Orange County NC Website
If in connection with financing by Landlord of the Property , Mortgagee shall request Tenant to <br /> execute reasonable modifications of this Lease as a condition to such financing, Tenant will not <br /> unreasonably withhold, delay or defer its consent thereto , provided that such modifications do not <br /> increase the monetary obligations of Tenant hereunder, extend or reduce the term of this Lease, or <br /> adversely affect to any substantial extent the leasehold interest hereby created . Subject to the foregoing, <br /> Tenant agrees, not later than 20 days after demand, and without cost, to execute such instruments that <br /> may be required by Landlord ' s Mortgagee or lender . <br /> Tenant agrees to give any Mortgagee which has provided Tenant with an address pursuant to <br /> article 20 hereof notice of and a reasonable opportunity (which in no event shall be less than 30 days after <br /> written notice thereof as delivered to such Mortgagee as provided herein) to cure any Landlord default <br /> hereunder; and Tenant agrees to accept such cure effected by such Mortgagee . No termination of this <br /> Lease by Tenant shall be effective until such notice has been given and the cure period has expired <br /> without the default by Landlord having been cured . Further, Tenant agrees to permit such Mortgagee, <br /> lender or other purchaser at any foreclosure sale, and their respective successors and assigns , on acquiring <br /> Landlord ' s interest in the Demised Premises and the Lease, to become substitute landlord hereunder, with <br /> liability only for such landlord obligations as accrue after Landlord' s interest is so acquired . Tenant <br /> agrees to attorn to any successor landlord in accordance with the provisions hereof. <br /> 12 . Signs . Tenant may not erect, install or display any sign or advertising material upon the Property, <br /> Building exterior, Demised Premises, or the walls thereof, or in any window therein, without the prior <br /> written consent of the Landlord . Landlord shall furnish, install and maintain a building directory at a <br /> convenient location in the lobby listing the name of Tenant and the room number of Tenant ' s entrance <br /> office . At such entrance area Tenant may install a directory of the occupants/sublessees . Landlord must <br /> approve of any sign before it is installed and will not unreasonably delay approval . <br /> 13 . Access to Premises . Landlord shall have the right, either itself or through its authorized agents , <br /> to enter the Demised Premises during regular business hours or, upon reasonable advance notice, at all <br /> reasonable times (1) to examine the same, ( 11) to show it to prospective tenants for other spaces in the <br /> Building, (iii) to show it to prospective tenants for the Demised Premises if within 180 days of the <br /> Expiration Date (no option to extend having been exercised or available) , (iv) to allow inspection by <br /> Mortgagees , (v) to show it to prospective purchasers of the Building ; and (vi) to make such repairs , <br /> alterations or changes as Landlord deems necessary . Tenant, its agents , employees , invitees , and guests, <br /> shall have the right of ingress and egress to the Common Areas, provided Landlord by reasonable <br /> regulation may control such access for the comfort, convenience and protection of all tenants and users of <br /> the Building . <br /> 14 . Default. If Tenant ( 1) fails to pay any Rent or installment thereof as provided in this Lease when <br /> due and such failure continues for 5 days after written notice from Landlord ; provided however, Tenant <br /> shall not be entitled to more than 2 notices of a failure to pay in any 12 month period, and thereafter, <br /> Tenant shall be in default if Tenant fails to pay any Rent or installment thereof as provided in this Lease <br /> within 5 days of the due date thereof; (ii) breaches any other agreement or obligation herein set forth and <br /> such breach is not cured within 15 days of written notice from Landlord; ( ill) files (or has filed against it <br /> any petition or action for relief under any creditor' s law (including bankruptcy, reorganization, or similar <br /> actions) , either in state or federal court, (iv) becomes insolvent, makes any transfer in fraud of creditors, <br /> has a receiver appointed for its assets , or makes an assignment for benefit of creditors ; (v) fails to timely <br /> deliver the estoppel certificate described in article 12 hereof; or (vi) vacates , abandons or ceases to <br /> conduct business at the Demised Premises , then in any event, Tenant shall be in default hereunder and <br /> subject to an Event of Default . <br /> OCAC Lease Page 10 <br />