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- 1- <br /> . <br /> B . In the event that the CHAMBER shall be in deruult <br /> of any of the terms of this Lease, the CITY may terminate this Lease <br /> and take possession of the premises and exercise any other legal <br /> remedies available to it. <br /> 9 . The CHAMBER agrees to comply with all laws , ordinances, <br /> and statues which may pertain or apply to the leased premises and the <br /> use thereof. <br /> 10. The CHAMBER agrees they shall pay all utility charges <br /> which are incurred with respect to use of the property, including <br /> electricity, gas, telephone and any other similar charges. Water <br /> utility service shall be provided at no cost to the CHAMBER. <br /> 11 . This Lease Agreement and all it's terms and covenants <br /> contained herein shall continue and bind all successors and assigns <br /> of the CHAMBER. Said lease may be assigned or a portion of <br /> the premises sublet only with the express written permission of the <br /> CITY Administrator. <br /> 12. This Lease Agreement rust be approved by the City <br /> Council of the City of Louisville and the Board of Directors of the <br /> Chamber prior to its execution by the parties. In addition, the City <br /> Council shall make a determination on a yearly basis whether to <br /> continue this leas• for the term of an additonal year. In the event <br /> that the City Council decides not to renew said lease for the annual <br /> period , the CITY shall provide the CHAMBER with thirty (30 ) days <br /> notice of termination and the CHAMBER shall vacate the premises <br />