Orange County NC Website
16 <br /> such entry, reletting and collection and the costs of any necessary repairs made by Landlord which Tenant is <br /> obligated to make hereunder, apply the remainder of the rent collected to the amounts due and to become <br /> due from Tenant hereunder; <br /> (iii) Pursue any other remedy now or hereafter available to Landlord under this Lease or <br /> under the laws of the state of North Carolina. <br /> All rights and remedies of Landlord pursuant to this Section shall be cumulative, and may be exercised <br /> singly, successively or, if appropriate, concurrently. In the event Landlord terminates this Lease or <br /> terminates Tenant's right to possession of the Leased Premises,then Tenant shall surrender possession of <br /> the Premises to Landlord, and Landlord shall have the full and free right to enter into and upon the Rented <br /> Space with or without process of law, to repossess the Rented Space, to expel or remove the Tenant and <br /> any others who may be occupying or be within the Rented Space, to remove any and all property from the <br /> Rented Space and to the change the locks on the Rented Space,without being deemed in any manner guilty <br /> of trespass, eviction or forcible entry or detainer. In any event of default by Tenant, Landlord shall be entitled <br /> to recover from Tenant all damage incurred by Landlord by reason of Tenant's default, including but not <br /> limited to: any unpaid rent; the cost of recovering possession of the Premises, including reasonable <br /> attorney's fees; expenses of reletting, including necessary renovation and alteration of the Premises, <br /> reasonable attorney's fees, and any real estate commission actually paid; any loss of future rental that would <br /> have been due during the then current Term, provided that such amount shall be offset by the fair market <br /> rental value of the Premises for such remaining period of the current Term; and a pro rata portion of any <br /> leasing commission paid by Landlord based on the number of days of any period for which a commission <br /> was paid that remain after the date of Tenant's default. Any rent unpaid when due, including additional rent <br /> not paid upon demand, shall bear interest from the date due at the rate of twelve percent (12.00%) per <br /> annum. <br /> (c) Treatment of Tenant's Property. Any and all property which may be removed from the Rented <br /> Space by the Landlord pursuant to the authority of the Lease or law, to which the Tenant is or may be <br /> entitled, may be handled, removed or stored by the Landlord at the risk, cost and expense of the Tenant, and <br /> except strictly as required by law the Landlord shall in no event be responsible for the value, preservation or <br /> safekeeping thereof. The Tenant shall pay to the Landlord, upon demand, any and all expenses incurred in <br /> such removal and all storage charges for such property so long as the property shall be in the Landlord's <br /> possession or under the Landlord's control. Any such property of the Tenant not retaken from storage by the <br /> Tenant within thirty(30)days after the end of the term, however terminated, may be disposed of by Landlord <br /> in any manner whatsoever, including without limitation, the sale, scrapping or destruction of the property <br /> without any further obligation to the Tenant, and Tenant shall pay to Landlord promptly on demand the <br /> reasonable expenses of such disposal. <br /> (d) Landlord's Lien on Tenant's Property. Tenant hereby grants to Landlord a lien for the payment of <br /> rent, additional rent and all other monies to be paid by Tenant to Landlord under this Lease, upon all of the <br /> goods, wares, chattels, fixtures, furniture, equipment and other property of Tenant which may be in or upon <br /> the Rented Space or the Property. Such lien may be enforced in any lawful manner by the Landlord. <br /> Notwithstanding the foregoing, Landlord acknowledges that Tenant may seek financing from a third-party, <br /> institutional lender which may require a first priority lien on such goods, wares, chattels, fixtures, furniture, <br /> equipment and other property, and in such circumstance, Landlord agrees to enter into and provide a <br /> commercially reasonable subordination agreement subordinating Landlord's lien rights in and to such goods, <br /> wares, chattels, fixtures, furniture, equipment and other property to the lien rights of such lender. <br /> (e)Landlord's Option to Cure. If Tenant defaults in the performance of any of its obligations under this <br /> Lease, including without limitation, its obligations under Section 9 hereof,then Landlord or any mortgagee or <br /> ground lessee of Landlord may, at its option, cure such default, and Tenant shall pay to Landlord or such <br /> mortgagee or ground lessor, as the case may be, the cost of such cure immediately upon being billed for <br /> same. <br /> (f) No Waiver. The failure of Landlord to declare Tenant to be in default at any time or to exercise <br /> any of its rights or remedies upon default any by Tenant shall not be deemed to be a waiver by Landlord of <br /> any of its rights or remedies hereunder. <br /> (g) Incentive Agreement. Landlord shall be entitled to any rights and remedies provided for in the <br /> Incentive Agreement for an event of default under this Lease. However, in the event of a default under the <br /> Incentive Agreement, in the absence of an event of default under this Lease, Landlord's rights and remedies <br /> shall be limited to those provided in the Incentive Agreement. <br /> Notwithstanding anything to the contrary contained herein, in no event shall Tenant be liable for <br /> consequential, punitive, or special damages. <br /> Landlord Tenant <br /> Initials Initials <br />