11.1 SR 08-07-2023 - Laserfiche WebLink

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� 1 � 1 I date specified in such notice, the Term and all right, title, and interest of Tenant hereunder shall cease and come to an end. If Tenant elects not to terminate the Lease, the Lease shall continue in full force and effect, but the Base Rent shall be reduced pro rata in accordance with the percentage of value of the Premises so taken compared with the total value of the Premises immediately prior to said taking. Nothing herein contained shall affect Tenant's obligation to pay in full the Additional Rent. Landlord shall, however, at Landlord's sole cost and expense, restore that portion of the Premises not so taken to a complete architectural unit for the use and occupancy of Tenant. The Lease shall continue in full force and effect, but the Base Rent shall be reduced pro rata as aforesaid. If the parties cannot agree on the pro rata reduction of the Base Rent after said taking, or on the aiZocation of any award made in the Proceedings, as above set forth, Landlord and Tenant shall submit the question to arbitration as provided in Article 12 hereof. ARTICLE 12. ARBITRATION In cases in which a dispute arises under the Lease, the same shall be settled by arbitration in aceordance with the then existing rules of the American Arbitration Association, and judgment upon the award rendered may be entered in any court having jurisdiction thereof. Any such arbitration shall be had before a panel of three (3) arbitrators (unless Landlord or Tenant agree to one [lj arbitrator) designated by the American Arbitration Association in accordance with the rules of such association, and the decision of the majority of such arbitrators shall be binding upon the parties. The arbitrators designated and acting under the Lease shall make their award in strict conformity with such rules and shall have no power to depart from or change any of the provisions thereof. Each party to the arbitration shall pay one-half (1/2) of the costs thereof. All arbitration proceedings hereunder shall be conducted in Minneapolis, Minnesota. ARTICLE 13. ASSIGNMENT AND SUBLETTING Tenant shall not assign or transfer any of its rights under the Lease or sublease any part of the Premises (an Assignment) without prior written consent from Landlord. No Assignment shall relieve Tenant from any of its obligations contained in the Lease, nor shall any Assignment be effective unless the assignee shall, at the time of such Assignment, assume in writing all the terms, covenants, and conditions of the Lease to be performed thereafter by Tenant and sha11 agree in writing to be bound thereby. Tenant agrees to pay on behalf of Landlord any and all eosts of Landlord, including reasonable attorneys' fees occasioned by each Assignment. Consent by Landlord to any �