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17 <br /> 15. HOLDING OVER. In the event the Tenant remains in possession of the Rented Space after the <br /> expiration of the Term without the written consent of Landlord (unless Tenant has properly exercised the <br /> option to purchase the Leased Premises), then the Tenant shall be a tenant at sufferance from month to <br /> month only, and the Tenant shall then be obligated to pay one hundred fifty percent (150%) of the then <br /> current Base Rent and all other sums then payable hereunder("Holding Over Rent"), in equal installments on <br /> the first day of each calendar month for so long as Landlord is kept out of possession of the Rented Space. <br /> Neither such payment nor the acceptance of such payment shall in any way constitute a waiver of the rights <br /> of Landlord to dispossess the Tenant and recover possession of the Rented Space and the just and former <br /> estate of the Landlord and to bring any action for damages suffered by Landlord on account of Tenant's <br /> failure to vacate the Rented Space. <br /> 16. SURRENDER OF RENTED SPACE. Upon the expiration or other termination of the Term, Tenant <br /> shall quit and surrender to Landlord the Rented Space, broom clean, in good order and condition, ordinary <br /> wear excepted, and Tenant shall remove all of its property except as otherwise provided in Section 10. <br /> 17. DAMAGE TO RENTED SPACE OR BUILDING. <br /> (a) Tenant's Insurance. Tenant shall maintain standard fire and extended coverage insurance <br /> covering the Building in an amount not less than 80% (or such greater percentage as may be necessary to <br /> comply with the provisions of any co-insurance clauses of the policy) of the "replacement cost" thereof as <br /> such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against special <br /> causes of loss(including the perils of fire and lighting), such coverages and endorsements to be as defined, <br /> provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the <br /> State of North Carolina. Subject to the provisions of Section 19 below, such insurance shall also be for the <br /> benefit of Landlord. <br /> (b) Notice by Tenant. If the Rented Space is damaged or destroyed by any peril covered by the <br /> insurance to be provided by subparagraph (a) above, Tenant shall give immediate written notice thereof to <br /> Landlord. <br /> (c) Extensive Damage. If the Rented Space is so damaged by any peril covered by the insurance to <br /> be provided under subparagraph (a) above that rebuilding or repairs cannot in the estimation of a licensed <br /> North Carolina General Contractor selected by Landlord, be completed within one hundred fifty (150)days <br /> after the date of such damage, Tenant may elect, in its sole discretion, to terminate this Lease, and the rent <br /> shall be abated during the unexpired portion of this Lease, effective upon the date of the occurrence of such <br /> damage. <br /> (d) Repairable Damage. If the Rented Space is damaged by any peril covered by the insurance to <br /> be provided under subparagraph (a) above, but only to such extent that rebuilding or repairs can, in the <br /> estimation of a licensed North Carolina General Contractor selected by Landlord, be completed within one <br /> hundred fifty(150) days after the date of such casualty, this Lease shall not terminate, and Tenant shall, at <br /> its sole cost and expense, thereupon proceed with reasonable diligence to rebuild and repair the Rented <br /> Space to substantially the condition in which it existed prior to such damage. There shall be no abatement of <br /> rent during any such period of rebuilding and repair. <br /> (e) Landlord's Option to Terminate. Notwithstanding any other provision herein, if any portion of the <br /> Rented Space is materially damaged or destroyed during the final Lease Year of the initial term or any <br /> extension term of this Lease,then Landlord shall have the option to terminate this Lease upon written notice <br /> to Tenant delivered within forty-five (45) days of the date of such damage. <br /> 18. TENANT'S INDEMNITY OF LANDLORD AND TENANT'S INSURANCE. <br /> (a) Tenant's Indemnity of Landlord. To the extent authorized by North Carolina law, Tenant shall <br /> indemnify and save the Landlord and its agents, officers, and employees harmless against any and all <br /> claims, demands, costs, and expenses, including reasonable attorney's fees for the defense thereof, arising <br /> directly or indirectly out of or in connection with Tenant's occupancy at the Property or from any breach or <br /> default on the part of Tenant in the performance of any covenant or agreement on the part of Tenant to be <br /> performed pursuant to the terms of this Lease, or from any act or negligence of Tenant, its agents, servants, <br /> employees or invitees, in or about the Property. <br /> (b) Tenant's Commercial General Liability Insurance. Tenant shall at all times during the Term,at its <br /> sole cost and expense, procure and maintain in force and effect a policy or policies of commercial general <br /> liability insurance issued by a company or companies from time to time approved by Landlord, which <br /> companies must be authorized to transact business in North Carolina. Such policy or policies shall insure <br /> against loss, damage or liability for injury to or death of persons and loss or damage to property occurring <br /> Landlord Tenant <br /> Initials Initials <br />