Orange County NC Website
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 />