Orange County NC Website
10 <br />(a) The occurrence of any of the following shall constitute an event of <br />default: <br />i) Delinquency in the punctual payment of any rent or additional rent <br />payable under this lease when such rent shall become payable. <br />Should such rent payment not be made when due then upon the <br />expiration of five days after the due date, such rent payment shall be <br />delinquent. <br />Delinquency by the Tenant in the performance of or compliance <br />with any of the conditions contained in this lease other than those <br />referred to in the foregoing subparagraph 1, for a period of thirty <br />(30) days after written notice thereof from the County to the Tenant. <br />In the event, Tenant is incapable of curing the default within such <br />thirty {30} day period, the County may in its discretion extend the <br />time for as long as the County deems necessary to cure such default. <br />Provided, however, the Tenant shall promptly and diligently <br />commence action to cure such default and provide County with <br />evidence of Tenant's intent to cure the default. Any additional <br />period of time beyond thirty (30) days granted to Tenant to cure any <br />default shall not be so extended as to jeopardize the interest of the <br />County in this lease or so as to subject the County to any civil or <br />criminal liabilities. <br />iii} Filing by the Tenant in any court pursuant to any statute, either of <br />the United States or any state, or a petition in bankruptcy or <br />insolvency or for reorganization, or for the appointment of a <br />receiver or trustee of all or a portion of the Tenant's property, or an <br />assignment by the Tenant for the benefit of creditors. <br />iv) Filing against the Tenant in any court pursuant to any statute, either <br />of the United States or of any state, of a petition in bankruptcy or <br />insolvency, or for reorganization, or for appointment of a receiver <br />or trustee of all or a portion of the Tenant's property, if within 180 <br />days after the commencement of any such proceeding against the <br />Tenant such petition shall not have been dismissed. <br />v) Failure to comply with Federal and/ or state lags, or engaging in <br />activities resulting in the loss or revocation of the Tenant's section <br />501 (c)(3) tax exempt status. <br />(b) Upon the expiration or termination of this lease, the Tenant shall <br />peacefully surrender the Leased Premises to the County, and the County, upon or at any <br />time after such expiration or termination, County may, without further notice, reenter the <br />8 <br />