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2021-315 Arts Commission-Eno River Mill-Annual Rent
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2021-315 Arts Commission-Eno River Mill-Annual Rent
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Last modified
6/22/2021 9:13:30 AM
Creation date
6/17/2021 3:14:21 PM
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Contract
Date
5/18/2021
Contract Starting Date
5/18/2021
Contract Ending Date
5/19/2021
Contract Document Type
Contract
Amount
$72,000.00
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i <br /> r <br /> reasonable times (1) to examine the same, (ii) 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 /> 15 . 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 /> ) becomes insolvent, makes any transfer in fraud of creditors, <br /> actions), either in state or federal court; ( iv <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 /> Upon the occurrence of an Event of Default, Landlord shall, without any further notice or <br /> demand, in addition to , and not in limitation of, any other remedy permitted by North Carolina law or this <br /> Lease, have the option to do any one or more of the following : <br /> (a) Terminate this Lease, in which event Tenant shall immediately surrender the Demised <br /> Premises to Landlord in good condition and repair, reasonable wear and tear excepted . Should Tenant <br /> fail to so surrender the Demised Premises , Landlord may, without prejudice to any other remedy <br /> available, but pursuant to any required legal process, re- enter and take possession of the Demised <br /> Premises with or without prior notice and remove Tenant or anyone occupying the Demised Premises <br /> and all property of such occupants from the Demised Premises , which property may be removed and <br /> ilding in which the Demised Premises are situated, or in any other <br /> stored in any other place in the Bu <br /> place , for the account of, at the expense and risk of Tenant . Tenant waives all claims for damages which k <br /> may be caused by Landlord ' s re- entry and taking possession of the Demised Premises or removing or <br /> storing the occupant ' s furniture and property . Tenant shall save Landlord harmless from any loss , fees , <br /> costs or damages and expenses (including reasonable attorneys ' fees) suffered by Landlord because of <br /> any termination and re- entry . No re- entry shall be considered or construed to be an illegal forcible <br /> entry . <br /> (b) Without terminating this Lease, declare the entire amount of all Rent which would have <br /> become due and payable during the remainder of this Term to be due and payable immediately <br /> discounted by the prime rate of interest as reported in the Wall Street Journal on the date of the <br /> declaration of the acceleration of Rent, in which event Tenant agrees to pay the same to Landlord <br /> immediately . This payment shall constitute payment in advance of the Rent stipulated for the remainder <br /> Y pY pY <br /> of the Term . Acceptance by Landlord of the payment of this Rent shall not constitute a cure or waiver <br /> for non- a ment of <br /> n subsequent default other than an existing defaultp y <br /> of any then- existing default or any q g <br /> Rent . <br /> (c) Enter upon and take possession of the Demised Premises , without terminating this Lease <br /> and without being liable to prosecution or any claims for damages . Landlord may then relet all or any <br /> OCAC Lease Page 11 <br />
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