WS - D - Land Lease - City of Tiffin - Iowa Interstate Railroad

liable for any inconvenience, annoyance, disturbance, loss of business, economic loss or any other damage or loss to CITY should it grant any easement. 11.01 Eminent Domain. Should any part or all of the Premises be taken, appropriated, or condemned for public purposes or voluntarily transferred in lieu of condemnation, in whole or in such substantial part as to render the Premises unsuitable for the purposes of either CITY or RAILROAD, the Term of this Lease Agreement shall terminate if all of CITY’s right to possession is terminated. If the portion of the Premises taken, appropriated or condemned by any local governmental authority, or voluntarily transferred in lieu of condemnation, does not render the Premises unsuitable for CITY’s purposes, then this Lease Agreement shall terminate only as to the part taken or conveyed and CITY shall yield possession of that part taken; CITY’s Rent property tax obligation shall be equitably and proportionately reduced to reflect CITY’s corresponding loss of use of that part of the Premises that is taken. All compensation awarded for such taking of the fee and leasehold shall belong to and be the property of RAILROAD without any deduction therefrom for any present or future estate of CITY and CITY hereby assigns to RAILROAD all its right, title and interest to any such award. However, CITY shall have the right to recover from the condemning authority, but not from RAILROAD, such compensation as may be awarded to RAILROAD or CITY on account of interruption of CITY’s business, for moving and relocation expenses for CITY. 11.02 Notices. Where one party is required to give written notice to the other party pursuant to the terms of this Lease Agreement, such notice may be provided via Registered or certified mail, or by overnight carrier, addressed as follows: RAILROAD: Chief Engineer 5900 6th Street SW Cedar Rapids, Iowa 52404 CITY: City of Tiffin Tiffin City Hall 201 Main St., PO BOX 259 Tiffin, IA 52340 When written notice is provided by registered or certified mail or overnight carrier, it is deemed delivered as of the date of mailing. 9