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Lease Article 5 regarding landlord interest and layout plans, 1998

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Lease provision defining the landlord's ownership warranty and requirements for final layout and finish plans at 7 World Trade Center.

NYC-WTC_000167056–000167067

Folder label: “Article 5 Landlord's Interest in Premises Article 6 Layout and Finish”

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NYC 9/11 Public Portal Document

Completion and receipt of an invoice from Landlord. Any payment by Tenant after said'45

days shall be made together with interest at 2 points over the Base Rate from date of Substantial

Completion to date(s) of payment. Said payment by Tenant may exclude the undisputed value of

punch list items, which amount shall be paid promptly by Tenant after completion by Landlord.

(J) Any dispute regarding the determination of Substantial Completion of Tenant’s

Initial Work and/or the Commencement Date shall be resolved by arbitration, in the manner by

the rules and before the American Arbitration Association (or any successor organization) in New

York County. The party desiring arbitration shall appoint as arbitrator on its behalf, a person

having at least 10 years relevant experience and give notice written notice to the other party who

shaljj, within 15 days thereafter, a second person having at least 10 years relevant experience and

give written notice thereof to the first party. The arbitrators so appointed, shall within 15 days

following the appointment of the second arbitrator appoint a third disinterested person having no

less than 10 years relevant experience.

Said^irbitrators shall, as promptly as possible (but in any event within 30 days

following the appointment of the third arbitrator) determine the dispute by a majority of the ■ 7 arbitrators, whose decision shall be binding and conclusive upon the parties hereto. Each party

shall bear its own fees and expenses of (i) its own attorneys and other experts and the arbitrator

that it selected and (ii) be responsible for one-half the fees and expenses of the third arbitrator.

The arbitrators shall have no power ^ vary or modify any of the provisions of- .

this Lease, and their powers and jurisdiction are limited accordingly. The decision of the

arbitrators shall be binding upon the parties, and may be entered as a judgment in any court

having jurisdiction thereover.

F.\CR\LHC\ 4219.1016\NEWLSE.4 29

NYC-WTC_000167064

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NYC-WTC_000167064Source: NYC Law Department, mirrored locally

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Legal memo on 7 WTC lease draft #4 comments, Dec · Box 7DCAS

NYC-WTC_000170182

Law Department memorandum providing legal comments and corrections regarding the fourth draft of the lease for 7 World Trade Center.

1 shared non-person entities · 1 shared topics · Same agency, volume and box · similarity 0.993