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Lease upon any default shall operate to waive such right upon the same or other default <br />0 subsequently occurring. <br />C. Lessee understands and agrees that a default in this Lease by Lessee can <br />result in substantial foreseeable costs to Lessor. Such costs may include, without limitation, <br />reimbursements to the Federal Transit Administration for monies provided to Lessor for the <br />purchase of the Property. Accordingly, as liquidated damages and not as a penalty, Lessee <br />agrees that, upon a default of this Lease, it shall be liable to Lessor for such costs which may be <br />in addition to the remaining lease payments reserved by this Lease. <br />10. NOTICES. <br />All notices under this Lease by either party to the other party shall be deemed given upon <br />deposit of the same in the U.S. Mail, postage prepaid, overnight express mail, return receipt <br />requested, to the other party at such other party's address as set forth on the first page of this <br />Lease, or at such other address as such party may from time to time hereinafter designate in <br />writing. <br />11. SUCCESSORS OR ASSIGNS. <br />All covenants in this Lease, whether by the Lessor or the Lessee, shall be binding upon <br />the successors and assigns of the respective parties hereto. <br />12. SEVERABILITY. <br />In the event any section or provision of this Lease, or any covenant, stipulation, <br />obligation, agreement, act or action, or part thereof, made, assumed, entered into or taken under <br />this Lease, or any application thereof, is for any reason held to be illegal or invalid, or is at any <br />time inoperable, that illegality or invalidity or inoperability shall not affect the remainder hereof <br />or any other section or provision of this Lease or any other covenant, stipulation, obligation, <br />agreement, act or action, or part thereof, made, assumed, entered into or taken under this Lease, <br />which shall be construed and enforced as if that illegal or invalid or inoperable portion were not <br />contained herein. <br />13. CAPTIONS. <br />The captions included throughout this Lease are for convenience and reference only and <br />the words contained therein shall in no way be held to explain, modify, amplify or aid in the <br />interpretation, construction or meaning of the provisions of this Lease. <br />13 <br />