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6C (3)
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07-26-11 Packet
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6C (3)
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physical injury or damage to the Premises or necessitate changes or repairs to the same. Tenant repair and restore <br />any injury or damage to the Premises arising from such removal so as to return the Premises the condition described <br />in Section 10.1 above, or alternatively, Tenant shall pay or cause to be paid to Landlord one hundred ten percent <br />(110 %) of the cost of repairing or restoring injury or damage with such costs to be considered Additional Rent and <br />shall be deemed due and payable as of the date on which surrender by Tenant is required under this Lease. <br />10.3. Property Not Removed. Any personal property of Tenant which shall remain in or upon the <br />Premises after Tenant has surrendered possession of the Premises shall be deemed to have been abandoned by <br />Tenant, and at the option of Landlord, such property: (a) shall be retained by Landlord as its property; (b) shall be <br />disposed of by Landlord in such manner as Landlord shall determine, without accountability to any person; or (c) <br />shall be removed by Tenant within three (3) business days at Tenant's expense upon written request from Landlord <br />or such Tenant fails to remove such property within such timeframe Landlord may remove such property at Tenant's <br />expenses, charging Tenant one hundred ten percent (110 %) of the costs incurred by Landlord to remove said items, <br />which funds shall be due immediately upon notification of Tenant of such charges. Landlord shall not be responsible <br />for any loss or damage occurring to any property owned by Tenant remaining in the Premises after Tenant surrenders <br />possession thereof. <br />10.4. Survival of Terms. The terms of this Article X and other terms of this Lease referred to herein <br />shall survive any termination of this Lease. <br />ARTICLE XI. <br />DEFAULT. <br />11.1. Events of Default. Each and all of the following events shall be deemed an "Event of Default" by <br />Tenant under this Lease: <br />(a) Nonpayment. Tenant's failure to pay Base Rent, Additional Rent, or other sums or charges that <br />Tenant is obligated to pay by any provision of this Lease when due. <br />(b) Lapse of Insurance. Any failure to maintain the insurance coverages required to be maintained by <br />Tenant under this Lease. <br />(c) All Other Lease Violations. Tenant's failure to perform or observe any other covenant, condition, <br />or agreement of this Lease, which failure is not cured within thirty (30) days after the giving of notice thereof by <br />Landlord specifying the items in default unless such default is of such nature that it cannot be cured within such <br />thirty (30) day period, in which case no Event of Default shall occur so long as the Tenant shall commence the <br />curing of the default within such thirty (30) day period and shall thereafter diligently prosecute the curing of same; <br />provided, however, if the Tenant shall default in the performance of any such covenant or agreement of this Lease <br />more than one time in any twelve (12) month period notwithstanding that such default shall have been cured by <br />Tenant, the second and further defaults in said twelve (12) month period may be deemed by Landlord, in its sole <br />discretion, an Event of Default without the ability for cure. <br />(d) Falsification of Information. If Tenant, any guarantor of Tenant's obligations under this Lease, or <br />any agent of Tenant falsifies any report in any material respect or misrepresents other information in any material <br />respect required to be furnished to Landlord pursuant to this Lease. <br />(e) Merger or Consolidation. If Tenant is merged or consolidated with any other entity, or there is a <br />transfer of a controlling interest in Tenant, other than as permitted in Section 13.1(b) of this Lease. <br />(f) Tenant's or Guarantor's Death, Dissolution or Liquidation. The death of Tenant or any guarantor <br />of Tenant's obligations under this Lease; or the commencement of steps or proceedings toward the dissolution, <br />winding up, or other termination of the existence of Tenant or of any guarantor of Tenant's obligations, or toward <br />the liquidation of either of their respective assets. <br />15 <br />
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