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BLP PARTNERSHIP GROUND LEASE
City of Pleasanton
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LONG TERM AGREEMENT
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BLP PARTNERSHIP GROUND LEASE
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10/28/2013 2:20:41 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
9/1/2005
LONG TERM AGREEMENTS - NAME
BLP PARTNERSHIP
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
100 JUNIPERO
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(iii) CPI Adjustment. As used in this Section, CPI Adjustment shall <br /> mean the ratio, the numerator of which is the Consumer Price Index — for the U.S. and selected <br /> Areas for Urban Wage Earners and Clerical Workers, all Items (1982- 1984 -100) published by the <br /> U.S. Department of Labor, Bureau of Labor Statistics ( "Consumer Price Index ") most recently <br /> published as of the date the Lessee determines the Inflation Adjustment and the denominator of <br /> which is the Consumer Price Index most recently published on the date the Lessee last <br /> determined the Inflation Adjustment. If the Bureau of Labor Statistics ceases to use the 1982- <br /> 1984 average of 100 as the basis of computation, then the ratio shall be adjusted so as to reach <br /> the same figure that would have been arrived at had such other price index been in effect on the <br /> other dates that Lessee determined the Inflation Adjustment. If the Consumer Price Index is no <br /> longer published or issued, then a reliable government or other non - partisan publication creating <br /> an index to determine inflation shall be used and the ratio shall be adjusted so as to reach the <br /> same figure that would have been arrived at had such other price index been in effect on the other <br /> dates that Lessee determined the Inflation Adjustment. <br /> (iv) Insurance Dollar Amount. For the first five (5) years from the Date <br /> Of This Lease, the.Insurance Dollar Amount shall, as applicable, equal the dollar amount set <br /> forth in subsections (b), (c), and (d). Thereafter, the Insurance Dollar Amount shall be equal to <br /> the applicable Inflation Adjustment that was Last calculated by the Lessee. <br /> Section 5.2 Insurance Policies and Premiums <br /> (a) The liability policies required by this Lease shall name the Lessor, its <br /> council members, officers, agents, and employees as additional insureds. The property insurance <br /> policy shall name the Lessor as a loss payee, as its interest may appear. <br /> (b) To the extent obtainable, any policy of insurance shall provide that any <br /> change or cancellation of said policy shall be made in writing and sent to the Lessee and the <br /> Lessor at their respective principal offices at least thirty (30) days before the effective date of <br /> change or cancellation. <br /> (c) Upon the Lessor's request at any time during the Lease Term, the Lessee <br /> shall provide certificates of insurance evidencing compliance with the requirements of this <br /> Section, and shall provide complete copies of such insurance policies, including a separate <br /> endorsement naming the Lessor as loss payee or the Lessor, its council members, officers, agents <br /> and employees as additional insureds, as applicable. <br /> Section 5.3 Proceeds of Insurance <br /> (a) For so long as any Other Loan, the City Loan or the City HELP Loan on <br /> the Project is outstanding: All fire and standard risk or extended coverage (casualty) insurance <br /> proceeds shall be applied to the payment of the costs of repairing or rebuilding that part of the <br /> Project damaged or destroyed if (i) the Lessee agrees in writing within ninety (90) days after <br /> payment of the proceeds of insurance that such repair or rebuilding is economically feasible; (ii) <br /> each Lender with an outstanding Other Loan permits or requires such repair or rebuilding; <br /> provided that the extent of the Lessee's obligation to restore the Project shall be limited to the <br /> amount of the insurance proceeds. <br /> 1441105\153233.25 18 <br />
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