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<br /> -18- <br /> In the event that such rental reductions cannot be negotiated, then <br /> this Agreement shall terminate and end sixty (60) days thereafter, and <br /> the parties shall have no further obligations hereunder. <br /> XVIII. <br /> A. Default by LESSEE. <br /> (1) If LESSEE fails to pay any rental or other monies due <br /> LESSOR hereunder, then ln such event, upon LESSOR <br /> depositing in the U.S. Mail, certified, return receipt <br /> requested, written notice of cancellation of this Agreement <br /> to LESSEE addressed as set forth hereinbelow in Paragraph <br /> XXII specifying the nature of said default and upon <br /> LESSEE'S failure to cure or remedy such default within ten <br /> ( lO) days thereafter, then this Agreement shall, at the <br /> option of LESSOR, terminate and end on the date set <br /> forth in such notice of cancel1ation, and LESSEE shal1 quit <br /> and surrender the demised premises to LESSOR and LESSEE <br /> shall remain liable for any unpaid rentals and other <br /> monies to the date of termination and thereafter as <br /> provided by law. <br /> ( 2) If LESSEE fails to perform any of the te rms and covenants <br /> requ ired by this Agreement to be performed other than the <br /> payment of rentals or other monies due LESSOR, then in such <br /> event, upon LESSOR depositing in the U.S. ~1a iI, certified, <br /> return receipt requested, written notice of cancellation of <br /> this Agreement to LESSEE addressed as set forth hereinbelow <br /> in parag raph XXII specifying the nature of said <br /> default, and upon LESSEE'a failure to cure or remedy such <br /> default within thirty ( 30) days thereafter, then this <br /> Agreement shall, at the option of LESSOR, terminate and <br /> end on the date set forth in such notice of cancellation, <br /> and LESSEE shall quit and surrender the demised premises <br /> to LESSOR and LESSEE shall remain liable for any damages, <br /> expenses, and costs, including attorney's fees, incurred by <br /> LESSOR as a result of such default and termination. <br /> ( 3) If LESSEE shal1 become a bankrupt, or insolvent, or file <br /> any debtor proceedings, or take or have taken against <br /> Lessee in any court pursuant to any statute either of the <br /> United States or of the State of Texas a petition in <br /> bankruptcy or insolvency or for reorganization or for the <br /> appointment of a receiver or trustee for all or a portion <br /> of Lessee's property, or if Lessee makes an assignment for <br /> the benefit of creditors, or petitions for or enters into <br /> an arrangement, or suffers this Agreement to be taken under <br /> a writ of execution or attachment or if this Agreement <br /> passes to or dissolves upon by law or otherwise to anyone <br /> other than LESSEE except as herein provided, the same shal1 <br /> constitute a default on the part of LESSEE and upon LESSOR <br /> depositing in the U.S. Mail, certified, return receipt <br /> requested, written notice of cancellation of this Agreement <br /> to LESSEE addressed as set forth hereinbelow in <br /> Paragraph XXII specifying the nature of said default and <br /> upon LESSEE'S failure to cure or remedy such default <br /> within ten (10) days thereafter, then this Agreement shall <br /> terminate and end on the date set forth in such notice of <br /> cancellation, and LESSEE shall quit and surrender <br /> the demised premises to LESSOR and LESSEE shall remain <br /> liable for any un~aid rentals and other monies to <br /> the date of termlnation and thereafter as provided <br /> by law. <br /> Termination of this Agreement under Paragraphs XVII(A)(l), <br /> Paragraph XVII(A)(2), XVI I (A) ( 3 ), and XVII (A) (4) above shall not <br />