Common use of Improvements to be Constructed Clause in Contracts

Improvements to be Constructed. Except as expressly set forth in Exhibit D, Landlord has made no promise to alter, remodel or improve the Premises, the Shopping Center or the Property. Tenant, at its own cost and expense, shall perform the work and make the installations in the Premises that are described as Tenant's Work in Exhibit D attached hereto and incorporated herein by reference, in accordance with the plans and specifications to be approved by Landlord. Tenant's plans and specifications shall conform to the architectural and accessibility regulations issued by the United States Attorney General's office pursuant to Title III of the Americans with Disabilities Act of 1990 and comply with the Minimum Guidelines and Requirements for Accessible Design issued by the Architectural and Transportation Barriers Compliance Board. Tenant shall commence the installation of the improvements promptly upon Tenant's receipt of the Notice of Substantial Completion (defined in Paragraph 8 of Exhibit D). Tenant's installation shall be subject to the provisions of Exhibit D and Paragraphs 7(b)-(c) below. Subject to Paragraph 27, Tenant shall complete the fixturization of the Premises and use its best reasonable efforts to open for business, fully stocked and staffed on or before the redevelopment opening date as such redevelopment opening date is designated by Landlord in a written notice to Tenant, provided, however, that the redevelopment opening date shall not be deemed to be earlier than the Estimated Commencement Date. Tenant acknowledges that the financial success of the Shopping Center depends, in part, on Tenant's opening the Premises for business contemporaneously with the redevelopment opening date as designated by Landlord and, in any event, no later than the Estimated Commencement Date, and that Landlord's damages arising from Tenant's failure to do so are extremely difficult and impracticable to fix. Therefore, should Tenant fail to open for business by August 1, 1997, and otherwise in compliance with this Paragraph 6(a), Tenant shall pay to Landlord, as additional rental, a sum equal to Five Hundred Dollars ($500.00) multiplied by the number of days after said date Tenant is in breach of the foregoing covenant to open which sum Tenant agrees is fair compensation to Landlord for said damages, provided, however, that notwithstanding the foregoing, Tenant shall not be required to pay said $500.00 charge before August 1, 1997, that such date shall be subject to the provisions of Paragraph 27 hereof, and that for purposes hereof, Paragraph 27 shall be be understood to include governmental delay.

Improvements to be Constructed. (i) Landlord shall cause its contractor to construct and install the improvements to the Premises, other than those improvements which are specified as "Tenant's Work" on the Construction Documents, in accordance with the Construction Documents (the "Landlord's Work"); provided, however, that Landlord reserves the right (a) to make substitutions of materials or components of equivalent grade and quality when and if any specified material or component shall not be readily available, and to make changes to the work necessitated by conditions met in the course of construction, provided that if the architect determines that any change is material and substantial in nature, then Tenant's approval of such change shall first be obtained (which approval shall be deemed given unless withheld in writing within two (2) business days following Landlord's request therefor). In the event Landlord and Tenant have any differences with respect to changes each desires to make to the Construction Documents, Landlord and Tenant shall promptly meet and use good faith efforts to resolve the differences. (ii) Tenant shall be entitled to a construction allowance equal to Thirty-Five Dollars ($35.00) per rentable square foot of the Premises or Three Hundred Seventy-Seven Thousand Two Hundred Sixty-Five Dollars ($377,265.00) (the "Allowance"). The Allowance shall be applied against the total cost the Construction Documents, the cost of the demolition of the Premises and the cost of providing improvements in accordance with the Plans, including, but not limited to, the Landlord's Work. To the extent such costs exceed the Allowance, the excess shall be additional rent and shall be paid by Tenant to Landlord within thirty (30) days of Tenant's receipt of an invoice therefor. If the cost of the Landlord's Work and the Construction Documents exceeds the amount of the Allowance, Tenant may apply any unused portion of the Allowance provided to Tenant under that certain lease between Landlord and Tenant concerning the retail space on the ground floor of the Building (the "Bank Lease") to the of such excess costs, and, if after the application of the unused portion, if any, of the Allowance under the Bank Lease to the payment of the excess costs, there are any remaining costs, Tenant shall reimburse Landlord for such remaining costs within thirty (30) days of Tenant's receipt of an invoice therefor, and the amount of such remaining costs shall be considered additional rent. If the cost of the Landlord's Work and the Construction Drawings is less than the amount of the Allowance, Tenant may apply the unused portion to the cost of Tenant improvements under the Bank Lease or request Landlord to defer the payment of the unused amount of the Allowance until such time as Tenant desires to undertake alterations to the Premises. Landlord shall not be required to publicly-bid any of the contracts for the Landlord's Work. Except as expressly set forth in Exhibit Dthe Construction Documents, Landlord has made no promise to alter, remodel or improve the Premises, the Shopping Center Building or the Property. Tenant, at its own cost and expense, shall perform the work and make the installations in the Premises that are described as Tenant's Work in Exhibit D attached hereto and incorporated herein by reference, in accordance with the plans and specifications to be approved by Landlord. Tenant's plans and specifications shall conform to the architectural and accessibility regulations issued by the United States Attorney General's office pursuant to Title III of the Americans with Disabilities Act of 1990 and comply with the Minimum Guidelines and Requirements for Accessible Design issued by the Architectural and Transportation Barriers Compliance Board. Tenant shall commence the installation of the improvements promptly upon Tenant's receipt of the Notice of Substantial Completion (defined in Paragraph 8 of Exhibit D). Tenant's installation shall be subject to the provisions of Exhibit D and Paragraphs 7(b)-(c) below. Subject to Paragraph 27, Tenant shall complete the fixturization of the Premises and use its best reasonable efforts to open for business, fully stocked and staffed on or before the redevelopment opening date as such redevelopment opening date is designated by Landlord in a written notice to Tenant, provided, however, that the redevelopment opening date shall not be deemed to be earlier than the Estimated Commencement Date. Tenant acknowledges that the financial success of the Shopping Center depends, in part, on Tenant's opening the Premises for business contemporaneously with the redevelopment opening date as designated by Landlord and, in any event, no later than the Estimated Commencement Date, and that Landlord's damages arising from Tenant's failure to do so are extremely difficult and impracticable to fix. Therefore, should Tenant fail to open for business by August 1, 1997, and otherwise in compliance with this Paragraph 6(a), Tenant shall pay to Landlord, as additional rental, a sum equal to Five Hundred Dollars ($500.00) multiplied by the number of days after said date Tenant is in breach of the foregoing covenant to open which sum Tenant agrees is fair compensation to Landlord for said damages, provided, however, that notwithstanding the foregoing, Tenant shall not be required to pay said $500.00 charge before August 1, 1997, that such date shall be subject to the provisions of Paragraph 27 hereof, and that for purposes hereof, Paragraph 27 shall be be understood to include governmental delay.