2020-090 AMS - Avison Young Europa Center Lease SDC

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wares , chattels , fixtures , furniture , equipment and other property of Tenant which may be in or upon the Rented Space or the Europa Center. Such lien may be enforced in any lawful manner by of the Landlord . (f) Landlord ' s Option to Cure . If Tenant defaults in the performance of any of its obligations under this Lease , including without limitation , its obligations under Section 9 hereof, then Landlord or any mortgagee or ground lessee of Landlord may, at its option , cure such default , and Tenant shall pay to Landlord or such mortgagee or ground lessor, as the case may be , the cost of such cure immediately upon being billed for same . ( g ) No Waiver . The failure of Landlord to declare Tenant to be in default at any time or to exercise any of its rights or remedies upon default any by Tenant shall not be deemed to be a waiver by Landlord of any of its rights or remedies hereunder . 15 . HOLDING OVER . In the event the Tenant remains in possession of the Rented Space after the expiration of the Term without the written consent of Landlord , then the Tenant shall be a tenant at sufferance from month to month only , and the Tenant shall then be obligated to pay two hundred percent ( 200 % ) of the then current Base Rent and all other sums then payable hereunder ( " Holding Over Rent" ) , in equal installments on the first day of each calendar month for so long as Landlord is kept out of possession of the Rented Space . Neither such payment nor the acceptance of such payment shall in any way constitute a waiver of the rights of Landlord to dispossess the Tenant and recover possession of the Rented Space and the just and former estate of the Landlord and to bring any action for damages suffered by Landlord on account of Tenant' s failure to vacate the Rented Space . 16 . SURRENDER OF RENTED SPACE . Upon the expiration or other termination of the Term , Tenant shall quit and surrender to Landlord the Rented Space , broom clean , in good order and condition , ordinary wear excepted , and Tenant shall remove all of its property except as otherwise provided in Section 10 . 17 . DAMAGE TO RENTED SPACE OR BUILDING . ( a ) Landlord ' s Insurance . Landlord shall maintain standard fire and extended coverage insurance covering the Building in an amount not less than 80 % ( or such greater percentage as may be necessary to comply with the provisions of any co - insurance clauses of the policy ) of the " replacement cost" thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto , insuring against special causes of loss ( including the perils of fire and lighting ) , such coverages and endorsements to be as defined , provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the State of North Carolina . Subject to the provisions of Section 19 below , such insurance shall be for the sole benefit of Landlord and under its sole control . ( b ) Notice by Tenant . If the Rented Space is damaged or destroyed by any peril covered by the insurance to be provided by Landlord under subparagraph ( a ) above , Tenant shall give immediate written notice thereof to Landlord . ( c ) Extensive Damage . If the Rented Space is so damaged by any peril covered by the insurance to be provided by Landlord under subparagraph ( a ) above that rebuilding or repairs cannot in Landlord ' s estimation be completed within one hundred fifty ( 150 ) days after the date upon which Landlord is notified by Tenant of such damage , this Lease shall terminate , and the rent shall be abated during the unexpired portion of this Lease , effective upon the date of the occurrence of such damage . Notwithstanding the above , Tenant shall have the right of termination if the Rented Space becomes uninhabitable or partially uninhabitable due to damage by peril , and Landlord has not commenced substantive repairs within 60 days of such event . ( d ) Repairable Damage . If the Rented Space is damaged by any peril covered by the insurance to be provided by Landlord under subparagraph ( a ) above , but only to such extent that rebuilding or repairs can , in Landlord ' s estimation , be completed within one hundred fifty ( 150 ) days after the date upon which Landlord is notified by Tenant of such damage , this Lease shall not terminate , and Landlord shall , at its sole cost and expense , thereupon proceed with reasonable diligence to rebuild and repair the Rented Space to substantially the condition in which it existed prior to such damage , except that Landlord shall not be required to rebuild , repair or replace any part of the partitions , fixtures , additions and other improvements which may have been placed in , on or about the Rented Space by Tenant . There shall be no abatement of rent during any such period of rebuilding and repair. ( e ) Landlord ' s Options to Terminate : ( 1 ) Notwithstanding anything herein to the contrary , in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Building requires that the insurance proceeds be applied to such indebtedness , then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen ( 3045 ) days after such requirement is made by any such holder , whereupon all rights and obligations hereunder thereafter accruing shall cease and terminate . Page 10 - THE EUROPA CENTER Lease / 3 Land ord Tenant Initials Initials