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<br /> VOL 176PAGE616 <br /> -7- <br /> 11.4 Any insurance against casualty loss which may be carried by either Lessor or <br /> Lessees shall be under the sole control of the party carrying such insurance and <br /> the other party shall have no interest in any proceeds of such insurance. Lessor <br /> and Lessees expressly waive any cause of action or right of recovery which either <br /> of them may have against the other for any loss or damaQe to the Leased Premises <br /> or to the contents belonging to either party contained in the premises caused by <br /> fire, explosion, or other risk covered by the Texas standard form of fire and <br /> extended coverage policy. <br /> ARTICLE 12. <br /> Assignment and Subletting <br /> 12.1 Lessees shall not assign or in any manner transfer this Lease or any estate or <br /> interest in the Lease or sublet the Leased Premises or any part of the Leased <br /> Premises without the prior written consent of Lessor. The consent by the Lessor <br /> shall not be unduly withheld. Consent by Lessor to one or more assignments or <br /> sublettings shall not operate as a waiver of Lessor's rights as to any subsequent <br /> assignments and sublettings. Notwithstanding any assignment or subletting, <br /> Lessees shall at all times remain fully responsible and liable for the payment of the <br /> rent specified and for compliance with all of its other obligations under this Lease. <br /> 12.2 In the event of the transfer and assignment by Lessor of its interest in this Lease <br /> and in the building on the Leased Premises to a person, firm or corporation, <br /> assuming Lessor's obligations, Lessees agree to look solely to the responsibility of <br /> the successor in interest of the Lessor. Any security given by Lessees to secure <br /> performance of its obligations may be assigned and transferred by Lessor to the <br /> successor in interest of Lessor and Le,ssor shaH be discharged of any further <br /> obligation. <br /> ARTICLE 13. <br /> Events of Default and Remedies <br /> 13.1 The following events shall be deemed to be events of default by Lessees under this <br /> Lease: <br /> A. Lessees fail to pay when due any rental or any other sums or charges due <br /> under this Lease. <br /> B. Lessees fail to comply with any other term, provision, or covenant of this <br /> Lease, and do not cure the failure within 30 days after written notice to Lessees. <br /> For any subsequent default by the Lessees for the same or any other reason, the <br /> Lessor may terminate the lease if that subsequent default continues for more than <br /> ten (10) days after notice of the subsequent default. In all cases, the Lessees are <br /> responsible for the performance of any sublessee. <br /> C. Lessees become insolvent, make a transfer in fraud of creditors, or make <br /> an assignment for the benefit of creditors. <br /> D. Lessees commence proceedings in bankruptcy, for reorganization, or for the <br /> readjustment or arrang.ement of Lessees' debts, whether under the Bankruptcy Act <br /> of the United States of America or under any other law, whether state or federal, <br /> now or subsequently existing for the relief of debtors, or there shall be commenced <br /> any analogous statutory or nonstatutory proceeding involving Lessees. The <br /> acceptance by Lessor of Lessees' monthly payment as provided subsequent to the <br /> occurrence of this event of default shall be as compensation for use and occupancy <br /> of the Leased Premises, and shall in no way constitute a waiver by Lessor of its <br />