2020-044 AMS - Charles Coates VB lease agreement

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(subject to the provisions of paragraph 1 hereof) ; (iv) demand for observance or performance of, or enforcement of, any terms or provisions of this Guaranty or the Lease ; (v) all of the notices and demands otherwise required by law which Guarantors may lawfully waive (subject to the provisions of paragraph 1 hereof) . Guarantors , to the extent that it may lawfully do so, also waive trial by jury in any action brought on or with respect to this Guaranty and agrees that in the event this Guaranty shall be enforced by suit or otherwise, or if Landlord shall exercise any of its remedies under the Lease, Guarantors will reimburse Landlord, upon demand, for all reasonable expenses incurred in connection therewith, including, without limitation, reasonable attorneys ' fees . 5 . If Guarantors at any time before or after the date hereof have advanced or shall advance any sums to the Tenant, or if the Tenant shall be or shall become indebted to the Guarantors , such sums and indebtedness shall be subordinate in all respects to the amounts then or thereafter due and owing to Landlord under the Lease . Nothing herein contained shall be construed to give the Guarantors any right of subordination in and to the Landlord' s rights under or interest in the Lease until all amounts owed to Landlord thereunder have been paid in full . 6 . Any notice, demand, request or other communication given hereunder or in connection herewith (hereinafter "Notices") shall be deemed sufficient if in writing and sent by first class mail, postage prepaid, addressed to the party to receive such Notice : If to Landlord at: Charles J. Coates 5001 Cole Mill Road, Durham, NC 27705 If to Guarantors at: OCCIAMIP COU P1 a 2181 Ni11SboYC> Ug4 NC Phone Either party may from time to time change the address to which Notices are to be directed by Notice given in like fashion. Notices shall be deemed given when received. 7 . All rights and remedies afforded to Landlord by reason of this Guaranty and the Lease, or by law, are separate and cumulative and joint and several and the exercise of one shall not in any way limit or prejudice the exercise of any of other such rights or remedies . No delay or omission by Landlord in exercising such right or remedy shall operate as a waiver thereof. No waiver of any rights and remedies hereunder, and no modification or amendment hereof, shall be deemed made by Landlord unless in writing and duly signed by Landlord. Any such written waiver shall apply only to the particular instance specified therein and shall not impair the further exercise of such right or remedy or of any other right or remedy of Landlord, and no single or partial exercise of any right or remedy hereunder shall preclude any other or further exercise thereof or of any right or remedy. 8 . This Guaranty shall inure to the benefit of, and be enforceable by, Landlord and its successors and assigns as owners of the Landlord' s interest in the Lease or in the Lease Premises and shall be binding upon and enforceable against, Guarantors and their respective heirs, legal representatives and assigns . 9 . If Guarantors are other than an individual, the officers , agents or others executing this Guaranty on behalf of the Guarantors personally warrant and represent to Landlord that they have been authorized to execute this Guaranty by and on behalf of the Guarantors . 10 . This Guaranty shall be governed by the internal laws of the State of North Carolina. IN WITNESS WHEREOF, Guarantors have e ecuted is Guaranty . d r se , the day and ye sit l� e written. �� C��rt N { &XAAA Or e C un i (prin ame of Guarantor) // +r AA KKK 1ias ° a �tials 17 (308 W. Franklin St. ) ) an d Tenant