Resolution 2015-69 - Laserfiche WebLink

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compliance with all codes, ordinances, rules and regulations of any authority, in a good and workmanlike manner by licensed contractors with appropriate building permits. TENANT agrees that all contractors performing work on the Premises shall maintain commercial liability insurance of at least Two Million and No/100 Dollars ($2,000,000.00). All entries on the Premises and all work done by or on behalf of the TENANT shall be at TENANT's sole risk. Nothing herein shall be construed to obligate the City of Louisville, acting in its administrative or quasi-judicial capacity, to approve any application of TENANT submitted under the City's land use or building codes for approval of any work upon the Premises. All materials and equipment furnished by TENANT in its improvement of the Premises shall be new unless otherwise specified in the approved plans and specifications. All of TENANT's work to be performed on the Premises shall be of good and workmanlike quality, free from faults and defects, and in accordance with the approved plans and specifications and legal requirements. Any of TENANT's work not conforming to the above standards shall be considered defective. In the event LANDLORD exercise its rights to terminate this Lease as provided in Section 6.3, then if such termination is pnor to the tenth anniversary of this Lease, TENANT shall be reimbursed a portion of TENANT's Net TI Cost (as defined in Section 6.4), equal to the 1/120th of the Net TI Cost for each month remaining between the effective date of such termination and the tenth anniversary of this Lease. (Therefore, for example, if LANDLORD terminates the Lease pursuant to Section 6.3 effective October 15, 2020, TENANT shall be reimbursed for one-half of the Net TI Costs based on the 60 months remaining in the initial ten- year term. If LANDLORD terminates the Lease pursuant to Section 6.3 effective October 15, 2022, TENANT shall be reimbursed for thirty percent (30%) of the Net TI Costs based on the 36 months remaining in the initial ten-year term.) If a termination pursuant to Section 6.3 occurs in year ten or later, LANDLORD shall have no obligation to reimburse any TENANT improvement expenses. LANDLORD's obligation to pay any amount of Net TI Costs is limited solely to a LANDLORD termination pursuant to Section 6.3. ARTICLE 17 - REPRESENTATIONS AND WARRANTIES 17.1 TENANT. TENANT hereby represents and warrants to LANDLORD that: (a) TENANT is a duly authorized and existing Delaware corporation; (b) TENANT has the full right and authonty to enter into this Lease; (c) each of the persons executing this Lease on behalf of TENANT is authorized to do so; and (d) this Lease constitutes a valid and legally binding obligation of TENANT, enforceable in accordance with its terms. 17.2 LANDLORD. LANDLORD represents and warrants to TENANT that: (a) LANDLORD has the full right and authority to enter into this Lease; (b) each of the persons executing this Lease on behalf of LANDLORD is authorized to do so; and (c) this Lease constitutes a valid and legally binding obligation on LANDLORD, enforceable in accordance with its terms. ARTICLE 18 - NOTICES 13