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Defaults <br />The Lease provides that, if the Lessee defaults (i) in the payment of any rentals or other <br />sums payable to the Authority under the Lease, (ii) by failing to comply with the terms of its <br />resolution establishing funds for the payment of lease rentals, or (iii) in the observance of any <br />other covenant, agreement or condition of the Lease, and such default continues for ninety (90) <br />days after written notice to correct the same, the Authority may protect and enforce its rights by <br />proceedings at law or in equity. <br />• <br />• <br />