Orange County NC Website
Tenant and remove the Tenant and all other persons and property from the leased property and <br /> the right to receive all rental income therefrom. <br /> (c) At any time after such expiration, the County may relet the leased property or <br /> any part thereof, in the name of the County or otherwise, for such term (which may be greater or <br /> less than the period which would otherwise have constituted the balance of the term of this <br /> lease) and on such conditions (which may include concessions or free rent) as the County, in its <br /> uncontrolled discretion, may determine, and may collect and receive the rent thereof. <br /> (d) No such expiration or termination of this lease shall relieve the Tenant of its <br /> liability or obligations under this lease, and such liability and obligations shall survive any such <br /> expiration or termination. In the event of any such expiration or termination, whether or not the <br /> leased property or any part any part thereof shall have been relet, the Tenant shall pay to the <br /> 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 <br /> lease in the absence of such expiration, shall be liable to the County for, and shall pay to the <br /> County, as and 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 <br /> would be payable 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 such <br /> reletting, including, without limitation, all repossession costs, brokerage Commissions, legal <br /> expenses, reasonable attorney's fees, alteration costs, and expenses of preparation for such <br /> reletting. <br /> (b) The net proceeds of any reletting effected pursuant to they provisions <br /> of paragraph d. of this article, after deducting 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 expenses of <br /> preparation for such reletting. <br /> (e) The Tenant shall pay such current damages (herein called "deficiency") to <br /> the County monthly on the days on which the rent and additional rent would have been payable <br /> under this lease if this lease were still in effect, and the County shall be entitled to recover from <br /> the Tenant each monthly deficiency as such deficiency shall arise. At any time after any such <br /> expiration, whether or not the County shall have collected any monthly deficiency, the County <br /> shall be entitled to recover from the Tenant, and the Tenant shall pay to the County, on <br /> demand, as and for liquidated and agreed final damages for the Tenant's default, an amount <br /> equal to the difference between the rent and additional rent reserved hereunder for the expired <br /> portion of the lease of the leased property for the same period. In the computation of such <br /> damages 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 period for <br /> 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 <br /> restricted to their technical meaning. <br /> Page 6of12 <br />