Laserfiche WebLink
<br /> IJOL 2COrAGtïl0 <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 <br /> under this Lease. <br /> B. The Lessee fails to comply with any other term, provision, or covenant of this <br /> Lease, and does not cure the failure within 30 days after written notice to the Lessee. For <br /> any subsequent default by the Lessee for the same or any other reason, the Lessor may <br /> terminate the Lease if that subsequent default continues for more than three days after <br /> notice of the subsequent default. <br /> C. The Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes <br /> an assignment for the benefit of creditors <br /> D. The Lessee commences, or another party commences against the Lessee, <br /> proceedings in bankruptcy, for reorganization, or for the readjustment or arrangement of <br /> its debts under the bankruptcy laws of the United States or under any other law. The <br /> acceptance by the Lessor of the Lessee's monthly payments subsequent to the occurrence <br /> of this event of default, or that set forth in subparagraph E below, shall be as <br /> compensation for use and occupancy of the leased Premises, and shall in no way <br /> constitute a waiver by the Lessor of its right to exercise any remedy provided for any event <br /> of default~ <br /> E. A receiver or trustee is appointed for all or substantially all of the assets of the <br /> Lessee. <br /> F. The Lessee abandons or vacates all or any substantial portion of the Leased <br /> Premises. <br /> 11.02. Upon the occurrence of any of the events of default, the lessor shall have the <br /> option to pursue anyone or more of the following remedies without any notice or demand <br /> whatsoever: <br /> A. Terminate this Lease. In this event the Lessee shall immediately surrender the <br /> Leased Premises to the Lessor, and if the Lessee fails to do so, the Lessor may enter and <br /> take possession of the Leased Premises and remove the Lessee and any other person <br /> occupying the premises, by force if necessary, without prejudice to any other remedy it <br /> may have for possession or arrearages in rent, and without being liable for any resulting <br /> damages. The Lessee agrees to pay to the Lessor the amount of all resulting costs, <br /> losses and damages incurred by the Lessor within 30 days of the Lessor's issuance of a <br /> statement to the Lessee. <br />