Agenda - 04-01-2008-4i - Laserfiche WebLink

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is Landlord agrees that., except as set: 'forth in this Paragraph 10 of this Lease, it will not sell,. convey, mortgage>, encumber or otherwise .d'ispos'e of any part of the Premises during the. Lease Term as provided in Paragraph 2 of -this. .Lease... c. Tenant may from-rime to ime, in its sole- discr.etion- and:.at its own expense; install machinery and equipment in the structures or atherwis;e on the Premises: All machinery and equipment. so installed by Tenant shall remain the sole property of Tenant. It may be modified or-remoued at any time while Tenant is riot.. in defaia.lt hereunder and shall not be subject to lien but all such machinery and equipment sha l be subject to any landlord's lien allowed by law. Provided, hiowever, Tenant shall promptly make, at its sole expense, any and all repairs to the Prremses rir to 'the 'structures on the' Premises recess-fated by the reimovai by Tenant of any such machinery and equipment: The need, for repairs shal]~ be those reasonably determined to be necessary by Landlord. Tenant. shall notify Landlord upon the removal: of any such-machnery and equipment to enable Landlord to inspect. the Premises to mace a determinaticin of the repairs, if .any, to be made~'to the-.Premises. Nothing contained in this Paragraph. shall prevent Tenant tram ;purchas-ng machinery aril equipment on cgnda.t'ioxial sa~.e contract or lease: sale. contract, or subject to vendor:'s lien or purchase money mortgage, as security_ for the unpaid portion of the purchase price. thereof., and each such conditional sale.. contract., lease sale contract, vendor's Tien-and. purchase money mortgage made, by Tenant wth.respec:t to machinery and equipment purcPased by it under the provisions of this Paragraph shall, if appropriate financing statements are duly filed for record iri the manner and places required by the North Carolina Uniform Commercial Coda si:multarieously with or prior to the installation at .the Premises of the machinery and equipment covered thereby, be. prior and superior to any landlord's.lien. Tenai.t agrees to pay as clue the purchase price of and all: costs and expenses with respect to the acquisition and installation of. any machinery and equipment installed by it pursuant to this Paragraph. 11. .Events _of Default.. and Remedies,. ` a. The, following sha11 be "events of default:" under this Lease and the, terms "event of default"' or "default" shall mean, whenever they are used in this Lease,; any one or more of the tollawing,events: O Failure by Tenant to ,pay the rents required to be paid at the times specified ar-d {1) continuation of said :failure for a period of five days of-ter notice by mail given to i:t by Landlord:thaG the-rent ref erred to in such notice has not been received or (2) continuation of said failure for a period of fifteen days- . {ii) 'Failure. by Tenant to-observe and perform any covenant, condition or agreement: on its-part to be observed or° performe3, other than as referxed to in subsection {') of this 14.