Orange County NC Website
Browse       Search
16 <br /> If Tenant shall hold over after the expiration or termination of this Lease, such holding over shall <br /> not be deemed to be a renewal of this Lease, but shall be deemed to create a tenancy-at-sufferance and by <br /> such holding over, Tenant shall be deemed to have agreed to be bound by all of the terms and conditions <br /> of this Lease except those as to the term hereof and except that during such tenancy-at-sufferance, Tenant <br /> shall pay to Landlord Rent at the rate equal to 150% of that otherwise provided for in this Lease. The <br /> increased Rent during such holding over is intended to partially compensate Landlord for losses, damages <br /> and expenses, including frustrating and delaying Landlord's ability to secure a replacement tenant. In <br /> addition, Tenant expressly agrees to hold Landlord harmless from any and all loss and damages, direct <br /> and consequential,which Landlord may suffer in defense of claims by parties against Landlord arising out <br /> of the holding over by Tenant, including,without limitation,reasonable attorneys' fees in connection with <br /> Landlord's defense of such claims. Acceptance of all or any portion of Rent by Landlord subsequent to <br /> the Expiration Date or the termination of this Lease shall not constitute Landlord's consent to a wrongful <br /> holding over. Landlord shall have the right to apply all payments received after the Expiration Date <br /> toward payment for use and occupancy of the Demised Premises subsequent to the Expiration Date and <br /> toward any other sums owed by Tenant to Landlord. Landlord, at its option, may forthwith re-enter and <br /> take possession of the Demised Premises without process or by any legal process or force. <br /> 21. Right to Relocate. Landlord, at its option, may substitute for the Demised Premises other space <br /> (hereafter called"Substitute Premises")within the Building at any time during the term or any extension <br /> of this Lease. The Substitute Premises shall have a comparable square foot area and a configuration <br /> substantially similar to the Demised Premises. Landlord shall give Tenant at least 90 days' written notice <br /> of its intention to relocate Tenant to the Substitute Premises,which notice will be accompanied by a floor <br /> plan of the Substitute Premises. Tenant shall have the right to consent to the floor plan for the Substitute <br /> Premises, which consent shall not be unreasonably withheld, delayed or conditioned. Landlord agrees to <br /> construct or alter, at its own expense, the Substitute Premises as expeditiously as possible so that the <br /> Substitute Premises are in substantially the same condition that the Demised Premises were in <br /> immediately prior to the relocation.Landlord shall have the right to reuse the fixtures, improvements,and <br /> alterations used in the Demised Premises. Tenant agrees to occupy the Substitute Premises as soon as <br /> Landlord's work is substantially completed, and a certificate of occupancy is issued therefor. Landlord <br /> shall pay Tenant's reasonable costs of moving Tenant Property to the Substitute Premises. Except as <br /> provided herein, Tenant agrees that all of the obligations of this Lease, including the payment of Rent, <br /> shall continue despite Tenant's relocation to the Substitute Premises. Upon substantial completion of the <br /> Substitute Premises, this Lease shall apply to the Substitute Premises as if the Substitute Premises had <br /> been the space originally described in this Lease. Landlord shall use all reasonable efforts to minimize <br /> any period when the Demised Premises shall be closed to the public as a result of relocation. Tenant's <br /> Rent shall abate from the date the Demised Premises are closed until the date the Substitute Premises are <br /> available to be open for business. Except as provided above, Landlord shall not be liable nor responsible <br /> in any way for damages or injuries suffered by Tenant pursuant to the relocation in accordance with this <br /> article 22,including,but not limited to, loss of goodwill,business, and profits. <br /> 22. Brokers' Commissions. Tenant represents and warrants that it has not had dealings with any <br /> real estate broker, finder or other person, with respect to this Lease in any manner except as set forth in <br /> section 1(r)hereof. Landlord's total liability for brokerage commissions in connection with the execution <br /> of this Lease is limited to and calculated pursuant to the agreement between Landlord and Landlord's <br /> broker set forth in section 1(r)hereof. Tenant shall indemnify and hold Landlord harmless from any and <br /> all damages resulting from any claims that may be asserted against Landlord by any other broker, finder <br /> or other person(including,without limitation, any substitute or replacement broker claiming to have been <br /> engaged by Tenant), claiming to have dealt with Tenant in connection with the negotiation and/or <br /> execution of this Lease. The provisions of this paragraph shall survive the termination or expiration of <br /> this Lease. <br /> OCAC Lease Page 14 <br />