Orange County NC Website
RB5573 530 7117 <br /> iii) Filing by the Tenant in any court pursuant to any statute, either of the <br /> United States or any state, or a petition in bankruptcy or insolvency or for <br /> reorganization, or for the appointment of a receiver or trustee of all or a <br /> portion of the Tenant's property, or an assignment by the Tenant for the <br /> benefit of creditors. <br /> iv) 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 <br /> for reorganization, or for appointment of a receiver or trustee of all or a <br /> portion of the Tenant's property, if within 180 days after the <br /> commencement of any such proceeding against the Tenant such petition <br /> shall not have been dismissed. <br /> v) Failure to comply with Federal and/ or state laws, or engaging in activities <br /> resulting in the loss or revocation of the Tenant's section 501(c)(3) tax <br /> exempt status. <br /> (b) Upon the expiration or termination of this lease, the Tenant shall peacefully <br /> surrender the Leased Premises to the County, and the County, upon or at any time after such <br /> expiration or termination, County may, without further notice, reenter the Leased Premises and <br /> repossess it by force, summary proceedings, ejectment, or otherwise, and may dispossess the <br /> Tenant and remove the Tenant and all other persons and property from the Leased Premises <br /> and the right to receive all rental income therefrom. <br /> (c) At any time after such expiration, the County may relet the Leased Premises 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 Premises 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 /> i) The equivalent of the amount of the rent and additional rent which would <br /> be payable under this lease by the Tenant if this lease were still in effect, <br /> less <br /> ii) The lesser of: <br /> 1. The fair rental value of the Leased Premises for the remaining term of <br /> the lease, after deducting all the County's reasonable expenses in <br /> connection with such reletting, including, without limitation, all <br /> repossession costs, brokerage Commissions, legal expenses, <br /> reasonable attorney's fees, alteration costs, and expenses of <br /> preparation for such reletting. <br /> 2. The net proceeds of any reletting effected pursuant to the provisions <br /> of paragraph d. of this article, after deducting all the County's <br /> 7 <br />