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1995 S Purchasing - Lease Renewal of Carrboro Plaza Driver License Bureau
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1995 S Purchasing - Lease Renewal of Carrboro Plaza Driver License Bureau
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Last modified
8/28/2014 8:54:20 AM
Creation date
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BOCC
Date
2/6/1995
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
VIII-J
Document Relationships
Agenda - 02-06-1995 - VIII-J
(Attachment)
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\Board of County Commissioners\BOCC Agendas\1990's\1995\Agenda - 02-06-95
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conditions as LANDLORD in its sole discretion may deem advisable. Upon each such reletting all <br /> rentals received by LANDLORD from such reletting shall be applied, first, to the payment of any <br /> damages or indebtedness other than rent due hereunder from COUNTY to LANDLORD, second, <br /> to the payment of any debts and expenses of such reletting, including brokerage fees, attorney's fees <br /> and costs of such alterations and repairs,third,to the payment of rent due and unpaid hereunder, and <br /> the residue, if any, shall be held by LANDLORD and applied in payment of future rent as the same <br /> may become due and payable hereunder. If such rentals received from such reletting during any <br /> month are less than that to be paid during that month by COUNTY hereunder, COUNTY shall <br /> promptly pay any such deficiency to LANDLORD. LANDLORD reserves the right to bring any <br /> action or legal proceeding for the recovery of any deficits remaining unpaid as LANDLORD may <br /> deem favorable, from time-to-time, without being obliged to wait until the end of the thereof or of <br /> any renewals or extensions thereof; for the final determination of COUNTY's account. No such re- <br /> entry or taking possession of said Premises by LANDLORD shall be construed as an election on <br /> LANDLORD's part to terminate this Lease unless a written notice of such intention be given to <br /> COUNTY by LANDLORD or unless the termination hereof be decreed by a Court of competent <br /> jurisdiction. <br /> Notwithstanding any such reletting without, termination, LANDLORD may at any time elect to <br /> terminate this Lease for any breach or default by COUNTY. COUNTY may also, upon giving <br /> LANDLORD notice and reasonable opportunity to remedy a breach or default, elect to terminate this <br /> Lease for such breach or default by LANDLORD, subject to the notification to LANDLORD's lender <br /> as haminabove set forth. Should LANDLORD or COUNTY at any time terminate this Lease for any <br /> breach or default, then, in addition to any other remedies LANDLORD or COUNTY may have, <br /> LANDLORD or COUNTY may recover from the other all damages incurred by reason of such <br /> breach,including the costs of recovering the Premises or vacating the Premises as the case may be, <br /> and reasonable attorney's fees. All indebtedness due LANDLORD by COUNTY, including the worth <br /> at the time of payment of the excess, if any, of the amount of all rent and other payments reserved <br /> in this Lease for the remainder of the stated term over the then reasonable rental value of the Premises <br /> for the remainder of the stated term,all of which amounts shall be immediately due and payable from <br /> COUNTY to LANDLORD. In determining the reasonable rental value of the Premises for the <br /> remainder of the stated term, the value of the actual rental obligations of the COUNTY, if any, to <br /> whom the LANDLORD has relet the Premises, if commercially reasonable, shall be considered the <br /> then reasonable rental value. <br /> 20. LANDLORD'S RIGHT TO MORTGAGE AND SELL. Within twenty(20) days <br /> after request therefor by LANDLORD, or in the event that upon any sale, assignment, or <br /> hypothecation of the Premises and/or the land thereunder by LANDLORD, an estoppel certificate <br /> or similar statement shall be required from COUNTY, COUNTY agrees to deliver, in recordable <br /> form, a certificate to any proposed mortgagee or purchaser, or to LANDLORD certifying(if such <br /> be the case)that this Lease is in full force and effect and that there are no defenses or offsets thereto, <br /> or stating those claimed by COUNTY. <br /> This Lease is and shall be subject and subordinate at all times to the lien of any mortgages in any <br /> amount or amounts on all or any part of the land or buildings as shown on Exhibit "A" and to all <br /> 7 <br />
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