Contract registration memo, Capis ID PW-326578, 1997

Machine-extracted title · confidence 95%

Memo from DCAS regarding contract registration and financial details for the Mayor's Office of Emergency Management project.

NYC-WTC_000172590–000172591

Folder label: “?Lease pages 22 & 25”

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NYC 9/11 Public Portal Document /. ■

libove within ten (10) business days from the date of said Delay Notice, Tenant, in addition to any

other remedy it may have, at it's option may; (i) as agent of the Landlord commence performance

of the work and deduct the cost thereof from the rent to become due and payable pursuant to

Article 2 hereof; or (ii) terminate this Lease on ten (10) business days written notice to Landlord.

Tenant, however, shall not be required to exercise either of the foregoing rights. If Tenant elects

not to terminate the Lease, and regardless of whether or not Tenant provides a written Delay

Notice or elects to perform the work as Landlord's agent. Tenant shall receive a. rent credit

subsequent to Substantial Completion equivalent to one (I) day of free rent for each day Landlord

has delayed commencement of work or not met time frames.

(C)(1) If and only if Landlord substantially completes the Work on a date no later than

October 1, 1997 or in the event that Tenant takes occupancy by such date, then Tenant shall pay

to Landlord an amount equal to $1,300,000.00 within sixty (60) days after the Substantial

Completion Date, as a contribution toward the Work Cost. However, in the event Landlord

substantially completes the Work on a date later than October 1,1997, yet prior to twelve (12)

months from the later of (i) Landlord’s receipt of the Work Permit, or (ii) DRES approval of the

Final Plans, Tenant shall give Landlord written notice (hereinafter referred to as the "Completion

Delay Notice") specifying the work required by Tenant that has not been properly completed. If

Landlord fails to achieve Substantial Completion within one (1) month from the date that

Landlord receives such Completion Delay Notice, or if such work cannot be completed within

said one (1) month and Landlord fails to act diligently, and continuously without interruption to

complete said work within a reasonable time. Tenant, in addition to any other remedy it may have;

(i) may, as agent of Landlord, perform said work and deduct the cost thereof from the rent to

become due and payable pursuant to Article 2 hereof, and (ii) shall receive a rent credit

NYC-WTC_000172590

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NYC-WTC_000172590Source: NYC Law Department, mirrored locally

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NYC-WTC_000167056

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1 shared topics · Same agency, volume and box · similarity 0.965