Res 1999-203 - Laserfiche WebLink

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20.3 If Lessor fails to perform any of its obligations hereunder within thirty (30) days after written notice from Lessee specifying such failure, or if such failure cannot be reasonably cured within said thirty (30) days and Lessor fails to diligently and continuously prosecute the curing of such failure until completion, then Lessee's exclusive remedy shall be an action for damages. Unless and until Lessor fails to so cure any default after such notice, Lessee shall not have any remedy or cause of action by reason thereof. All obligations of Lessor hereunder shall be construed as covenants, not conditions; and all such obligations shall be binding upon Lessor only during the period of its possession of the Shopping Center and not thereafter. The term "Lessor" shall mean only the owner of the Shopping Center and, in the event of the transfer by such owner of its interest in the Shopping Center, such owner shall thereupon be released and discharged from all covenants and obligations of the Lessor thereafter accruing, provided that such covenants and obligations shall be binding during the lease term upon each new owner for the duration of such owner's ownership. 21. No Waiver. No acceptance of Rent by Lessor (or any portion thereof) or any other sums payable by Lessee hereunder (or any portion thereof) or failure or delay in enforcing any obligation of Lessee herein shall be construed as a waiver as to any breach of any such obligation, covenant or condition of Lessee nor a waiver of Lessor's fights hereunder. Waiver by Lessor of any right for any default of Lessee shall not constitute a waivef of any right for either a prior or subsequent default of the same obligation or for any prior or subsequent default of any other obligation. No right or remedy of Lessor hefeunder or covenant, duty or obligation of Lessee hereunder shall be deemed waived by Lessor unless such waiver be in writing, signed by Lessor. 22. LIEN OF LESSOR. LESSEE HEREBY GRANTS TO LESSOR AND LESSOR SHALL HAVE A LIEN AS SECURITY FOR PAYMENT OF ALL RENTS DUE AND TO BECOME DUE HEREUNDER, ALL OTHER INDEBTEDNESS AND LIABILITIES OF LESSEE TO LESSOR NOW EXISTING OR HEREAFTER INCURRED, AND THE PERFORMANCE OF THE COVENANTS AND AGREEMENTS OF LESSEE HEREIN ON ALL GOODS, WARES, MERCHANDISE, INVENTORY, FURNITURE, CHATTELS, FIXTURES, EQUIPMENT AND OTHER PERSONAL PROPERTY PLACED UPON THE PREMISES, AND ALSO UPON ALL PROCEEDS OF ANY INSURANCE WHICH MAY ACCRUE TO LESSEE BY REASON OF DESTRUCTION OR DAMAGE TO ANY SUCH PROPERTY; PROVIDED, HOWEVER, THAT SUCH LIEN IS IN ADDITION TO AND CUMULATIVE OF ANY STATUTORY OR CONSTITUTIONAL LIEN TO WHICH LESSOR MAY BE ENTITLED; AND, PROVIDED FURTHER, THAT LESSOR'S CONTRACTUAL AND STATUTORY LIEN ON SUCH PROPERTY OF LESSEE SHALL BE SUBORDINATE TO THE LIEN OF ANY RECORDED PURCHASE MONEY MORTGAGES ONLY TO THE EXTENT OF THE INDEBTEDNESS SECURED BY SUCH PURCHASE MONEY MORTGAGES IN EXISTENCE AT THE TIME SUCH PROPERTY IS PLACED OR INSTALLED UPON THE PREMISES. LESSEE AGREES TO EXECUTE SUCH TEXAS UNIFORM COMMERCIAL CODE FINANCING STATEMENTS OR OTHER INSTRUMENTS AS MAY BE REQUESTED BY LESSOR TO EVIDENCE THE LIEN AND SECURITY INTEREST CREATED HEREIN. THIS LIEN AND SECURITY INTEREST MAY BE FORECLOSED WITH OR WITHOUT COURT PROCEEDINGS, BY PUBLIC OR PRIVATE SALE WITH OR WITHOUT HAVING SUCH PROPERTY AT THE SALE, AFTER GIVING LESSEE AT LEAST TEN (10) DAYS WRITTEN NOTICE SENT TO LESSEE'S J-AST KNOWN ADDRESS AS TO THE TIME AND PLACE OF THE SALE IF A PUB~IC SALE AND AT LEAST TEN (1 0) DAYS WRITTEN NOTICE SENT TO LESSEE'S LAST KNOWN ADDRESS OF THE TIME AFTER WHICH A PRIVATE SALE OR OTHER INTENDED DISPOSITION IS TO BE MADE. AT A PUBLIC SALE, LESSOR OR ITS ASSIGNS MAY PURCHASE THE PROPERTY UPON BEING THE HIGHEST BIDDER AT SUCH SALE. 13 Lessee k Lessor i(i.-tJ