Orange County NC Website
14 <br /> previously paid Tenant costs,the unamortized portion of any up-fit costs paid on account of this Lease by <br /> Landlord, the unamortized portion of any brokerage fees for the unexpired Lease Term, and any other <br /> damages and costs suffered by Landlord except as expressly provided; third, to the payment of the Rent <br /> due and unpaid; and the residue, if any, shall be held by Landlord and applied in payment of future Rent <br /> as the same may be due and payable. Should rentals received from re-letting during any month and <br /> applied to the Rent be less than the Rent reserved hereunder, then Tenant shall immediately pay any <br /> deficiency to Landlord. Deficiencies shall be calculated and paid monthly. Should rentals received from <br /> re-letting during any month and applied to the Rent be greater than the Rent reserved hereunder,the entire <br /> amount shall belong to Landlord free of any claim of Tenant thereto.No re-entry on or taking possession <br /> of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless <br /> 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 Lease <br /> for any Event of Default, in addition to any other remedy it may have,Landlord may recover from Tenant <br /> all damages it may incur by reason of any Event of Default. Landlord's recovery shall include the cost of <br /> recovering the Demised Premises, legal fees, and any and all past-due amounts 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 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 payable <br /> 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 /> 15. 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 /> Property which it has placed in the Demised Premises provided Tenant repairs all damages caused by <br /> such removal. If Tenant does not remove Tenant Property from the Demised Premises within 5 days after <br /> expiration or termination (for whatever cause) of this Lease, such property (other than that containing <br /> radioactive, biologically active or other hazardous substances or materials) shall be deemed conclusively <br /> abandoned by Tenant, and Landlord may dispose of the same in whatever manner Landlord may elect. <br /> 16. Eminent Domain. If all of the Demised Premises, or such part thereof as will make the same <br /> unusable for the purposes contemplated by this Lease, be taken under the power of eminent domain(or a <br /> conveyance in lieu thereof), then this Lease shall terminate as of the date possession is taken by the <br /> OCACLease Page 12 <br />