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SOUTHERN PACIFIC - FT 079223
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SOUTHERN PACIFIC - FT 079223
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11/4/2021 2:00:45 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
8/11/1983
LONG TERM AGREEMENTS - NAME
SOUTHERN PACIFIC
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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previous 12 -month period. Notwithstanding the fact that Railroad's <br />bills to Grantee may not reflect the change until some time later, <br />Grantee shall remain liable for payment of the full amount of any <br />such increase in rental from the effective date of the revision. The <br />revised rent shall never be less than the rental rate already in effect. <br />A Consumer Price Index rental revision shall be deferred to the next <br />succeeding anniversary date if during the immediately preceding 12 -month <br />period, the rental has been increased for any other reason. <br />Notwithstanding the above, Railroad may at any time upon thirty <br />(30) days' written notice to Grantee revise the rental then in effect <br />to accord with the then fair rental value of the premises. The fair <br />rental value shall be determined as though the land constituting the <br />premises were unencumbered by this indenture and shall be based on the <br />highest and best use to which it can be put under the zoning laws then <br />in effect. <br />1-b. In the event all or any portion of the said premises of Rail- <br />road shall be taken or condemned for public use (including conveyance by <br />deed in lieu of or in settlement of condemnation proceedings), Grantee <br />shall receive compensation only for the taking and damaging of Grantee's <br />improvements. Any other compensation or damages arising out of such <br />taking or condemnation awarded to Grantee shall be assigned by Grantee to <br />Railroad. <br />-1-a- <br />
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