and expenses of so taking, holding and managing the same, including reason able compensation to the Lessor, its agents or attorneys, or to such other person or persons, and any taxes and assessments and other charges which may be deemed wise to pay and all expenses of such repairs, alterations, additions, extensions and betterments, and to apply the remainder of the moneys so received to the payment of Rent or performance of any obligations of the Lessee hereunder, with interest at six per cent (6%) per annum upon any sums in arrears, and including expressly (but without limitation) any installments of Rent or other amounts becoming due during the time when the Lessor, or such other person or persons, shall be upon, or operating, the demised premises; and the Lessee covenants that it will, upon demand, forthwith permit the Lessor, its agents and attorneys, or such person or persons as the Lessor shall designate, to enter and hold the demised premises as aforesaid. Upon payment in full of the entire amount of Rent theretofore become due, and setting aside an amount equal to the Rent to become due on the next succeeding six Rental Installment Dates, and payment of all other sums payable under this Lease, and curing of all other defaults hereunder, the Lessor, or such other person or persons, shall relinquish possession of the demised premises to the Lessee, and the balance of any moneys then on hand derived from the operation of the demised premises shall be applied by the Lessor, its successors and assigns, to the final installments of Rent to become due hereunder, and the Lessee shall be entitled to resume absolute possession, and to manage and operate, the demised premises, the same right of entry, however, to exist upon any subsequent default ( c ) The right, either in connection with, or irrespective of any action or proceedings for the enforcement hereof, or of the performance of any of the obligations of the Lessee hereunder, to the appointment of a receiver of the demised premises, and each and every part thereof, and of the rents, issues and profits thereof, with power to operate said property and with all the usual powers and duties of receivers in similar cases, with full power upon the order of such court and on behalf of the Lessee to rent the demised premises, or any part thereof, for any term approved by the court, and out of the moneys received by such receiver to pay all proper costs and expenses of taking, holding and managing the demised premises, including reasonable compensation to such receiver, its agents and counsel, and any taxes and assessments and other charges which the receiver may deem wise to pay, and repairs, alterations, additions, extensions and betterments, and to pay and apply the remainder of the moneys in the same manner as the moneys collected by the Lessor or the other person or persons specified in subdivision (b) are therein directed to be paid or applied. ( d ) The right by mandamus, suit, action or proceeding in law or in equity to enforce the payment by the Lessee (but solely from the Special Fund hereinafter described) of any Rent or other sums due hereunder or to compel the performance by the Lessee of any covenants, conditions, or agreements hereof on the part of the Lessee to be kept and performed. ( e ) The right by suit, action or proceeding in equity to enjoin any actions or things which may be in violation of any of the rights of the Lessor or the Trustee hereunder. (f ) The right by suit, action or proceeding in any court of competent jurisdiction to require the Lessee and the officers thereof to account (as if it and they were the trustees of an express trust) for all moneys in the Special Fund and for the receipts and collections which are hereby required to be paid into the Special Fund.