Res 1992-139 - Laserfiche WebLink

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/:)If ft/ interest in this Lease and in the building on the Leased Premises to a person, firm or corporation, assuming Lessor's obligations hereunder, Lessee agrees to look solely to the responsibility of such successor in interest of the Lessor. Any security given by Lessee to secure performance of its obligations hereunder may be assigned and transferred by Lessor to such successor in interest of Lessor and Lessor shall thereby be discharged of any further obligation. ARTICLE XIII. Events of Default and Remedies 13.1 The following events shall be deemed to be events of default by Lessee under this Lease: ( 1) Lessee fails to pay when due any rental or ~ny other sums or charges due under this Lease. (2) Lessee fails to comply with any other term, provision, or covenant of this Lease, and does not cure the failure within 30 days after written notice thereof to Lessee. For .- any subsequent default by the Lessee for the same or any , other reason, the Lessor may terminate the lease if that subsequent default continues for more than three (3) days after notice of the subsequent default. In all cases, the Lessee is responsible for the performance of any sublessee. (3) Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors. (4) Lessee commences proceedings in bankruptcy, for reorganization, or for the readjustment or arrangement of Lessee's debts, whether under the Bankruptcy Act of the United States of America or under any other law, whether \ state or federal, now or hereafter existing for the relief ~ of debtors, or there shall be commenced any analogous - statutory or nonstatutory proceeding involving Lessee. The acceptance by Lessor of Lessee's monthly payment as herein provided subsequent to the occurrence of this event of -14-