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Consent to Structural Alteration
[Name] Tenant, referred to as Tenant, and [Name] Landord, referred to as Landord, agree:
Tenant is leasing certain property from the Landord, described as See Attached Exhibit A, pursuant to a lease agreement dated [Date], and pursuant to the lease, the prior consent of Landlord is required for the Tenant to make any structural changes in the property.
Landord herewith consents to the following structural changes to be made to the leased premises:
provided that the Tenant shall:
obtain and pay for all licenses and permits; submit all proposed contracts for the construction to the Landord for prior approval; utilize contractors and workmen who have been approved by Landord; require that the general contractor post a surety bond with a surety company acceptable to the Landord for payment of all mechanics, material and other lienors with Landord and Tenant named as Obligors; conduct the construction so that first class work is performed in a diligent fashion.
This agreement shall not effect or alter the lease described herein, except that at the conclusion of the lease and any renewals thereof, the Landord shall become the absolute owner of the structural improvements authorized herein;
In the event that the value of the property is reassessed for purposes of property taxation, after the construction permitted herein by the Landord, Tenant shall pay as additional rent, a sum equal to the increase in taxes.
"Increase in taxes" shall be defined as:
the amount of tax increase calculated as follows:
multiply the millage rate for the year in question by the value of the property prior to the construction (Value 1);
multiply the millage rate for the year in question by the value of the property after the construction (Value 2);
subtract value 1 from value 2. The remainder is the increase in tax.
In the event that this calculation results in a negative amount, Tenant shall not be entitled to a reduction in rent.
Other than those provisions specifically referenced herein, the lease agreement between the parties shall remain in full force and effect.