Laserfiche WebLink
<br /> VOL 191 PAtE 824 <br /> 10.02. In the event of the transfer and assignment by Lessor of its interest in this Lease and in the <br /> building on the Leased Premises to a person, firm or corporation, assuming Lessor's obligations, <br /> Lessee agrees to look solely to the responsibility of such successor in interest of the Lessor. Any <br /> security given by Lessee to secure performance of its obligations may be assigned and transferred <br /> by Lessor to such successor in interest of Lessor and Lessor shall be discharged of any further <br /> obligation. <br /> Article 11. Events of Default and Remedies <br /> 11.01. The following events shall be events of default by the Lessee under this Lease: <br /> A. The Lessee fails to pay when due any rental or any other sums or charges due under this <br /> Lease. <br /> B. The Lessee fails to comply with any other term, provision, or covenant of this Lease, and <br /> does not cure the failure within 30 days after written notice to the Lessee. For any subsequent <br /> default by the Lessee for the same or any other reason, the Lessor may terminate the Lease if that <br /> subsequent default continues for more than three days after notice of the subsequent default. <br /> C. The Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes an <br /> assignment for the benefit of creditors <br /> D. The Lessee commences, or another party commences against the Lessee, proceedings <br /> in bankruptcy, for reorganization, or for the readjustment or arrangement of its debts under the <br /> bankruptcy laws of the United States or under any other law. The acceptance by the Lessor of the <br /> Lessee's monthly payments subsequent to the occurrence of this event of default, or that set forth <br /> in subparagraph E below, shall be as compensation for use and occupancy of the Leased Premises, <br /> and shall in. no way constitute a waiver by the Lessor of its right to exercise any remedy provided for <br /> any event òf default. <br /> E. A receiver or trustee is appointed for all or substantially all of the assets of the Lessee. <br /> F. The Lessee abandons or vacates all or any substantial portion of the Leased Premises. <br /> 11.02. Upon the occurrence of any of the events of default, the Lessor shall have the option to <br /> pursue anyone or more of the following remedies without any notice or demand whatsoever: <br /> A. Terminate this Lease. In this event the Lessee shall immediately surrender the Leased <br /> Premises to the Lessor, and if the Lessee fails to do so, the Lessor may enter and take possession <br /> of the Leased Premises and remove the Lessee and any other person occupying the premises, by <br /> force if necessary, without prejudice to any other remedy it may have for possession or arrearages <br /> in rent, and without being liable for any resulting damages. The Les.see agrees to pay to the Lessor <br /> the amount of all resulting costs, losses and damages incurred by the Lessor within 30 days of the <br /> Lessor's issuance of a statement to the Lessee. <br /> B. Relet the Leased Premises and receive the rent. The Lessee agrees to pay to the Lessor <br /> any resulting costs, and any deficiency that may arise by reason of reletting, within 30 days of the <br /> Lessor's issuance of a statement to the Lessee. <br /> C. Enter the Leased Premises, by force if necessa.ry, without being liable for prosecution or <br /> any claim for dama.ges, and do whatever the Lessee is obligated to do under the terms of this Lease. <br /> 7 <br />