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Vanderbilt Whitney, as landlord, leased by written instrument to the trustees of the Whitney Museum of American Art, as tenants, certain proportions of the premises, Nos. 8, 10, 12, and 14 West Eighth Street, New York City, for a terms of ten years and four days, terminating December 1st 1945, and 
WHEREAS, under the terms of the said lease the tenants are to take good care of the premises leased and at their own cost and expense to make all repairs and improvements there to which may be required in connection with the operation of the premises purposes of an art gallery and exhibition rooms, with necessary offices, work rooms and storage facilities, and 
WHEREAS, there is no liability on the part of the tenant to pay any portion of the real estate taxes on the leased premises, but the landlord is liable for the entire amount thereof, and 
WHEREAS, in connection with the operation of the entire premises, Nos. 8, 10, 12, and 14 West Eighth Street, New York City, a portion only of which is leased by the tenant, and a portion retained by the landlord, the question has arisen as to the proper apportionment between landlord and the tenant of certain general operating expenses. Be it RESOLVED;
That all costs of fire insurance, plate glass insurance, general and public liability insurance, and all costs of heating, light, power, and water, for the entire premises, Nos. 8, 10, 12, and 14 West Eighth Street, New York City, shall be borne and paid two-thirds by the tenant, Whitney Museum of American Art, and one-third by the landlord Gertrude Vanderbilt Whitney.