HomeMy WebLinkAbout1549 f. IL is further CGVf';:anted ar.~ a~;i~~ed by and bet•ti~;c.~n Lh^
parties heret;o that t1~e riE ht to i;he Le. sor in this Leasc to cc~1.-
lect th~ rent that; r.:ay be due urder the ter~~s of tihis Le~ se b,~
any praceedin~s un~lei~ the saiin, or the r3~ht i;o collect anti? ~.~d~--
tional rent, monc~y, or p~~n?:ents du° un~ier the term~ of this Le~+.:~e
by any proeeec~in~rs uizcler the san::, or the ri~ht p;iv~n Lhe Les~or
to enforce any of th~: terms t~nd provislons of this Lease, sr1111
not in any ~•ray affect the ri~hts of the Lessor L-o declarc~ this
Lease void ai~3 the term hereby enled, a~ herein provided, whvn
de£ault is n;a;~e b~? the Lessee in any of L-he terrns and provisions
hereof.
g. It is further covenanted and a~;reed by ~nd between the
parties hereto th~t in the event of the ter~r.inaLiotl of th3s Lease
at any tirr.~ befor° the expiratior? of the term of years her.^by
creat.ed, for tl~e breach by the Lessee of ai~,v of the covenants
herein contained, then all oP the riEht, estate and interest of
the Lessee in ~nd ttnder this Indenture ~nd in the Demisecl Prem-
ises, and a11 adcl_~_tions and access~ons thereto then situated on
the safd Demised Pre,r.i ses, to~ether with a'! 1 ren~s, issues ~.n3
profits of said premises anrl the improverr~ents thereon, wh~ther
then accrued or to accrue, and all insurance policies an3 all in-
surance n~onies paid or pay~ble thereur.3er, and the i;ren entire ;
undisbursed balance of any buildir.g escro~~r fun1, and the entire £
un3isbursed balance of any thsn ex3stin~ ~oint bank account ~~lhi_ch may-~
have been created under the terms hereof
, and all of them, shall ~
at once pass to ar~3 b~come Lhe property of' i;he Lessar titi*ithout any '
! co;nl~ensation therefor tinto the Lessee, not as a penalty for fori'ei-
~ ture, b~it ns liquictated dar:~a~es to L~ssor because of su~~h defaul_t
g by Lessee and t.he consequent cancetl_~tion of the Lease, each of
~ the parties acknot~rled~;in~ it to te th~ fact; that for breach arxi
~ consequent cancellation of a lon~-~:erir~ lease oi' this characLer
€ the I_.essor tvil'! sust~3n substantial dar~t~ge of such ch?rac~~r as
x to make it most; burc;e:~sot.e and tedious, if not actually ir~?possl-
~ ble, to ascertain th~ a~r.ount th~reof ~•lii;h ma.the~r,~.tical prec~s~o:~.
r Each of the parties, theY•~f'or, have agreed up~n this p.rovision :
~ for liquidated dar~:~~;es in ~}~e int;e~ ests of obvi.atinr; Lltl~~t t:ould ~
~ other~c3 se be burt~en~or~° and d-Ifficult litigatior *o m.aintain or -
5 to defer~d, as the c~se may be; ~t~d this p~ovision far liqui_dat;ed 3
~ dam~~ges has been ta~:~-n into accou?~t by beth pai~ties in fixi r~ ;
s t2~e terrns of ~r~cl the consider•atioii for the cr:a~31~; of this I.~ase. -
s
i
; h. The Lessee pledve~ ~•ritli and assigns unto t;I~e Lessor =
- all of the rent,s, issues and profii;s ~4hich miEtit othel'Z7iSc ~
~ accrue to thP Lessec fer tne use, en~oST~~:ent an;l opera ;i.on of ~
r~ the Demised Prc~r~j.ses, and in coi~n~ct~on ~~~iih suc~, ~1.ed~ilin oi'
- such rE~ilts, the Lessee covenants an3 a~rees with t}~+~~ 1_E:ssar
that if the l.~~sor, upon :lefault of tli~ LE;ssee, el.ecl.-s to flle
sui t i;o enforce c~r cancel ti?~ Ilease arr.~ perfc:ci; the L~ssor' ~
rj_~hL-s h~reuncier, the:n the Lesso:^ r.~ay, as anci11ar3~ to sucti
~ sui t, a.~~ly to any court h~vln~; ~uri sdtction f;h^r~e~f for the
tii~ ~ppoini;r:~nt of 1~~c~e~iver of all arci s3r~aul~ r the Demiseci P1~e-ir~9 -
ises, ar.d all addit.jori5 ar~d acces^ions thereto, a.n~l th~r-~u;~ot:,
~ t is expressl~• covenanted and ~~~,rced t;hat tY,~ CourL ~ha 11
= forthwit:h appo~_nt a f~celvcr i•r1 th tl~e usual pc,:~~i•:; a.~~d ci~?.t;ic~s
- of Rcceivers in ~ilc4 ca~n. , and s~~ch ~~ppointr:,:.~n'.; sl~~-.1.1 r~~ rn.tde
Ly such Court 2s a n}:,.ttc~i~ oi stri.ct r•i ~;ht to th~ Le~sor, at:~I
~R t•~iL}~out r•e~ex°E:r~,~e to i,h~ aa~•quacy or in~.deq;~~~r~ of thr' V~9~~ze
of th° pl~opnrt;y ~•:li'~ c%~ is ~v~~~iec: i.o t1~e I:~~r.d?~rd's ? i~n, or t~~
- t.}1P sc>J_ver.e~- ctr in~olvency of the I'~JJC~, a?r~ 1:i i;hL~~i.
- to t};e con:~~:i::sicn of ;:ast:,.
- Casts ~:r:~i ~.t-•~o;•;-.~,~.r s r~ e~ Iti ar,•r ~~i•ocecd3?"tF, ~.rtsi_;~,; t~~
r'C~'1_: C}ri O° ~'.ri c:rl'.:~"~~i 1~~i=1 )_~'T~= O~~riC ~1':;: C~~? tC ~CI'f'C~_'I:1 c,t"i~~ of -if.~ Ci:l•-
= ti e:: ~i~ci o::~]_i ~ a;,~;onC ~~:it•: ~2Lnl_ t~ i;tir•:.~ ~~;~ovi~~~n:, li^i~cof, o.~ b;,~ r~::.:.~
of 4n allen^~~ bi~~::c;: of un;~ a!' ~;~~r. tc1~~~,:; a.i~•?/vr cor:iit=i~r-:s or: cc,-,,:,~_
l1c'di]~~S Ut' ~,~1'J. i T!'^Sf: s C~T' j.1V I''.^..%":C)I"! C`~' c::ly O~.E.'f~:?Lti~.t. i 11 i,~:E: j~;~."'•f'`•.; C:" 'r~':~;
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