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Agenda - 12-04-2017 - 8-e - Alliance for Historic Hillsborough Lease- Dickson House, 150 King Street, Hillsborough
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Agenda - 12-04-2017 - 8-e - Alliance for Historic Hillsborough Lease- Dickson House, 150 King Street, Hillsborough
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BOCC
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12/4/2017
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Regular Meeting
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Agenda
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8e
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Minutes 12-04-2017
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9 <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 <br /> or any part thereof, in the name of the County or otherwise, for such term (which may be greater <br /> or 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 <br /> its 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 thereof shall have been relet, the Tenant shall pay to the County <br /> the rent and additional rent required to be paid by the Tenant up to the time of such expiration, <br /> and thereafter the Tenant, until the end of what would have been the term of this Lease in the <br /> absence of such expiration, shall be liable to the County for, and shall pay to the County, as <br /> and for liquidated and agreed current damages for the Tenant's default: <br /> 1. The equivalent of the amount of the rent and additional rent which <br /> would be payable under this Lease by the Tenant if this Lease were still in effect, less <br /> 2. The greater of: <br /> (a) The fair rental value of the Leased Premises for the remaining term <br /> of the Lease, after deducting all the County's reasonable expenses in connection with such <br /> reletting, including, without limitation, all repossession costs, brokerage Commissions, legal <br /> expenses, reasonable attorney's fees, alteration costs, and expenses of preparation for such <br /> reletting. <br /> (b) The net proceeds of any reletting effected pursuant to the provisions <br /> of paragraph d. of this article, after deducting the County's reasonable expenses in connection <br /> with such reletting, including, without limitation, all repossession costs, brokerage <br /> commissions, legal expenses, reasonable attorney's fees, alteration costs, and expenses of <br /> preparation for such reletting. <br /> (e) The Tenant shall pay such current damages (herein called "deficiency") to the <br /> County monthly on the days on which the rent and additional rent would have been payable <br /> under this Lease if this Lease were still in effect, and the County shall be entitled to recover from <br /> the Tenant each monthly deficiency as such deficiency shall arise. At any time after any such <br /> expiration, whether the County shall have collected any monthly deficiency, the County shall be <br /> entitled to recover from the Tenant, and the Tenant shall pay to the County, on demand, as and <br /> for liquidated and agreed final damages for the Tenant's default, an amount equal to the <br /> difference between the rent and additional rent reserved hereunder for the expired portion of the <br /> Lease of the Leased Premises for the same period. In the computation of such damages the <br /> difference between any installment of rent becoming due hereunder after the date of termination <br /> and the fair and reasonable rental value of the Leased Premises for the period for which such <br /> installment was payable shall be discontinued to the date of termination at the rate of four <br /> percent per annum. <br /> Page 6 of 12 <br />
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