Agenda - 11-04-1985 - Laserfiche WebLink

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set out in this Paragraph No. 14 elect to terminate this lease and may termi- nate it by giving written notice to that effect to the Lessee. If the Lessor shall at any time terminate this lease on account of • any default set out in this paragraph, .in addition to other remedies it may have, it may recover from the Lessee all damages that•it may suffer by rea- son of the"termination of the lease, including, but not limited to, the cost of recovering possession of the Leased Premises, and the excess, if any, of the amount of rent and other amounts to be paid by the Lessee under the terms of the lease for the remainder of the stated term, over the then rea- sonable rental value of the premises for the.remainder of the stated term. • In addition to the foregoing, if after a default by Lessee an • attorney is employed to enforce the monetary obligations evidenced by this Agreement or to assist the Lessor in connection with its exercise of any right, power, privilege or remedy referred to herein, Lessee agrees to pay promptly all costs incurred by Lessor with respect to collection of enforce- meat including reasonable attorney'•s ,fees and court costs.. The Lessee acknowledges that all accounts are due and payable as required in the lease and a finance charge of 1 1/2% per month, which is an annual percentage rate of 18% will be charged by Lessor on all past due . accounts. 15. Constructive Default. (1) If, before or during the term of this lease, the Lessee shall be adjudged as bankrupt, or if any proceeding under the federal bankruptcy laws shall be filed by or against the Lessee, then such occurrence shall be deemed a breach of this lease and, upon the happen- ing of such event, this lease, IPSO FACTO. shall terminate, and the Lessee shall be liable for all damages sustained by the Lessor as provided by law. (2) If, before or during the term of this lease or any renewal thereof (a) the Lessee shall make an assignment for the benefit of creditors or (b) a receiver shall be appointed for the property of the Lessee by order of a court of competent jurisdiction by reason of the insolvency or alleged insolvency or otherwise of the Lessee, or (c) any department of the state or federal government, or any officer thereof authorized by order of court • shall take possession of the business property of the Lessee by reason of the insolvency or alleged insolvency of the Lessee, or (d) should execution issue on any judgement and be levied against Lessee's interests in•said Leased Premises under this lease, then, upon the happening of any one or more of such event, at the option of the Lessor, this lease may be termi- ' nated by the Lessor by written notice to that effect to the Lessee, and the Lessor shall, in addition to any other remedies provided by law in case of default by the Lessee, be entitled to the damages set out in the last sen- tence of 14 above. Paragraph 16. Assignment and Sublettiing. Lessee shall not sell, assign, pledge or hypothecate this lease, or sublet the Leased Premises or any part thereof without the prior written consent of Lessor, which consent shall not be un- reasonably withheld. Consent by Lessor to one assignment qr subletting shall not destroy or operate as a waiver of' the'prFihibitions contained in this paragraph as to future assignments or subleases and all such later assignments or subleases shall be made only with Lessor's proper written . consent. In the event any assignment of the lease or subletting of the Leased Premises is consented to by the Lessor, Lessee shall remain liable to . Lessor for payment of all rent herein provided for and for the faithful per- , formance of all the covenants and conditions of this lease by any assignee or. sublessees to the same extent as if the lease had not been assigned or the Leased Premises sublet. If this lease shall be assigned or the premises sublet by Lessee at a rental that exceeds all rental to be paid to Lessor hereunder, then and in such event any such excess shall be paid over to Lessor by Lessee. -7- •