PL PACKET 11202001 - Laserfiche WebLink

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• event Landlord elects to terminate this Lease, Landlord may, in addition to other remedies available at law or in equity,recover from Tenant,as liquidated damages, an amount equal to the sum of the following:(i)all unpaid Rent that is payable by Tenant hereunder and that accrues for the period of Tenant's occupancy up and through the effective date of termination; plus (ii) a sum of money equal to the . entire amount of Rent that would be payable under the Lease for the lesser of the following two periods, which amount shall be immediately due and payable upon demand but which shall be discounted to present value using a discount rate equal to the discount rate of the Federal Reserve Bank of Minneapolis as of the date of termination plus one percent(1%): (A)the one(1)year period commencing upon the effective date of termination,or(B)the period commencing upon the effective date of termination and ending upon the original date of the expiration of the Lease Term.For purposes of calculating the amount of Rent that would be payable under the Lease Agreement for the period succeeding the effective date of termination, such Rent shall be computed on the basis of the average monthly amount of Rent accruing during the twenty-four (24) month period immediately preceding the default to which such termination relates(exclusive of any months in which Tenant received "free" or abated rent concessions); provided, however, if the default occurs; rior to the expiration of the first twenty-four(24)months of the Lease,then the Rent shall be computed on the basis of the average monthly amount of Rent accruing during all months preceding the month in which said default occurred (exclusive of any months in which Tenant received "free" or abated rent concessions). To the extent required by law Landlord will have a duty to mitigate Tenant's damages. r (c) Entry for Maintenance. Landlord may, at Landlord's option, after notice and 24 hours to Tenant to cure, enter into and upon the Premises if Landlord reasonably determines that Tenant is not acting within a commercially reasonable time to maintain,repair or replace anything for which Tenant is responsible hereunder and correct the same, without being deemed in any manner guilty of trespass,eviction or forcible entry and detainer and without incurring any liability for any damage resulting therefrom, and Tenant agrees to reimburse Landlord, on demand, as • additional rent, for any expenses that Landlord may incur in effecting compliance with Tenant's obligations under this Lease. (d) Tenant's Property. Any personal property of Tenant remaining in the Premises after the expiration or earlier termination of the Lease or of Tenant's right to possession of the Premises shall be deemed abandoned. Any and all such abandoned property may be handled.removed and stored,as the case may be,by or at the direction of Landlord at the sole risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value,preservation or safekeeping thereof.Tenant shall pay to Landlord,upon demand,any and all expenses incurred in such removal and all storage charges against such property so long as the property shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken by Tenant from storage within thirty(30)days after removal from the Premises shall, at Landlord's option, be deemed conveyed by Tenant to Landlord under this Lease as by a bill of sale without further payment or • credit by Landlord to Tenant. 17