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<br /> 23N <br /> -15- <br /> and"Landlord shall thereby be discharged of any further obligation <br /> relating thereto. <br /> 15.03 Tenant shall not mortgage, pledge, or otherwise <br /> encumber its interest in this lease or in the Demised Premises. <br /> ARTICLE XVI. PROPERTY TAXES <br /> 16.01 Tenant shall be liable for all taxes levied against <br /> personal property and trade fixtures placed by Tenant in the <br /> Demised Premises. <br /> ARTICLE XVII. DEFAULT BY TENANT AND REMEDIES <br /> 17.01 The following events shall be deemed to be events of <br /> default by Tenant under this lease: <br /> (1) Tenant shall fail to pay any installment of rent <br /> hereunder and such failure shall conti~ue for a period <br /> of fifteen (15) days. <br /> (2) Tenant shall fail to comply with any term, provision, <br /> or covenant of this lease, other than the paYment of <br /> rent, and shall not cure such failure within fifteen <br /> (15) days after written notice thereof to Tenant. <br /> (3) Tenant or any guarantor of Tenant's obligations under <br /> this lease shall make a transfer in fraud of <br /> creditors, or shall make an assignment for the benefit <br /> of creditors. , <br /> (4) Tenant or any guarantor of Tenant's obligations under <br /> this lease shall file a petition under any section or <br /> chapter of the National Bankruptcy Act, as amended, or <br /> under any similar law or statute of the united states <br /> or any state thereof; or Tenant or any guarantor of <br /> Tenant's obligations under this lease shall be <br /> adjudged bankrupt or insolvent in proceedings filed <br /> against Tenant or any guarantor of Tenant's <br /> obligations under this lease thereunder. <br /> (5) A receiver or trustee shall be appointed for the <br /> Demised Premises or for all or substantially all of <br /> the assets of Tenant or any guarantor of Tenant's <br /> obligations under this lease. <br /> (6) Tenant shall desert or vacate any substantial portion <br />