Minutes - 11-3-14 Reg. Meeting - Laserfiche WebLink

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BK: 00027 PG - 00 60 shall negotiate in good faith to resolve the dispute. To the extent, Landlord and Tenant are unable to resolve the dispute, it shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association, with each party to bear its own costs and one -half of the arbitrators' costs. To the extent that the audit results are not so disputed, Landlord shall reimburse Tenant for any overcharge revealed by the audit, and Tenant will pay Landlord any undercharge revealed by the audit. The audit shall be performed at Tenant's sole cost and expense, unless after resolution of all disputes it is determined that Tenant's proportionate share of any item of operating costs shown on the disputed statement of operating costs exceeds the correct amount by more than three percent (3 %) of the amount shown on the disputed statement, in which case Landlord shall pay all costs and expenses relating to the audit. Tenant agrees to keep all information acquired as a result of Tenant's exercise of its rights hereunder confidential and shall not disclose same to any other person not a party hereto without the prior written consent of Landlord. The auditor shall be required to sign a similar nondisclosure agreement and agree in writing that the results of this audit may not be used to solicit the business of other tenants at the Office Building. 5. Interruption of Utilities If one or more utility services to the Premises is interrupted for more than 3 consecutive days other than due to an act or omission of Tenant then rent and other charges shall abate for so long as such interruption continue. In the event utilities are interrupted to the Premises for any reason, other than an act or omission of Tenant, for more than 10 days then Tenant shall have the option to terminate this Lease. 6. Operations Tenant shall have no obligation to operate within the Premises and cessation of use or abandonment shall not, so long as Tenant in not otherwise in default, be a default by Tenant under the Lease. 7. Maintenance Throughout the lease term and any extensions Landlord shall maintain the Office Building and the Common Areas consistent with the maintenance of a Class A or first class retail Office Building in Lee County, North Carolina. 8. Casual . Notwithstanding the provisions of the Lease to the contrary if the leased premises are partially destroyed, totally destroyed or rendered not commercially useable because of damage to the remainder of the Office Building or the Common Areas (a "commercial interruption ") then rent shall abate during the period of such damage or destruction or period of commercial interruption provided that if such damage is not repaired within or if the commercial interruption extends beyond ninety 90 days from the date of the casualty then 2of8