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PL PACKET 11202001
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PL PACKET 11202001
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Last modified
12/30/2015 7:39:40 PM
Creation date
12/30/2015 7:39:24 PM
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SP Box #
27
SP Folder Name
PL PACKETS 2000-2004
SP Name
PL PACKET 11202001
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• (e) Late Charge. In the event Tenant fails to pay any portion of the Rent payable by <br /> Tenant hereunder within five(5)days of the date that such amount is due,Tenant <br /> shall pay to Landlord on demand a late charge in an amount equal to five percent <br /> (5%)of such installment or other charge that is so overdue in any month,and two <br /> percent(2%)each month thereafter until paid in full,to help defray the additional <br /> cost to Landlord for processing such late.payments. Such late charge shall be <br /> additional rent hereunder and the failure to pay such late charge within five(5)days <br /> after demand therefor shall be an Event of Default hereunder. The provision for <br /> such late charge shall be in addition to all of Landlord's other rights and remedies <br /> hereunder and shall not be construed as liquidated damages or as limiting <br /> Landlord's remedies in any manner. <br /> (f) Miscellaneous. Pursuit of any of the foregoing remedies shall not preclude pursuit <br /> of any of the remedies herein provided or any other remedies available at law or in <br /> equity, nor shall pursuit of any remedy herein provided constitute a forfeiture or <br /> waiver of any Rent due to Landlord hereunder or of any damages accruing to the <br /> non-breaching party by reason of the violation of any term, provision and/or <br /> covenant herein contained. No agreement to accept a surrender by Tenant of its <br /> right or possession of the Premises shall be valid unless in writing signed by <br /> Landlord. No waiver by either party of any violation or breach of any term. <br /> provision and/or covenant herein contained shall be deemed or construed to <br /> constitute a waiver of any other violation or breach of any term, provision and/or <br /> covenant herein contained.Landlord's acceptance of the payment of rental or other <br /> payments hereunder after the occurrence of an Event of Default shall not be <br /> • construed as a waiver of such default,unless Landlord so notifies Tenant in writing. <br /> Forbearance by either party to enforce one or more of the remedies with respect to <br /> any default shall not constitute a waiver thereof, or a waiver of any remedy in <br /> connection with any subsequent default, unless such waiver is acknowledged in <br /> writing. In the event of any litigation to enforce or interpret the terms hereof,the <br /> prevailing party shall be entitled to an award of its reasonable attorneys' fees and <br /> disbursements. <br /> 23. Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s)now or <br /> at any time hereafter constituting a lien or charge upon the Property or the Premises;provided,however,that <br /> if the holder of any such mortgage elects to have Tenant's interest in this Lease superior to any such <br /> instrument, then, by notice to Tenant from such holder, this Lease shall be deemed superior to such lien, <br /> whether this Lease was executed before or after said mortgage.Tenant shall at any time hereafter on demand <br /> execute any instruments,releases or other documents that may be required by any mortgagee for the purpose <br /> of subjecting and subordinating this Lease to the lien of any such mortgage:provided,it shall be a condition <br /> to Tenant's obligation to subordinate to any future mortgage encumbering the Building that Tenant receives <br /> an agreement from the holder of any such mortgage that,in the event that such holder acquires the Landlord's <br /> interest in the Building, such holder shall recognize the validity of this Lease so long as Tenant is not in <br /> default hereunder beyond any applicable cure periods. <br /> 24. Landlord's Default. In the event of any default by Landlord. Tenant will give Landlord <br /> written notice specifying the default with particularity, and Landlord shall thereupon have thirty(30)days <br /> in which to cure any such default;provided,in the event such default cannot reasonably be cured within such <br /> • thirty (30) day period, an event of default shall not be deemed to have occurred so Ion- as Landlord <br /> - 18 <br />
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