Short Form Lease Of Office Space (Page 4 of 4) in pdf

Short Form Lease Of Office Space Page 4

VIII. Indemnification

In case of a termination of this Lease by a reentry as provided above, the Lessee shall

indemnify the Lessor for all loss or damage which it may suffer during the residue of the term by

reason of such termination, whether through loss or decrease of rent or otherwise.

IX.

Abatement of Rent

If the buildings on the Premises or any part of them at any time during the term are

damaged by fire or other unavoidable casualty so as to be unfit for use and occupation, and if

additionally, in case of loss or damage by fire, the policy or policies of insurance effected by the

Lessor have not have been vitiated or payment of the insurance moneys refused in consequence

of some act or default of the Lessee, then the rent under this Lease or a just and proportionate

part of the rent, according to the nature and extent of the damage sustained, shall be abated until

the Premises have been repaired and restored by the Lessor, or, in case the buildings are

substantially destroyed, then at the election of the Lessor or of the Lessee this Lease shall be

terminated.

Interpretation; Binding Effect

In the interpretation of this Lease, whenever the context so permits, the words Lessor and

Lessee shall include the parties' respective executors, administrators, heirs, and assigns. The

covenants and stipulations of this Lease shall be binding upon and inure to the benefit of such

persons included under such definitions of the words "lessor" and "lessee."

XI.

Mandatory Arbitration

Notwithstanding the foregoing, and anything herein to the contrary notwithstanding, any

dispute under this Agreement shall be required to be resolved by binding arbitration of the

parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator

and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said

dispute. The arbitration shall be governed by the rules of the American Arbitration Association

then in force and effect.

WITNESS our signatures as of the day and date first above stated.

________________, INC.

By___________________________

(Name and Office in Corporation)

Short Form Lease Of Office Space Page 4