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AGREEMENT OF LEASE

Label derived from the City's folder field. The City does not supply document titles.NYC-WTC_000167068–000167165
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NYC 9/11 Public Portal Document

installations, alterations, additions or improvements, except if due to Landlord's willful acts or negligence. In the event Landlord fails to fulfill its obligations. Tenant may, in addition to its other remedies, give written notice to Landlord specifying the repairs required by Tenant and Landlord shall commence performance of such work within three (3) business days after the giving of such notice and diligently proceed to complete said work, provided, however, that is such work shall be of a nature that the same cannot be commenced within such period. Landlord shall commence such work as soon as reasonably practicable and diligently proceed to complete said work.

Anything to the contraiy notwithstanding, in the event the repairs to be performed by the Landlord are required to correct a hazardous condition or to end an emergency which renders the premises unsuitable for the use set forth herein (excluding fire or casualty). Tenant shall give Landlord, its ageht, superintendent or the person designated to receive such notice, immediate notice in writing, personally (against a signed receipt) or by certified mail, and Landlord, within one (1) business day of receiving said notice, subject to the proviso contained in the immediately preceding paragraph, shall commence (initiating necessary telephone calls being deemed commencement) the repairs and diligently proceed with continuity to complete said work. In the event Landlord fails to commence and complete said work after said notice, as aforesaid. Tenant may, upon notice to Landlord and as agent for the Landlord, perform same and deduct the reasonable cost thereof from any rent due or that may become due and payable under this Lease.

In the event Tenant is unable to use any part or all of the Demised Premises because of Landlord's failure to perform such work as set forth in the two preceding paragraphs hereof, the rent shall be reduced, during such period, proportionately to the diminution in space resulting from such failure.

Excluding Tenant’s personal property. Landlord shall, upon Tenant’s request and at Tenant’s expense, make necessary repairs to Tenant’s Initial Work, Tenant’s alterations and improvements in the Demised Premises.

Notwithstanding anything to the contrary in Article 13 hereof. Landlord shall be responsible for the performance and cost of all repairs resulting from defects of materials and workmanship in construction of Tenant’s Initial Work during the first year immediately following Substantial Completion of such portion of Tenant’s Initial Work.

Following such first year, with respect to Tenant’s repair obligations, upon Tenant’s request, to the extent existing and assignable. Landlord shall assign to Tenant the beneficial interest in all warranties and guarantees received by Landlord from contractors and materialmen engaged in its performance, as well as the right to enforce any contracts made with such contractors and materialmen. Landlord hereby agrees to cooperate fully with Tenant in the event that Tenant seeks to enforce its rights with respect to said warranties and guarantees. The provisions of this paragraph shall be in addition to Landlord’s responsibility set forth in the

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NYC-WTC_000167102

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NYC-WTC_000167102Source: NYC Law Department, mirrored locally

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