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HomeMy WebLinkAbout1017 ?i - ' . ;t ~ , ~ . i . • . , . , , . 9. Defa~ult. If default shall b• mad"e by the Lessee in the perform~nce o any of its covenants herein aet-forth, then in addition to any other riqhts or remedies which the Leseor may have, inclu8lnq but not limited to those aet forth in g, the Lessor ehall hav~ the iiqht to declare this lease cancelled and tern?inated and re-enter upon the deaaised premises either with or . without procesa of law, and after notice of such declaration and upon demand for poase8sion.the Lessea shall peacea~bly surrender and deliver up th~ denafsed preinieea to the Lessor. Pro#idinq nothiaq in this lease ahall be construed as ° authorisinq the Lessor to dsclaYa thia lease in default where the default cor?sists of nonpayment of rant, taxes and premiwas for insurau~ce until such nonpayment in violation of ~e terms of this lease ahall.have continued for 15 days;,and whers the alleqed default consists in some violation other than nonpay- ment of rent, taxes and insurance premiums, the Lessor may not declara this leas in default until such violation shall have - continued uncured for 20 days after the_Lessor shall have qiven the bessee written nQtica of such violation; provided, however, ~ that nothinq contained herein shall be construed as precluding - the Lessor from havinq such reanedy as may become neceasary in - o=der to preserve the Lessor's_riqhts and intereats in and to the demised p~ce~nises and this lease bebre the expiration of the qrace or notice:periods abova provided if under the particular circum- stances then existinq ~he allowanca of auch_qrace or the qiving - of such'notice t~tould prejudice~or endanqer the rights and estate of the Lessor in the d~miead premiaes and this lease. If the Lessee defaulta :in any~ of the pay~nents of the swns required to be paid by it, i~cludiaq but not limited to rent, taxes and in- surance premiume, the Leasee may cure said default at any time prior to a decree canc411inq this lease or, a-decree and/or judq- ~ ment of eviction, or prior~to a final decree of foreclosure of lien provided'in 8, by payment unto the Lessor the swas ~hQn due _ and owing s~id I~ssor, and/or paid by the Lessor in behalf of the I.essee~together with interest_thereon at the rate of 10 r cent per annum as well as paym~ent to the Lessor of any and al~costs incurred or expended by the Lessor;iacluding reasonable attorneys' ~ fees aad court costs, and by the perforntance of all of the Lessee's I defaulted covenants not performable by the paynient of monies to ~ the Lessor. This prcvision shall.be in addition and supplemental to any provision elsew~ere.herein set forth with respect to the . payment of interest or deferrad or late payments except ~hat the total interest due and payabls on any rent payment made by the ~ Lessor on behalf of tha Lessee shail not exceed 10 per cent per ~annum. . - 10. Running of Grace Periods. All default and;grace periods shall run coneurren y a~ no consecutively. - 11. Cwaulative Re~aedies. The var•ious riqhts, remedies, - jpowers, options, e~ct ons, pre erences and liEns of the Lessor Mset forth in this leass shall be consttued as beinq exclusive of ~he other or exclusive~ of any rights or priorities allawed by 1aw and the exerciae of one or more ehall not be construed as a waiver of the others. ~ 12. Constructfon of a Remedy as Election to Te~minate. The exerciae by e sor o any o s rig~s o reme es pro- vided in thie lease tv enforce the provisions of this lease by decree, judgment or otherwiae, shall not be construed as an election by the Leasor to ~armiaate au~d cancel this lease except if the exercise of such riqht or remedy ba: the declaratioA by the Lessor that the lease ie terminated and cancelled due to~default ~o~.~R aaR~~o.. on the part of the Lessee; or (b) the entry of a judqment, decree .no,„.~,.~,u,,...~ ~ or writ of eviction a~ to the Lesseej or (c) the ehtry of a judg- ~,N,~... ~ ment or decree of a court of competent juriadiction cancollinq •,•...~..a.. this lease. . ~ao w?wso« sr.~n ,.w•w. ~towia+n sN~s ~ - - z3 - - do~i86 ~~ti016 ~ ~ ~ . .