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<br /> If a petition in bankruptcy shall be filed by LESSEE, or <br />LESSEE shall be adjudicated bankrupt, or if LESSEE shall make a <br />general assignment for the benefit of creditors, or if in any <br />proceeding based upon the insolvency of LESSEE a receiver of all <br />of the property of LESSEE shall be appointed and shall not be <br />discharged within ninety (90) days after such appointment, LESSOR <br />may terminate this lease agreement by giving written notice to <br />LESSEE of its intention to do so; but neither bankruptcy, nor <br />insolvency, nor an assignment for the benefit of creditors, nor <br />the appointment of a receiver shall, however affect this lease <br />agreement or permit its termination so long as the covenants on <br />the part of LESSEE to be performed are being performed by LESSEE, <br />or someone claiming under it, or the then owner of the lease term, <br />and provided that this lease agreement shall be duly affirmed by <br />LESSEE, or someone claiming under it, or the then owner of the <br />lease term, within three (3) months after such event. <br /> No delay or omission by either party hereto to exercise any <br />right or power occurring upon any noncompliance or default by the <br />other party with respect to any of the terms hereof shall impair <br />any such right or power or be construed to be a waiver thereof. <br />Every such right and power may be exercised at any time during the <br />continuance of such default. It is further agreed that a waiver <br />by either of the parties hereto of any of the covenants and <br />agreements hereof to be performed by the other shall not be <br />construed to be a waiver of any succeeding breach thereof or of <br />any other covenants or agreements herein contained. <br />19. WAIVER <br /> Failure of either party to insist upon strict performance of <br />any covenant or condition of this lease agreement in any one or <br />more instances shall not be construed as a wa1.ver for the future <br />of any such covenant or condition, but the same shall be and <br />remain in full force and effect. <br />20. NOTICES <br /> Any notice required or desired to be given to either party <br />shall be in writing and be sent by certified mail postage <br />prepaid. Any such notice to the LESSOR shall be addressed to <br />him/her at 500 W. Court Street, Seguin, Texas, 78155. Any such <br />notice to the LESSEE shall be addressed to City Manager, Larry D. <br />Gilley, 630 East Hopkins, San Marcos, Texas, 78666. The address <br />of either party may be changed by written notice thereof to the <br />other party. <br />21. CAPTIONS <br /> <br /> The captions appearing at the beginning of each of the <br />sections and paragraphs of this lease agreement are for reference <br />only and are not to be considered a part of this lease- agreement. <br />22. TIME <br /> It is expressly stipulated that time shall be of the essence <br />of this lease agreement. <br />23. BINDING ON HEIRS. ETC. <br /> <br /> This lease agreement shall be binding upon the heirs, <br />devisees, executors, administrators, successors in interest, and <br />assigns of the parties hereto. <br />24. MODIFICATION <br /> This contract constitutes the whole agreement between the <br />parties. There are no terms, obligations, covenants, or <br />conditions other than those contained herein. No modification or <br />variation thereof shall be deemed valid unless evidenced by an <br />agreement in writing. <br /> -5- <br />