Orange County NC Website
15 <br /> condemnor,and Rent shall be adjusted between Landlord and Tenant as of such date. If only a portion of <br /> the Demised Premises are taken and Tenant can continue use of the remainder, then this Lease will not <br /> terminate, but Rent shall abate in a just and proportionate amount to the loss of use occasioned by the <br /> taking. Tenant shall have no right or claim to any part of the award made to or received by Landlord for <br /> any taking; provided, however, that Tenant shall not be prevented from making a claim against the <br /> condemning party(but not against Landlord)for any moving expenses,loss of profits, or taking of Tenant <br /> Property (other than its leasehold estate) to which Tenant may be entitled provided such claim does not <br /> reduce the award otherwise payable or due Landlord. <br /> 17. Quiet Enioyment. If Tenant promptly and punctually complies with each of its obligations <br /> hereunder, it shall, subject to the terms of this Lease, peacefully have and enjoy the possession of the <br /> Demised Premises during the term hereof, provided that no action of Landlord, which does not impair <br /> Tenant's normal business, in working in other space in the Building, or in repairing or restoring the <br /> Demised Premises, shall be deemed a breach of this covenant, giving Tenant any right to modify this <br /> Lease either as to term,Rent payable, or other obligations to be performed. <br /> 18. Security Deposit. Landlord hereby acknowledges receipt from Tenant the sum set forth in <br /> paragraph 1(q)hereof,which sum Landlord shall retain as security for the performance by Tenant of each <br /> of its obligations hereunder. If Tenant fails at any time to perform its obligations, Landlord may at its <br /> option apply said deposit, or so much thereof as is required, to cure Tenant's default, but if prior to the <br /> termination of this Lease, Landlord depletes said deposit in whole or in part, Tenant shall immediately <br /> restore the amount so used by Landlord. This deposit shall not bear interest for the benefit of Tenant and <br /> unless Landlord uses the same to cure a default of Tenant, or to restore the Demised Premises to the <br /> condition that Tenant is required to leave them at the conclusion of the Term. If Tenant shall not be in <br /> default hereunder, Landlord shall within 30 days of the termination or expiration of this Lease refund to <br /> Tenant so much of the deposit as it continues to hold. <br /> 19. Notices. Any notice which Landlord or Tenant is required or desires to give to the other shall be <br /> deemed sufficiently given or rendered if in writing, either personally via hand delivery or sent by United <br /> States Postal System certified mail,postage or fees prepaid; or sent by recognized overnight courier(such <br /> as Fed Ex or UPS) for next business day delivery to the notice addresses set forth in article 1 or to such <br /> other notice address as such party shall render to the other at least 10 days prior. All such notices or <br /> communications shall be deemed delivered, given,and received upon actual receipt(by personal delivery) <br /> or when the return receipt or receipt therefor is signed, or refusal to accept the mailing by the addressee as <br /> noted thereon by the postal authority or recognized overnight courier, not in any event to exceed 3 <br /> business days from the date when the notice was deposited for delivery regardless of the refusal to accept <br /> delivery or inability to deliver due to the recipient having failed to keep the sender informed of the <br /> recipient's current address. Any notice required to be given to a Mortgagee hereunder shall only be <br /> required to be given by Tenant to the extent that Tenant itself has received actual notice of the address of <br /> Mortgagee. Notwithstanding anything herein to the contrary,notices may be given on behalf of any party <br /> by such party's legal counsel, and if such notice is to be received at 2 or more addresses as set forth <br /> above, then the receipt or deemed receipt by any one addressee shall be deemed effective notice to such <br /> party for all purposes of this article. <br /> 20. Surrender, Holdine Over. Tenant will vacate and deliver up the Demised Premises and all <br /> improvements, additions and alterations thereto(except Tenant Property installed by Tenant at its expense <br /> which are permitted to be removed by Tenant) at the expiration or sooner termination of this Lease, in a <br /> good, clean and rentable condition as the same were at the beginning of Tenant's occupancy, excepting <br /> ordinary wear and tear. <br /> OCACLease Page 13 <br />