Orange County NC Website
1. The equivalent of the amount of the rent and additional rent which would be payable <br />under this lease by the Tenant if this lease were still in effect, less <br />2. The greater of: <br />(a) The fair rental value of the leased property for the remaining term of the <br />lease, after deducting all the County's reasonable expenses in connection <br />with such reletting, including, without limitation, all repossession costs, brokerage <br />Commissions, legal expenses, reasonable attorney's fees, alteration costs, and <br />expenses of preparation for such reletting. <br />(b) The net proceeds of any reletting effected pursuant to the provisions of <br />paragraph d. of this article, after deducting all the County's reasonable expenses <br />in connection with such reletting, including, without limitation, all repossession <br />costs, brokerage commissions, legal expenses, reasonable attorney's fees, <br />alteration costs, and expenses of preparation for such reletting. <br />E. The Tenant shall pay such current damages (herein called "deficiency") to the <br />County monthly on the days on which the rent and additional rent would have been <br />payable under this lease if this lease were still in effect, and the County shall be <br />entitled to recover from the Tenant each monthly deficiency as such deficiency shall <br />arise. At any time after any such expiration, whether or not the County shall have <br />collected any monthly deficiency, the County shall be entitled to recover from the <br />Tenant, and the Tenant shall pay to the County, on demand, as and for liquidated and <br />agreed final damages for the Tenant's default, an amount equal to the difference <br />between the rent and additional rent reserved hereunder for the expired portion of the <br />lease of the leased property for the same period. In the computation of such damages <br />the difference between any installment of rent becoming due hereunder after the date <br />of termination and the fair and reasonable rental value of the leased property for the <br />period for which such installment was payable shall be discontinued to the date of <br />termination at the rate of four percent per annum. <br />F. The terms "enter", "reenter", "ent " " " <br />ry, or reentry as used in this lease are not <br />restricted to their technical meaning. <br />18. Lien on Tenant's Improvements and Personal Proqertv. The County <br />shall have first lien paramount to all others on every right and interest of the Tenant in <br />and to this lease, and on any building or improvement on or hereafter placed on the <br />leased property, and on any furnishings, equipment, fixtures, or other personal property <br />of any kind belonging to the Tenant, or the equity of the Tenant therein, on the leased <br />property. Such lien is granted for the purpose of covenanted to be paid by the Tenant, <br />and for the purpose of securing the performance of all of the Tenant's obligations under <br />this lease. Such liens shall be in addition to all rights of the County given under <br />statutes of this state, which are now or shall hereinafter be in effect. The provisions of <br />this paragraph shall not be applicable to liens existing at the commencement of this <br />lease. . <br />