You are on page 1of 75
{Conformed} THE CITY OF NEW YORK, Lessor NEW YORK STATE URBAN DEVELOPMENT CORPORATION, Lessee WELFARE ISLAND DEVELOPMENT CORPORATION, ‘SupsiDIARY Teane Dated: December 23, 1969 = | a REPRINT—April 1974 (with Amendments dated July 26, 1972 ‘and December 6, 1973) INDEX Paragraph, Number and Title 1, Leased Property; Term of Lease ..+.sssreeees . 2, Lessee's Obligation to Prepare Plans and Construct Improvements; Eessor's Obligation to Relocate and Demolish; Agreement with subsidiary 3. Lessor’s Public Facilities .....esesee 4. Basic and Additional Reat .......4.+ 5. Adjustment of Rent .... 6 Payment of Charges for Muni Insurance ... 8B Fire or Casualty .... 9. Mechanic's Liens .. 10. Use seeeesees HN. Indemnity | 12, Assignment; Subleasing: Mortgaging . 13. Condemnation . 14, Defauit by Lessee 15, Notices ..... 16. Arbitration 17. No Waiver ..... 18. Quiet Enjoyment . 19. Certificate of Lessor ... 20. Lessor's Inspection and Audit of Books and Records; Lessee's and Subsidiary’s Reports ......-.... SRBRBEY Bes ee er a a ee THIS LEASE, made this 23rd day of December, 1969 between ‘Tax.Crrr or New Yonx, a municipal corporation of the State of ‘York having an office at City Hall, Borough of Manhattan, City, County and State of New York (“Lessor”), the New Youx Suze Unnax Daveroruewt Conronatiox, a public benefit corporation of the State of New York having an office at 666 Fifth Avenue, Borough of Manhattan, City, County and State of New York (“Lesseo”), and the Weuranz Istaxo Duvzcorumnr Conponarion, a New York corporation having an office at 666 Fifth Avenue, Borough of Manhattan, City, County and State of New York (“Subsidiary”), WITNESSETH: 1. Leased Property; Term of Lease. Lessor hereby leases to Lessee and Lessee hereby ronts from Lessor the following desoribed property (the “Leased Premises”): (a) All the lands descritied in Schedule 1 attached hereto; and (b) All building structures, facilities, equipment, paving, sur- facing and other structures now or hereafter located on such Janda; Swssect, Howxven, to (i) the agreements of record and other exceptions referred to in such Schedule 1, and (ii) such state of facts as an accurate survey would show: . Fon a term commencing on the date hereof and expiring (unless this Lease shall sooner terminate as provided herein) at midnight on the 99th anniversary of the date hereof. 2. Lessee’s Obligation to Prepare Plans and Construct Improve- ments; Lessors Obligation to Relocate and Demolish; Agree- ment with Subsidiary. Lessee shall prepare or cause to be prepared designs, plans and specifications for the Improvements called for by the General Development Plan, shall obtain or cause sublessees to obtain or shall otherwise arrange for financing upon such terms as Leasee shall deem appropriate for the development of the Improve- ments and shall construct the Improvements or cause the Improve- ments to be constructed. Construction shall commence, subject to