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2025-460-E-Housing Dept-Chapel Hill Foundation Real Estate Holdings-Lease Agreement
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2025-460-E-Housing Dept-Chapel Hill Foundation Real Estate Holdings-Lease Agreement
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7/31/2025 2:28:31 PM
Creation date
7/31/2025 2:28:20 PM
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Contract
Date
7/29/2025
Contract Starting Date
7/29/2025
Contract Ending Date
7/29/2025
Contract Document Type
Contract
Amount
$1.00
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14 <br /> <br />month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such <br />deficiency shall be calculated and paid monthly; or, Landlord may elect to accelerate <br />the balance due hereunder for the remainder of the then existing term, credit the <br />amount due under any then existing lease as a result of reletting the premises, and <br />recover the difference. Landlord may also recover from Tenant all damages it may <br />incur by reason of Tenant's default, including the cost of recovering the leased <br />premises, reasonable attorney's fees, and including the worth at the time of such <br />termination of the excess, if any, of the amount of rent and charges equivalent to rent <br />reserved in this lease for the remainder of the stated term over the then reasonable <br />rental value of the Demised Premises for the remainder of the stated term, all of which <br />amount shall be immediately due and payable from Tenant to Landlord. For the <br />purposes of this Article, percentage rent for any period after default and re-entry by <br />Landlord shall be computed on the basis of the amount thereof accruing during the <br />next preceding lease year or during the next preceding twelve (12) months, whichever <br />is the greater, except that if such event shall occur during the first lease year, then on <br />the basis of the amount of percentage rent accruing for the then elapsed portion of the <br />term of this lease. <br /> <br />17.6. INJUNCTION In the event of a breach or threatened breach by Tenant of any <br />provision of this lease, Landlord shall have the right of injunction as if other remedies <br />were not provided for therein. <br /> <br />17.7. NON-EXCLUSIVE REMEDIES The rights and remedies given to Landlord in this <br />lease are distinct, separate and cumulative remedies, and the exercise of any of them <br />shall not be deemed to exclude Landlord's right to exercise any or all of the others or <br />those which may be permitted by law. <br /> <br />17.8. BREACH BY LANDLORD Landlord shall in no event be in default in the <br />performance of any of its obligations contained in this lease unless and until Landlord <br />shall have failed to perform such obligation within thirty (30) days of such notice by <br />Tenant to Landlord properly specifying wherein Landlord has failed to perform any such <br />obligation. <br /> <br />18. MISCELLANEOUS PROVISIONS <br />18.1. NOTICE All notices by either party to the other party provided for in this <br />lease shall be in writing and shall be sent by email or other electronic transmission, <br />registered or certified mail, or personally delivered, until otherwise designated, as <br />follows: <br /> <br />18.1.1. To Landlord: <br />Chapel Hill Foundation Real Estate Holdings, Inc., <br />Attn: Gordon Merklein, Executive Director <br />309 South Building, CB 1000 <br />Chapel Hill, NC 27599-1000 <br />Docusign Envelope ID: 1D68F173-6B6F-4424-9E87-2885D9C25A5C
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