2020-091 County Mgr - Eno River Mill LLC artist space lease

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shall have the right of ingress and egress to the Common Areas , provided Landlord by reasonable regulation may control such access for the comfort, convenience and protection of all tenants and users of the Building . 14 . Default. If Tenant ( 1) fails to pay any Rent or installment thereof as provided in this Lease when due and such failure continues for 5 days after written notice from Landlord ; provided however, Tenant shall not be entitled to more than 2 notices of a failure to pay in any 12 month period, and thereafter, Tenant shall be in default if Tenant fails to pay any Rent or installment thereof as provided in this Lease within 5 days of the due date thereof; (ii) breaches any other agreement or obligation herein set forth and such breach is not cured within 15 days of written notice from Landlord; (iii) files (or has filed against it) any petition or action for relief under any creditor' s law ( including bankruptcy , reorganization, or similar actions) , either in state or federal courts (iv) becomes insolvent, makes any transfer in fraud of creditors, has a receiver appointed for its assets , or makes an assignment for benefit of creditors ; (v) fails to timely deliver the estoppel certificate described in article 12 hereof; or (vi) vacates , abandons or ceases to conduct business at the Demised Premises , then in any event, Tenant shall be in default hereunder and subject to an Event of Default . Upon the occurrence of an Event of Default, Landlord shall, without any further notice or demand, in addition to , and not in limitation of, any other remedy permitted by North Carolina law or this Lease , have the option to do any one or more of the following : (a) Terminate this Lease, in which event Tenant shall immediately surrender the Demised Premises to Landlord in good condition and repair, reasonable wear and tear excepted . Should Tenant fail to so surrender the Demised Premises , Landlord may, without prejudice to any other remedy available, but pursuant to any required legal process , re- enter and take possession of the Demised Premises with or without prior notice and remove Tenant or anyone occupying the Demised Premises and all property of such occupants from the Demised Premises , which property may be removed and stored in any other place in the Building in which the Demised Premises are situated, or in any other place, for the account of, at the expense and risk of Tenant. Tenant waives all claims for damages which may be caused by Landlord ' s re- entry and taking possession of the Demised Premises or removing or storing the occupant ' s furniture and property . Tenant shall save Landlord harmless from any loss , fees , costs or damages and expenses (including . reasonable attorneys ' fees) suffered by Landlord because of any termination and re- entry . No re- entry shall be considered or construed to be an illegal forcible entry . (b) Without terminating this Lease, declare the entire amount of all Rent which would have become due and payable during the remainder of this Term to be due and payable immediately discounted by the prime rate of interest as reported in the Wall Street Journal on the date of the declaration of the acceleration of Rent, in which event Tenant agrees to pay the same to Landlord immediately . This payment shall constitute payment in advance of the Rent stipulated for the remainder of the Term . Acceptance by Landlord of the payment of this Rent shall not constitute a cure or waiver of any then- existing default or any subsequent default other than an existing default for non-payment of Rent . (c) Enter upon and take possession of the Demised Premises , without terminating this Lease and without being liable to prosecution or any claims for damages . Landlord may then relet all or any portion of the Demised Premises for any term or terms and at any rental or rentals and upon any other terms and conditions as Landlord, in its sole discretion, may deem advisable, with the right to make alterations and repairs to the Demised Premises . In the event of any reletting, rentals received by Landlord from reletting shall be applied : first, to the payment of any indebtedness, other than Rent, due from Tenant to Landlord ; second, to the payment of all expenses of Landlord in repairing, restoring or altering the Demised Premises for reletting, together with leasing fees and all other expenses in seeking and obtaining a new tenant, the unamortized portion of Landlord' s paid allowance for Tenant up -fit and other OCAC Lease Page 11