Orange County NC Website
12 <br />0 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 between <br />the rent and additional rent reserved hereunder for the expired portion of the lease of the <br />Leased Premises for the same period. In the computation of such damages the difference <br />between any installment of rent becoming due hereunder after the date of termination <br />and the fair and reasonable rental value of the Leased Premises for the period for which <br />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", Open try", or "reentry" as used In this lease are <br />not restricted to their technical meaning. <br />18. Lien on Tenant's Improvements and Personal Property. The County shall <br />have first lien paramount to all others on every right and interest of the Tenant in and to <br />this lease, and on any building or improvement on or hereafter placed on the Leased <br />Premises, and on any FFE, or other personal property of any kind belonging to the <br />Tenant, or the equity of the Tenant therein, on the Leased Premises. Such lien is granted <br />for the purpose of covenanted to be paid by the Tenant, and for the purpose of securing <br />the performance of all of the Tenant's obligations under this lease. Such liens shall be in <br />addition to all rights of the County given under statutes of this state, which are now or <br />shall hereinafter be in effect. The provisions of this paragraph shall not be applicable to <br />liens existing at the commencement of this lease. Provided, that County may, at his <br />option, agree to subordinate this lien to liens arising in connection with purchased of <br />equipment or leasehold improvement financing by Tenant, which agreement County <br />covenants not to unreasonably withhold. <br />19. County's Right to Receiver upon Tenant's Default. In addition to any <br />other security for the performance of this lease, the Tenant hereby assigns to the County <br />all of the rents and profits which might otherwise accrue to the Tenant from the use, <br />enjoyment, and operation of the Leased Premises, such assignment to become eff ective, <br />however, only after default by the Tenant in the performance of its obligations under this <br />lease. If the County, upon default of the Tenant, elects to file a suit in equity to enforce <br />the lease and protect the County's right hereunder, the County may upon notice to the <br />Tenant, as ancillary to such suit, apply to any court having jurisdiction for the <br />appointment of a receiver of the Leased Premises, the improvements and buildings <br />located thereon, the personal property located therein, and thereupon the court may <br />forthwith appoint a receiver with the usual powers and duties of receivers in like cases. <br />Such appointment shall be made by such court as a matter of strict right to the County <br />and without consideration of the adequacy of the value of the Tenant's interest in the <br />lease, or of the value of the property, or the commission of waste thereon, or the <br />deterioration thereof. Nothing herein shall prevent the enforcement of the County's lien <br />10 <br />