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if corrective action is instituted by the Board of Education <br /> within the applicable period and diligently pursued until such <br /> failure is corrected and, further, that if by reason of any <br /> event or occurrence constituting force majeure the Board of <br /> Education is unable in whole or in part to carry out any of <br /> its agreements contained herein (other than its obligations <br /> contained in sections 6.2 or 8. 1) , the Board of Education <br /> shall not be deemed in default during the continuance of such <br /> event or occurrence. <br /> (c) The dissolution or liquidation of the Board of Education <br /> or the voluntary initiation by the Board of Education of any <br /> proceeding under any federal or state law relating to <br /> bankruptcy, insolvency, arrangement, reorganization, <br /> readjustment of debt or any other form of debtor relief, or <br /> the initiation against the Board of Education of any such <br /> proceeding which shall remain undismissed for sixty (60) days,. <br /> or the entry by the Board of Education into an agreement of <br /> composition with creditors or the Board of Education's failure <br /> generally to pay its debts as they become due. <br /> 12 . 2 Remedies on Default. Whenever any Event of Default <br /> shall have happened and be continuing, the County may take one or <br /> any combination of the following remedial steps: <br /> (a) Terminate this Lease, evict the Board of Education from <br /> the Leased Property or any portion thereof and re-lease the <br /> Leased Property or any portion thereof. <br /> (b) Have reasonable access to and inspect, examine and make <br /> copies of the Board of Education's books and records and <br /> accounts during the Board of Education's regular business <br /> hours, if reasonably necessary in the County's opinion. <br /> (c) Take whatever action at law or in equity may appear <br /> necessary or desirable, including the appointment of a <br /> receiver, to collect the amounts then due, or to enforce <br /> performance and observance of any obligation, agreement or <br /> covenant of the Board of Education under this Lease. <br /> Any amount collected pursuant to action taken under this <br /> Section shall be applied in accordance with the Installment <br /> Purchase Contract. <br /> 12 . 3 No Remedy Exclusive. No remedy herein conferred upon or <br /> reserved to the County is intended to be exclusive, and every such <br /> remedy shall be cumulative and shall be in addition to every other <br /> remedy given hereunder and every remedy now or hereafter existing <br /> at law or in equity. No delay or omission to exercise any right or <br /> power accruing upon any default shall impair any such right or <br /> BWNY/133845.2/15880/00013/1537 December 14, 1994 10 <br />