Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 855]

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852

BOARD OF TRUSTEES

[June 29

the payment of Rent, additional Rent, and any other sums payable hereunder as same become due and for the performance of its other obligations hereunder. Such pledge shall constitute a first lien and charge upon said Special Fund and upon the receipts and collections of the Lessee which it is required to pay into said Special Fund. The moneys in the Special Fund shall be used solely for the purpose of paying the Rent, additional Rent and other sums payable hereunder as same become due and for the performance of its obligations hereunder; provided, however, that the Lessee may withdraw and use for other lawful purposes, any of said receipts and collections in excess of the sum of $86,000 for any yearly period ending December 31, but only-to the extent that said excess receipts and collections are not needed during said yearly period for the payment of Rent, additional Rent and other sums payable hereunder and for the performance of its obligations hereunder. FIFTH: In the event that the Lessee shall make default in the performance of any of the agreements, conditions, covenants, or terms herein contained, the Lessor may immediately, or at any time thereafter (but without any obligation on its part so to do), perform the same for the account of the Lessee, and any amount paid, or expense or liability incurred, by the Lessor, in the performance of the same, shall be payable (but solely from the Special Fund) forthwith by the Lessee and the same may, at the option of the Lessor, be deemed to be additional rental hereunder and be added to any Rent then due or thereafter falling due hereunder; and the Lessor shall have all the rights and remedies herein provided, or as may be granted by law, in respect of said sums as if the same were herein specifically reserved as rent for the demised premises; and the Lessor shall have the further right to enter the demised premises for the purpose of correcting or remedying any such default and to remain therein until the same shall have been corrected or remedied, all at the expense of the Lessee. No payment of any sum or other performance of any agreement, condition, covenant or term by the Lessor shall (except to the extent otherwise expressly provided in this lease) waive any default of the Lessee or the right of the Lessor to take such action as may be permissible hereunder by reason of such default of the Lessee. SIXTH: If the said Lessee shall fail to pay any of the monthly installments on the Rent or to pay any other sums payable hereunder, or if the Lessor shall fail to collect any of the monthly installments on the Rent or to collect any other sums payable hereunder, at or within the time prescribed for said payment, such failure to pay or to collect shall not be, and shall not be construed to be, a waiver of the right of the Lessor to demand payment of or to collect said Rent or Rents or other sums, due or past due, at any time during the life of this lease, or a waiver of the right to enter the demised premises, or a waiver of any other rights or remedies of the Lessor hereunder. SEVENTH: The Lessee covenants that it will, at the Lessee's sole cost and expense, repair and keep in good and substantial repair, the demised premises and all present and subsequently erected buildings, structures, improvements and fixtures erected thereon, both outside and inside, including (but without limitation) all walks, walls, roofs, floors, vaults, sidewalks, water and sewage systems, windows and other glass, plumbing, gas and electric fixtures and connections, pipes, wires, conduits and all boilers, machinery, fixtures and appurtenances, in, on, or connected with the demised premises; that the Lessee shall replace and renew with like kind and quality, any of the said things, in, on, or about, the said demised premises, that may be too worn to be repaired; and that the Lessee shall make all repairs, changes and additions to the demised premises, and the buildings, structures, improvements and fixtures thereon (whether such repairs, changes or additions be structural or otherwise) that may be necessary to the end that, at all times, the said buildings, structures, improvements and fixtures shall be in good order, condition and repair. Throughout the life of this lease, the Lessee shall, at its own expense, promptly observe and comply with all applicable laws, orders, regulations, rules, ordinances and requirements of Federal, State, County, City, or other competent government, and of each of them, and of any and all of its, or their departments, bureaus, or officials.