Lease and development agreement



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Section 5.21 Completion.


(a) Lessee Certificate. When the construction of the Project is completed and the Building is ready for use, the Lessee shall advise the Port Authority to such effect and shall deliver to the Port Authority a certificate signed and sealed by the Lessee’s Architect/Engineer, certifying that the Construction Work has been constructed in accordance with the approved Construction Application and the provisions of this Agreement and that all life safety systems have been completed in accordance with the approved Construction Application, and in compliance with all applicable Requirements (such certificate, the “Lessee Certificate”).

(b) Additional Documentation.

(1) Together with the Lessee Certificate, the Lessee shall deliver to the Port Authority complete copies of (w) the Lessee’s Architect/Engineer’s final inspection reports, (x) drawings and analysis of the fire sprinkler/protection systems constructed pursuant to the approved Construction Application, (y) HVAC balancing reports and (z) all equipment manuals and warranties.

(2) Within ninety (90) days of the issuance of the Certificate of Completion (as defined below), the Lessee shall deliver to the Port Authority two (2) sets of “as built” drawings of the Construction Work in an electronic CADD data file in a format to be designated by the Port Authority, all of which shall conform to the specifications of the Port Authority (the receipt of a copy of said specifications prior to the execution of this Agreement being hereby acknowledged by the Lessee), together with two (2) complete hard copies of such drawings, all engineering reports, engineering analysis, boring logs, survey information and engineering design calculations and operation and maintenance manuals in a comprehensive, coordinated package. The Lessee shall during the term of this Agreement maintain, and provide to the Port Authority upon request, a set of current Construction Documents showing thereon any changes or modifications which have been made.

(c) Certificate of Completion. Upon the Port Authority’s receipt of the Lessee Certificate, the Port Authority shall inspect the Construction Work, and if the same has been completed as certified in the Lessee Certificate, the Port Authority will issue a “Permit to Occupy or Use” (the “Certificate of Completion”; and the date thereof, the “Construction Completion Date”) with respect to the Construction Work, subject to the condition that all risks with respect to the Building, as well as the Construction Work and any liability therefor, for negligence or other reason, shall be borne by the Lessee. The Lessee shall not use or permit the use of the Building until the Lessee has received the Certificate of Completion.

(d) Partial Occupancy.

(1) The Lessee may wish to occupy a portion of the Building prior to the Construction Completion Date. In addition to and without affecting the foregoing obligations of the Lessee and provided that the Construction Application has been approved by the Port Authority, when an integral and material portion of the Construction Work is substantially completed and is properly usable, the Lessee may advise the Port Authority to such effect and may deliver to the Port Authority a certificate of an authorized officer of the Lessee and of the Lessee’s Architect/Engineer certifying that such portion of the Construction Work has been constructed in accordance with the approved Construction Application and the provisions of this Agreement, and in compliance with all applicable Requirements and that all life safety systems have been completed in accordance with the approved Construction Application and in compliance with all applicable Requirements, and specifying that such portion of the Construction Work can be properly and safely used even though the Construction Work has not been completed, and that the Lessee desires such use (the “Partial Occupancy Request”).

(2) The Port Authority shall inspect the portion of the Construction Work identified in the Partial Occupancy Request, and if the same has been completed as certified by the Lessee, the Port Authority may in its sole discretion issue a “Temporary Permit to Occupy or Use” with respect to such portion of the Construction Work, permitting the use of such portion of the Building for the purposes set forth in this Agreement (each such document, a “Certificate of Partial Completion”), subject to the condition that all risks thereafter in connection with such portion of the Building and the construction and installation of the same, and any liability therefor for negligence or other reason, shall be borne by the Lessee, and subject to such further conditions, restrictions and requirements as the Port Authority may at that time impose.



(3) If at any time prior to the Construction Completion Date the Port Authority determines that such portion of the Building or the use thereof is unsafe or in violation of the provisions of this Agreement, the Lessee shall promptly, upon receipt of a written notice from the Port Authority, cease the use of such portion of the Building which had been in use pursuant to the Certificate of Partial Completion.

Section 5.22 Alterations and Changes.


Following issuance of the Certificate of Completion, the Lessee shall not make any alterations or changes (including repairs) to the Premises without the prior written consent in each instance of the Port Authority. In the event any such work is performed by the Lessee without such consent, upon notice to do so from the Port Authority, the Lessee shall remove the unauthorized installation, construction, improvement, alteration, modification or addition or, at the option of the Port Authority, cause such unauthorized installation, construction, improvement, alteration, modification or addition to be changed to the satisfaction of the Port Authority. In the event the Lessee fails to comply with any such direction, the Port Authority may remove or change such unauthorized installation, construction, improvement, alteration, modification or addition and the Lessee shall pay to the Port Authority on demand one hundred thirty percent (130%) of the cost of such removal or change.
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