|
' `1 J I
<br />ASSIGNMENT AND SUBLETTING ~ ~ ~~ ~ ~ ~ 1C
<br />~./
<br />18, Tenant shall not, without the prior written consent of Landlord, which shall not Ue unreasonably withheld, assign this Lease or
<br />any interest hereunder, or suUlet the Premises or any part thereof, or permit the use of the Premises by any party other than the Tenant.
<br />Consent to any assignment or sublease shall not impair this provision and all later assignments or subleases shall be made likewise
<br />only on the prior written consent of Landlord. The Assignee of Tenant, at option of Landlord, shall become duectly liable to Landlord
<br />for all obligations of Tenant hereunder, but no sublease or assignment by Tenant shall relieve Tenant of any liability hereunder..
<br />EVENTS OF DEFAULT
<br />19. The happening of any one or more of the following events (hereinafter any one of which may be referred to as an "Event of
<br />Default") during the term of this Lease, or any renewal or extension thereof, shall constitute a breach of this Lease on the pazt of the
<br />Tenant: (a) Tenant fails to pay the rental as provided for herein; (b) Tenant abandons or vacates the Premises; (c) Tenant fails to
<br />comply with or abide by and perform any other obligation imposed upon Tenant under this Lease; (d) Tenant is adjudicated bankrupt;
<br />(e) A permanent receiver is appointed for Tenant's property and such receiver is not removed within sixty (60) days afer written
<br />notice from Landlord to Tenant to obtain such removal; (f) Tenant, either voluntarily or involuntarily, takes advantage of any debtor
<br />relief proceedings under any present or future law, whereby the rent or any part thereof is, or is proposed to be, reduced or payment
<br />thereof deferred; (g) Tenant makes an assignment for benefit of creditors; or (h) Tenant's effects are levied upon or attached under
<br />process against Tenant, which is not satisfied or dissolved within thirty (30) days after written notice from Landlord to Tenant to
<br />obtain satisfaction thereof.
<br />REMEDIES UPON DEFAULT
<br />20. Upon the occurrence of Event of Default, Landlord may pursue any one or more of the following remedies separately or
<br />concurrently, without prejudice to any other remedy herein provided or provided by law: (a) if the Event of Default involves
<br />nonpayment of rental and Tenant fails to cure such default within five (5) days after receipt of written notice thereof from Landlord, or
<br />if the Event of Default involves a default in performing any of the terms or provisions of this Lease other than the payment of rental
<br />and Tenant fails to cure such default within tifteen (15) days after receipt of written notice of default from Landlord, Landlord may
<br />terminate this Lease by giving written notice to Tenant and upon such termination shall be entitled to recover from Tenant damages as
<br />may be permitted under applicable law; or (b) if the Event of Default involves any matter other than those set forth in item (a) of this
<br />paragraph, Landlord may terminate this Lease by giving written notice to Tenant and, upon such termination, shall be entitled to
<br />recover from the Tenant damages in an amount equal to all rental which is due and all rental which would otherwise have become due
<br />throughout the remaining term of this Lease, or any renewal or extension thereof (as if this Lease had not been terminated); or (c)
<br />upon any Event of Default, Landlord, as Tenant's agent, without terminating this Lease, may enter upon and rent the Premises, in
<br />whole or in part, at the best price obtainable by reasonable effort, without advertisement and by private negotiations and for any term
<br />Landlord deems proper, with Tenant being liable to Landlord for the deficiency, if any, between Tenant's rent hereunder and the price
<br />obtained by Landlord on reletting, provided however, that Landlord shall not be considered to be under any duty by reason of this
<br />provision to take any action to mitigate damages by reason of Tenant's default.. In the event Landlord hires an attorney to enforce its
<br />rights upon default, Tenant shall in addition be liable for reasonable attorney's fees and all costs of collection.
<br />EXTERIOR SIGNS
<br />21. Tenant shall place no signs upon the outside walls or roof of the Premises, except with the express written consent of the
<br />Landlord. Any and all signs placed on the Premises by Tenant shall be maintained in compliance with governmental rules and
<br />regulations governing such signs and Tenant shall be responsible to Landlord for any damage caused by installation, use or
<br />maintenance of said signs, and all damage incident to removal thereof.
<br />LANDLORD'S ENTRY OF PREMISES
<br />22. Landlord may advertise the Premises "For Rent" or "For Sale" 180 days before the termination of this Lease,
<br />Landlord may enter the Premises at reasonable hours to exhibit same to prospective purchasers or tenants and to make repairs required
<br />of Landlord under the terms hereof or to make repairs to Landlord's adjoining property, if any,
<br />EFFECT OF TERMINATION OF LEASE
<br />23. No termination of this Lease prior to the normal ending thereof; by lapse of time or otherwise, shall affect Landlord's right to
<br />collect rent for the period prior to termination thereof:
<br />MORTGAGEE'S RIGHTS
<br />24. Tenant's rights shall be subject to any bona fide mortgage, deed of trust or other security interest which is now or may hereafter
<br />be placed upon the Premises by Landlord.. Tenant shall, if requested by Landlord, execute a separate agreement reflecting such
<br />subordination, and shall be obligated to execute such documentation as may facilitate Landlord's sale or refinancing of the Premises,
<br />including, but not limited to, estoppel certificates, subordination or attornment agreements,.
<br />Page 5 of 8
<br />STANDARD FORM 590-T
<br />© 7/2002
<br />Tenant Initials Landlord Initials
<br />This form produced 6y F01777[//Bto% °Forrns 6ollwate 860-336-1027
<br />
|