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HomeMy WebLinkAbout1771 . ~ . i . (15) days after written notice of Buch default shall have been .qiven by the Lessor to tho Lessee; and where thQ alleged default consists of some violation other than the ~oregoinq, the Lessor may not declare this Lease in default until such ~ violation shall have contfnued for thirty (30) days after the Lessor shall have qiven the Lessee written notice of such violation, and the Lessee shall not havo undertaken, during said . thirty day notice period, to cure said violation by vigorous and affirmative action; provided, however, that nothinq herein contained shall be cons~rued as precluding the Lessor fro~a havinq such remedy as may become necessary in order to preserve the Lessor's rights and the interest of the Lessor ' in the premises and in this Lease, even before the expiration ~ of the grace or notice periods provided for in this paragraph if, under particular circumstances then existinq, the allow- ~ance of such qrace period or the qivinq of such~notice would . prejudice or endanqer the riqhts and estate of the Lessor ia . . this Lease and in the Demised Premises. d. All default and grace periods shall be deemed to run concurrently and not consecutively. _ - e. It is mutually covenanted and agreed that the ~ ~ .various riqhts, powers, options, elections, privileges and _ re~rtedies of the Lessor contained in this I.ease shall be con- strued as cumulative, and no one of them shall be construed as ~ beinq exclusive of any other, or exclusive of any rights or priorities by law. f. It is further covenanted and aqreed by and between , the parties hereto that the riqht to the Lessor in this Lease . . to collect the rent that may be due under the terms of this Lease by any proceedinqs under the same, or the right to _ collect any additional rent, money, or payments due under the . ternas of this Lease by any proceedinqs under the same, or the ~ r~ght given the I.essor to enforce any of the tenas and pro- visions of ttiis I.ease, shall not in any way affect the • riqhts of the Lessor to declare this Lease void and the term . hereby ended, as herein provided, when default is made by the Lessee in any of the terms and provisions hereof. g. It is further covenanted and aqreed by and between the parties hereto that in the event of the ternaination of i - this Lease at any_time before the expiration of the term ~ of years hereby created, for the breach by the Lessee of any of~ ~ the covenants herein~contained., then all of the right, estate and interest of the Lessee in and under this Tndenture and in the Demised Premises, and all additions and accessions . thereto then situated on the said Demised Premises, together with all rents, issues and profits of said premises and the • iunproveraents thereon, whether then accrued or to accrue, and all insurance policies~and all insurance monies paid or payable thereunder, and the then entire undisbursed balance of any . buildinq escraw fund., and the entire undisbursed balance of any then existinq joint bank account which may have been created under the terins hereof, and all of them, shall at once pass to and become the property of the Lessor without any compensation therefor unto the Lessee, not as a penalty for forfeiture, but as liquidated damages to Lessor because of such default ~ by Lessee and the consequent cancellation of the Lease, each a ~ of the parties acknowledqinq it to be the fact that for breach and consequent cancellation of a long-tern? lease of this character the Lessor will sustain substanti~al damage of such ~ ~ character as to make it most burdensome and tedious, if not actually impossible, to ascertain the amount thereof with mathematical preciBion. Each of the parties, therefor, have aqreed upoa this provision for liquidated damagea ia tbe faterests of abviatinq what would- otherwise~ be burden~aae and diffiault litiqatfon to maintafn or to -18- a°o~ ~$8 ~1?~6$ LAW p//1Cit p/ OOL~iT~JN, ~RANKLIN. CNONIN ~ iGMRANK RA.~ 2020 NORTM[A!T ld~llp tYRttT. NOIITM MIAMI BEACM, /LflR1DA 3~Ib2 } - _ ~ ~ w~~ ~ _ _ .