Construction of New Surface Parking Lot and New Entrance

Construction of New Surface Parking Lot and New Entrance. Construction of a new surface parking lot and the New Entrance shall be fully paid for and managed by Tenant pursuant to (and the Parties agree to be bound by) the applicable terms and conditions of the Work Letter Agreement, which shall govern the project, including without limitation the approval process and Landlord's approval rights set forth therein; there shall be no Allowances (as defined in the Work Letter Agreement) from Landlord to Tenant in connection with such work; and such work... shall include, without limitation, all engineering, surveying, architectural, landscaping/screening, tree removal, fencing and approval costs and expenses. Notwithstanding the foregoing, Landlord agrees to and shall be responsible for the management (but not the cost) of the zoning approval, subdivision and/or other similar process(es) with the appropriate Governmental Authorities (the "Required Approvals"), which Required Approvals shall include approval of the site plan as attached hereto as Exhibit "B-1" (the "Site Plan"); however, Landlord makes no assurances as to its ability to obtain such approvals, though it agrees to make good faith efforts to timely do so. Upon receipt of all Required Approvals, the following terms defined in Article I of the Lease shall be amended: the acreage of the "Adjacent Property" shall be reduced to consist of 17.58 acres; and the acreage of the "Land" shall be increased to consist of 7.91 acres, and Exhibit "A" shall be amended to remove the current legal description and replace the prior legal description with a single legal description of the entire 7.91 acres of "Land". Landlord covenants that it (i) owns the Real Property in fee and/or (ii) Leases the Real Property with an option to purchase. View More