2007-09-24 Agenda - Laserfiche WebLink

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Lessee’s interest in this Lease, where possession is not restored to Lessee within thirty (30) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where such seizure is not discharged within thirty (30) days. (d) The desertion, abandonment or vacation of the Premises by Lessee, or cessation of regular operations in the Premises. REMEDIES UPON DEFAULT. 18. Upon the occurrence of any event of default as provided for in Section 17, Lessor shall have the option to pursue any one or more of the following remedies (as well as any other remedies provided by law) without any notice or demand whatsoever, except as provided by this Lease: (a) Acceleration of Rent. Lessor may declare immediately due and payable and recover, in addition to all accrued rent, any other damages provided for herein, and the present value of the rent remaining to be paid under this Lease for the balance of the Lease term, discounted as reasonable determined by Lessor, less the fair rental value of the Premises. Upon Lessee’s payment of that present value, this Lease shall terminate. (b) Reentry by Lessor. If Lessor has not terminated this Lease as provided in this Section 18(c), Lessor may enter upon and take possession of the Premises by summary proceedings and dispossess, expel and remove Lessee and any other person who may be occupying the Premises or any part thereof (including changing or altering the locks and other security devices) and Lessor may remove and expel any personal property or fixtures located therein, all without being liable to any prosecution therefore or for any damages resulting therefrom. Such reentry and/or repossession by Lessor shall not terminate this Lease nor relieve Lessee of its obligations under this Lease including its obligation to pay rent (whether or not the time for payment of rent has been accelerated). (c) Termination of Lease. Lessor may forfeit and terminate this Lease forthwith. In the event of such termination Lessee shall immediately surrender the Premises to Lessor and if Lessee fails to do so, Lessor may enter upon and take possession of the Premises and expel or remove Lessee and any other person who may be occupying the Premises or any part thereof (including changing or altering the locks and other security devices, and any personal property or fixtures located therein. (d) Nonwaiver by Lessor. Pursuit by Lessor of any of the foregoing remedies or any other remedy provided by law shall not constitute a forfeiture or waiver of any rent due to Lessor hereunder or of any damages accruing to Lessor by reason of the violation by Lessee of any of the terms, provisions and covenants of this Lease. In no event shall Lessee be relieved from its obligation to pay the rental specified in this Lease by reason of a surrender of possession, except by termination of this Lease, or for any other reason whatsoever, unless specifically agreed to in writing by Lessor. No waiver by Lessor of any violation or breach of any of the terms, provisions and covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Lessor to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. (e) Lessor’s Cure of Lessee’s Default. In the event that Lessee shall be in default beyond any applicable cure period in Section 17, Lessor shall have the right, but not the obligation, to cure such default on behalf of Lessee, in which event Lessee shall reimburse Lessor, on demand, for all sum paid H-5-h by Lessor to effect such cure, plus five percent (5%) thereof to cover Lessor’s overhead expenses. In September 24, 2007 H-5-f