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12 <br /> <br />sufferance during such holding over on a month to month basis. But in such event, the <br />Tenant shall be subject to all the conditions, provisions and obligations of this lease insofar <br />as the same shall then be applicable. <br /> <br />16. SUBORDINATION This lease and all leasehold rights hereunder shall be, become and remain <br />subordinate to the lien of any bona fide mortgage or deed of trust now or hereafter <br />imposed upon all or any part of the Demised Premises; and the Tenant shall execute and <br />deliver to Landlord or its lender upon request any estoppel letters or acknowledgments as <br />to the status of the Lease and non-default thereunder (or, to the extent any default exists, <br />the nature thereof) or any instruments reasonably requested by the Landlord consenting to <br />the full subordination of this lease to any such mortgage or deed of trust upon the condition <br />that Tenant's rights hereunder shall not be disturbed by any foreclosure or otherwise so <br />long as Tenant is not in default hereunder. Tenant shall also provide to Landlord or any <br />lender of Landlord, upon request and from time to time, current financial statements of <br />Tenant, which statements shall be held in confidence by such requesting parties. <br /> <br />17. DEFAULT <br />17.1. EVENTS OF DEFAULT If Tenant (a) fails to pay any rental or other payment <br />hereunder as it comes due; or (b) fails to perform any other of the terms of this lease to <br />be observed or performed by Tenant; or (c) shall become bankrupt or insolvent or <br />there is an appointment of a receiver or trustee of all or a substantial portion of <br />Tenant's property, or if Tenant makes an assignment for the benefit of creditors, or <br />petitions for or enters into such an agreement; or (d) if this lease shall pass to or <br />devolve upon (by law or otherwise) one other than Tenant except as herein provided - <br />then, in any one or more of such events, upon Landlord serving a written Notice upon <br />Tenant specifying the nature of such default and the period allowed to cure the default, <br />if Tenant shall have failed to comply with or remedy such default within such period, <br />then this lease and other term thereunder shall (at the option of Landlord) terminate <br />and come to an end on the date specified in such Notice. Tenant shall thereupon quit <br />and surrender the Demised Premises to the Landlord as if the term hereunder ended by <br />the expiration of the time originally fixed herein, but Tenant shall remain liable as <br />hereinafter provided. <br /> <br />17.2. LATE CHARGES Tenant hereby acknowledges that late payment by Tenant <br />to Landlord of Base Rent or other sums due hereunder will cause Landlord to incur <br />costs not contemplated by this Lease, the exact amount of which will be extremely <br />difficult to ascertain. Such costs include, but are not limited to, processing and <br />accounting charges, and late charges which may be imposed on Landlord by the terms <br />of any mortgage or trust deed covering the premises. Accordingly, if any installment of <br />Base Rent or any other sum due from Tenant shall not be received by Landlord or <br />Landlord’s designee after such amount shall be due, then, without any requirement for <br />notice to Tenant, Tenant shall pay to Landlord a late charge equal to 6% of such <br />overdue amount. The parties hereby agree that such late charge represents a fair and <br />reasonable estimate of the costs Landlord will incur by reason of late payment by <br />Docusign Envelope ID: 1D68F173-6B6F-4424-9E87-2885D9C25A5C