Orange County NC Website
reorganization, or for the appointment of a receiver or trustee of all or a portion of the <br /> Tenant's property, or an assignment by the Tenant for the benefit of creditors. <br /> 4. Filing against the Tenant in any court pursuant to any statute, either of the <br /> United States or of any state, of a petition in bankruptcy or insolvency, or for <br /> reorganization, or for appointment of a receiver or trustee of all or a portion of the <br /> Tenant's property, if within 180 days after the commencement of any such proceeding <br /> against the Tenant such petition shall not have been dismissed. <br /> B. Upon the expiration or termination of this lease, the Tenant shall peacefully <br /> surrender the leased property to the County, and the County, upon or at any time after <br /> such expiration or termination may, without further notice, reenter the leased property <br /> and repossess it by force, summary proceedings, ejectment, or otherwise, and may <br /> dispossess the Tenant and remove the Tenant and all other persons and property from <br /> 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 <br /> part thereof, in the name of the County or otherwise, for such term (which may be <br /> greater or less than the period which would otherwise have constituted the balance of <br /> the term of this lease) and on such conditions (which may include concessions or free <br /> rent) as the County, in its uncontrolled discretion, may determine, and may collect and <br /> receive the rent thereof. <br /> D. No such expiration of this lease shall relieve the Tenant of its liability or obligations <br /> under this lease, and such liability and obligations shall survive any such expiration. In <br /> the event of any such expiration, whether or not the leased property or any part any part <br /> thereof shall have been relet, the Tenant shall pay to the County the rent and additional <br /> rent required to be paid by the Tenant up to the time of such expiration, and thereafter <br /> the Tenant, until the end of what would have been the term of this lease in the absence <br /> of such expiration, shall be liable to the County for, and shall pay to the County, as and <br /> for 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 <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 <br /> the lease, after deducting all the County's reasonable expenses in connection with <br /> 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 <br /> provisions of paragraph d. of this article, after deducting all the County's reasonable <br /> expenses in connection with such reletting, including, without limitation, all <br /> repossession costs, brokerage commissions, legal expenses, reasonable attorney's <br /> fees, alteration costs, and expenses of preparation for such reletting. <br /> 7 <br />