Orange County NC Website
4. Filing against the Tenant in any court pursuant to any statute, either of the United States or <br /> of any state, of a petition in bankruptcy or insolvency, or for reorganization, or for appointment of a <br /> receiver or trustee of all or a portion of the Tenant's property, if within 180 days after the commencement <br /> of any such proceeding against the Tenant such petition shall not have been dismissed. <br /> B. Upon the expiration or termination of this lease, the Tenant shall peacefully surrender the leased <br /> property to the County, and the County, upon or at any time after such expiration or termination may, <br /> without further notice, reenter the leased property and repossess it by force, summary proceedings, <br /> ejectment, or otherwise, and may dispossess the Tenant and remove the Tenant and all other persons <br /> and property from the leased property and the right to receive all rental income therefrom. <br /> C. At any time after such expiration, the County may relet the leased property or any part thereof, in the <br /> name of the County or otherwise, for such term (which may be greater or less than the period which <br /> would otherwise have constituted the balance of the term of this lease) and on such conditions (which <br /> may include concessions or free rent) as the County, in its uncontrolled discretion, may determine, and <br /> may collect and receive the rent thereof. <br /> D. No such expiration of this lease shall relieve the Tenant of its liability or obligations under this lease, <br /> and such liability and obligations shall survive any such expiration. In the event of any such expiration, <br /> whether or not the leased property or any part any part thereof shall have been relet, the Tenant shall <br /> pay to the County the rent and additional rent required to be paid by the Tenant up to the time of such <br /> expiration, and thereafter the Tenant, until the end of what would have been the term of this lease in the <br /> absence of such expiration, shall be liable to the County for, and shall pay to the County, as and for <br /> liquidated and agreed current damages for the Tenant's default: <br /> 1. The equivalent of the amount of the rent and additional rent which would be payable under this lease <br /> 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 lease, after <br /> deducting all the County's reasonable expenses in connection with such reletting, including, <br /> without limitation, all repossession costs, brokerage Commissions, legal expenses, reasonable <br /> attorney's fees, alteration costs, and expenses of preparation for such reletting. <br /> (b) The net proceeds of any reletting effected pursuant to the provisions of paragraph d. of this <br /> article, after deducting all the County's reasonable expenses in connection with such reletting, <br /> including, without limitation, all repossession costs, brokerage commissions, legal expenses, <br /> reasonable attorney's fees, alteration costs, and expenses of preparation for such reletting. <br /> E. The Tenant shall pay such current damages (herein called "deficiency") to the County monthly on the <br /> days on which the rent and additional rent would have been payable under this lease if this lease were <br /> still in effect, and the County shall be entitled to recover from the Tenant each monthly deficiency as <br /> such deficiency shall 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 Tenant, and the <br /> Tenant shall pay to the County, on demand, as and for liquidated and agreed final damages for the <br /> Tenant's default, an amount equal to the difference between the rent and additional rent reserved <br /> hereunder for the expired portion of the lease of the leased property for the same period. In the <br /> computation of such damages the difference between any installment of rent becoming due hereunder <br /> after the date 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 termination at the rate <br /> of four percent per annum. <br /> F. The terms "enter", "reenter", "entry", or "reentry" as used in this lease are not restricted to their <br /> technical meaning. <br /> I <br />