Orange County NC Website
<br />ASS]GNMEN7 AND SIJRLE7"TING <br />18 Tenant shall not, without the prior written consent of Landlord, which shall nut be unreasonably withheld, assign this Lease or <br />any intcrest hereunder, or sublet the Premises or mty part thereof, or pcmtit the use oC the I'remiscs by any party other than thc'fenant. <br />Consent to any assignment or subicase shall not impair this provision and all later assignments or subh:ases shall be made likewise <br />only on the prior written consent of Landlord. The Assignee of Tenant, at option of Landlord, shall become directly liable to Landlord <br />for all oblications of Tenant hereunder, Uut no subicase or assignnent by Tenant shall relieve 7"errant of any liability hereunder. <br />EVENTS OF DEFAULT <br />19 The happening of anv one or more of the following events (hereinafter any one of which may be referred to as an 'T.vent of <br />Default") during the term of this Lease, or any renewal or extension thereof, shall constitute a breach of this Lease on the purl ol'the <br />Tenant (a) Tenant fails to pay the rental as provided for herein; (hj Tenant abandons or vacates the Premises-, (c) Ienant fails to <br />comply with or abide by and perfomt any other obligation imposed upon Tenant under Otis Lease; (d) Tenant is adjudicated barilirupt; <br />(e) A permanent receiver is appointed Cur ?enanPs property and such receiver is not removed within silty (GO) days afar written <br />notice from Landlord to Tenmtt to obtain such removal; (f) I'enan[, either voluntarily or invohmtarily, takes advantage of any debt or <br />relief proceedings under any present or future law, whereby the rent or any part thereof is, or is proposed to he, reduced or payment <br />thereof deferred; (g) Tenant makes au assignment for benef t oCcreditors; or (h) Tenants effects arc levied upon or attached under <br />process against Tenant, which is not satisfied or dissolved within thirty (3D) days after wri[[en notice from Landlord to Tenant to <br />obtain satisfaction thereof <br />REMEDIES t1POiV DI?.f ALIL.T <br />20. Upon the occurrence of L"•vent of Default, L.andtord may pursue any one or more of the following remedies separately or <br />concurrently, without prejudice to any other remedy herein provided or provided by law: (a) if the Gvenl oCDefault involves <br />nonpayment of rental and Tenant fails to cure such default within five (5) days after receipt of written notice thereof from landlord, or <br />if the Event of Dcftult involves a dciaul[ in pcrfomting any of the terms or provisions of this L.case other than the payment of rental <br />and 'I'cnant fails to cure such default within [iftecn (I S) days after receipt of written notice of default from Landlord, Landlord may <br />terminate this 1. ease by giving written nonce to Tenant and upon such temrination shall be entitled to recover from Tenant dantages as <br />may be permiaed under npphcablc law; or (b) if the Event of Default involves any matter other than those set forth in item (a) of iltis <br />paranraph, Landlord may terminate this L-case by giving written notice m Tenant and, upon such termination, shall be entitled to <br />recover from the Tenant damages in an amount equal to all rental which is due and all rental which svnuld otherwise have become due <br />throughout the remaining tcnn uC this Lease, or any renewal or cxtcnsion thereof (as if this Lease had not been terminated); or (c) <br />upon any Fvent oC C?efault, Landlord, as Tenant's agent, without terminating this Lease, may enter upon and rent the Premises, in <br />whale or in psri, at the best ln-ice obtainable by reasonable efion, without advertisement and by private ncgoiiations and Cor any tern <br />Landlord deems proper, ttdth Tenant being liable to Landlord for the deficievcy, if any, between Tenant's rent hereunder and the prioo <br />obtained by Landlord on reletting, provided however, that Landlord shall not be considered to be under any duty by mason of this <br />provision to take any action to rnitiGate damages by rcasnn of ] cnant's default In the event Landlord hires ml attorney to enforce its <br />rigids upon default. Tenant shall in addition be liable for reasonable attorney's fees and alt costs of collection <br />EaTERIOR SIGNS <br />21 7"errant shall plncc no signs upon the outside +valls or roof of the Premises, except with the express written consent of"lhc <br />Landlord. Any and all signs placed on the Premises by Tenant shall be tvaintained in compliance with govcrnmenml rules and <br />regulations governing such signs and I errant shall be responsible to Landlord for any damage caused by installation, use or <br />maintenance of said signs, and all damage incident to removal thereof <br />LANDLORD'S IiNTRY OF PREMISES <br />22 Landlord may advertise the Premises "fbr Renl" or "Poe Salc" ______180_ .. days before the termination of this I.case. <br />Landlord stay enter the Premises at reasonable hours to exhibit same to prospective purchasers or tenants and to make repairs required <br />of Landlord under the terms hereof or m mnke repairs to Landlord's adjoining property, if any <br />IiPFECT OF TIiILMINATION OP LEASF, <br />23 No termination of this Lease prior to the normal ending thereof, by lapse of time or othewise, shall artier Landlord's right to <br />collect rent for Otc period prior to termination thereof <br />MORTGAGEE'S RIGHTS <br />24, Tenant's rights shall be subject to any bona fide morn>,age, deed oftmst or other security intcrest which is now or may hercallcr <br />be placed upon the Premises by Landlord. Tenant shall, it requested by Landlord, execute a separate agreement reFlccting such <br />subordination, snit shall be oblig;ued to execute such documentation as may frcititate Landlord's sale or refinancing of Oro Premises, <br />including; but not limited io, estilppcl certificates, subordinaion or atmrnment agreements <br />Page 5 of S <br />Ten;uu initials ~~ <br />nd, man p,xluxt W FnnnataCnr"romc sraiN~r~ <br />L andk>rd lnitinls ~. ~_~_. <br />S I'ANU.ARD FUSiM 590-T <br />i:,r 7/200? <br />eooass ton <br />