Agenda - 01-24-2012 - 5k - Laserfiche WebLink

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10 Landlord: Landlord fails to comply with or abide by and perform any material obligation imposed upon Landlord under this Lease within sixty (60) days after written notice of such breach or fails to commence a cure within thirty (30) days of such written notice. REMEDIES UPON DEFAULT 19. (a) Upon the occurrence of an Event of Default by Tenant, Landlord may pursue any one or more of the following remedies separately or concurrently, without prejudice to any other remedy herein provided or provided by law: (a) Landlord may terminate this Lease by giving written notice to Tenant and upon such termination shall be entitled to recover from Tenant damages as maybe permitted under applicable law; or (b) Landlord may, without terminating this Lease, enter upon and rent the Premises, in whole or in part, at the best price obtainable by reasonable effort, with Tenant being liable to Landlord for the deficiency, if any, between Tenant's rent hereunder and the price obtained by Landlord on reletting. Provided, however, that Landlord's sole remedy for Tenant's failure to timely pay rent shall be to assess the late charges described in paragraph 4 of this Lease unless Tenant has failed to make a required rental payment within ten (10) business days' written notice from Landlord that rent is past due and that failure to make the required rental payment within ten (10) business days from Tenant's receipt of said written notice could result in termination of this Lease, in which case Landlord shall be entitled to exercise any of its remedies under this paragraph 19. No termination of this Lease prior to the normal ending thereof, by lapse of time or otherwise, shall affect Landlord's right to collect rent for the period prior to termination thereof. (b} Upon the occurrence of an Event of Defaulf by the Landlord, Tenant shall have the right, upon written notice to Landlord, to expend any reasonable sums in the convection or curing of Landlord's failure to perform, and to deduct such sums from the rent due for the next rental period following the rental period in which the sums were paid. This remedy shall be in addition to any other remedies available to Tenant pursuant to this Lease, at law or in equity. EXTERIOR SIGNS 20. Tenant shall place no signs upon the outside walls, doors or roof of the Premises or anywhere on the Property, except with the express written consent of the Landlord in Landlord's sole discretion, provided that Landlord shall allow Tenant to display at least one clearly visible exterior sign, of reasonable size, shape and other characteristics, identifying the Premises as office space of the Chapel Hill-Carrboro City Schools. Any consent given by Landlord shall expressly not be a representation of or warranty of any legal entitlement to signage at the Premises or on the Property. Any and all signs placed on the Premises or the Property by Tenant shall be maintained in compliance with governmental n~les and regulations governing such signs and Tenant shall be responsible to Landlord for any damage caused by installation, use or maintenance of said signs, and all damage incident to removal thereof. LANDLORD'S ENTRY OF PREMISES 21. Landlord may advertise the Premises "For Rent" or "For Sale" ninety (90) days before the termination of this Lease. Landlord may enter the Premises upon prior notice at reasonable hours to exhibit same to prospective purchasers or tenants, to make repairs required of Landlord under the terms hereof, for reasonable business purposes and otherwise as may be agreed by Landlord and Tenant. Landlord may enter the Premises at any time without prior notice, in the event of an emergency or to make emergency repairs to the Premises. Upon request of Landlord, Tenant shall provide Landlord with a functioning key to the Premises and shall replace such key if the locks to the Premises are changed. Provided, however, that Landlord shall consult in advance with Tenant on the time and manner of any such access to the Premises, that any such access shall be consistent with any applicable written policies or procedures of the Chapel Hill-Carrboro Board of Education, that Landlord shall follow Tenant's procedures regazding signing in and wearing or carrying identification while on the Premises, and that such access shall not disrupt Tenant's use of the Premises. QUIET ENJOYMENT 22. So long as Tenant observes and performs the covenants and agreements contained herein, it shall at all times during the Lease term peacefully and quietly have and enjoy possession of the Premises, subject to the terms hereof HOLDING OVER 23. If Tenant remains in possession of the Premises after expiration of the term hereof, Tenant shall be a tenant at sufferance and there shall be no renewal of this Lease by operation of law. In such event, commencing on the date following the date of expiration of the term, the monthly rental payable under Paragraph 3 above shall for each month, or fraction thereof during which Tenant so remains in possession of the Premises, be twice the monthly rental otherwise payable under Paragraph 3 above.