Orange County NC Website
portion of the Demised Premises for any term or terms and at any rental or rentals and upon any other <br /> terms and conditions as Landlord, in its sole discretion, may deem advisable , with the right to make <br /> alterations and repairs to the Demised Premises . In the event of any reletting, rentals received by <br /> Landlord from reletting shall be applied : first, to the payment of any indebtedness , other than Rent, due <br /> from Tenant to Landlord ; second, to the payment of all expenses of Landlord in repairing, restoring or <br /> altering the Demised Premises for reletting, together with leasing fees and all other expenses in seeking <br /> and obtaining a new tenant, the unamortized portion of Landlord' s paid allowance for Tenant up-fit and <br /> other previously paid Tenant costs, the unamortized portion of any up- fit costs paid on account of this <br /> Lease by Landlord, the unamortized portion of any brokerage fees for the unexpired Lease Term , and <br /> any other damages and costs suffered by Landlord except as expressly provided; third, to the payment <br /> of the Rent due and unpaid ; and the residue, if any, shall be held by Landlord and applied in payment of <br /> future Rent as the same may be due and payable . Should rentals received from reletting during any <br /> month and applied to the Rent be less than the Rent reserved hereunder, then Tenant shall immediately <br /> pay any deficiency to Landlord . Deficiencies shall be calculated and paid monthly . Should rentals <br /> received from reletting during any month and applied to the Rent be greater than the Rent reserved <br /> hereunder, the entire amount shall belong to Landlord free of any claim of Tenant thereto . No re- entry <br /> on or taking possession of the Premises by Landlord shall be construed as an election on its part to <br /> terminate this Lease unless either a written notice of this intention is given to Tenant . <br /> (d) Notwithstanding any re- letting without termination, Landlord may at any time elect to <br /> terminate this Lease for any previous Event of Default . Should Landlord at any time terminate this <br /> Lease for any Event of Default, in addition to any other remedy it may have, Landlord may recover <br /> from Tenant all damages it may incur by reason of any Event of Default . Landlord ' s recovery shall <br /> include the cost of recovering the Demised Premises , legal fees , and any and all past- due amounts <br /> owing under the Lease . <br /> (e) Upon failure by Tenant to pay the Rent, to make distress, and upon such distress, this <br /> tenancy, at the option of Landlord, shall terminate, and the Landlord shall have the rights set forth <br /> above . <br /> (f) Make such payment or do such act that Tenant has failed but is required to do under this <br /> Lease, and the expenses of Landlord thereof, shall constitute Additional Rent hereunder due and <br /> payable by Tenant within 10 days of demand therefor by Landlord . <br /> (g) Without obtaining any court authorization, lock up the Demised Premises and deny Tenant <br /> access thereto . <br /> Landlord ' s reasonable attorneys ' fees in pursuing any of the foregoing remedies , or in collecting <br /> any Rent due from Tenant hereunder, shall be paid by Tenant, which fees as to Rent collected shall be <br /> deemed to be 15 % of the amount of such Rent or other sum due from Tenant . <br /> All rights and remedies of Landlord are cumulative, and the exercise of anyone shall not be an <br /> election excluding Landlord at any other time from exercise of a different or inconsistent remedy . No <br /> waiver by Landlord of any covenant or condition shall be deemed to imply or constitute a further waiver <br /> of the same at a later time, and acceptance of Rent by Landlord even with knowledge of a default by <br /> Tenant shall not constitute a waiver of such default . An election by Landlord to terminate this Lease shall <br /> only be deemed to occur upon the express , written election by Landlord to do so . <br /> 16 . Property of Tenant. To the extent required by law Tenant shall timely pay any and all taxes <br /> levied or assessed against or upon Tenant ' s furnishings, equipment, trade fixtures , furniture, inventory, <br /> leasehold improvements and personal property located in the Demised Premises ( collectively, " Tenant <br /> Property") . Tenant (if not in default hereunder), prior to the Expiration Date , may remove all Tenant <br /> i <br /> OCAC Lease Page 12 I <br />