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 />
|