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Lease excerpt on landlord obligations and tenant remedies, undated

Machine-extracted title · confidence 95%

Contract text outlining procedures for landlord performance failures and tenant rights to deduct costs or withhold rent.

NYC-WTC_000170226–000170228

Folder label: “None

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NYC 9/11 Public Portal Document

.-Land±ord7'~~within the nexi after receipt of

such notice (the malting of TIecessary telephone calls beihti"deemed

Coamfenceiaent) and diligently proceed in a continuous manner to

complete the performance thereof. If Landlord fails so to

commence and complete the performance of such obligations within

the applicable time period after receipt of said notice, as aforesaid. Tenant may (i) as agent for Landlord, perform the same

and deduct the reasonable cost thereof from any rent due or that

may become due and payable under this Leas r (ii) withhold an

amount of rent eoual to one reasonable cost of the per ■nee of such obligations as

reasonably determined by Tenant until Landlord performs such

obligations to the reasonable satisfaction of Tenant/ at which

time any amounts so withheld shall be promptly paid to Landlord,

or (iii) gjye Landlord and its managing agent a second notice

(the "Second Notice") of said default in the manner above

rovided.

Furthermore, if Tenant provides a Second Notice to Landlord o Hazardous Default and Landlord thereafter fails to

commence to cure such Hazardous Default within three (3) days

following receipt of the Second Notice (initiating neces^ry

, telephone -cetlrle deemed eommeueement’) , or fails thereafter diligently to proceed with continuity to cure said default and

as a result of Landlord's failure, (a) more than twenty-five

25%) percent of the Demised Premises is rendered unusable for

Tenant's business purposes and (b) Tenant removes its personnel

from such portion of the Demised Premises, then Tenant may

-33- 17724/0002/CD/1095S54.2

NYC-WTC_000170227

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NYC-WTC_000170227Source: NYC Law Department, mirrored locally

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