Orange County NC Website
10 <br /> 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 it 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 /> betweery th a rent and additional-rent reserved hereunder f6if the expired portion.of the <br /> . <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..q.which.-such-installment.,was payable shall be discontinued-to the dater of <br /> termination at the rate of four percent per annum. <br /> F. The terms "entern, 'reenter", "enfryu, or *reentry, as used in this lease are not <br /> restricted to their technical meaning. <br /> 18. Lien on Tenants Imnrovements and Personal Property. 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 Tenants 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 />