|
EX III BIT "It"
<br />REMEDIES
<br />Reme Iles for Events or Default
<br />1.1. Landlord's Rieht To Terminnte Unon'renant Default. In the event of any Event of Default by Tenant as provided in Section
<br />15,1 of the Lease, Landlord shall have the right to terminate this Lease and recover possession of the Premises by giving written notice to Tenant of
<br />Landlord's election to tenninate this Lease, in which event Landlord shall be entitled to receive from Tenant: (a) the worth at the time of award or
<br />any unpaid Rent which had been earned at the time of such termination; plus (b) the worth at the time of award of the amount by which the unpaid
<br />Rent which would have been earned after termination until the time oraward exceeds the amount of such rental loss Tenant proves could have been
<br />reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of
<br />award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate
<br />Landlord for all the detriment proximately caused by 'tenant's failure to perform its obligations under this Lease or which in the ordinary course of
<br />things would be likely to result therefrom; and (e) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be
<br />permitted from time to time by applicable law. As used in clauses (a) and (b) above, "worth at the time of award" shall be computed by allowing
<br />interest at the then highest lawful contract rate of interest. As used in clause (c) above, "worth at the time of award" shall be computed by
<br />discounting such amount at the Interest Rate.
<br />1.2 Landlord's Rieht To Continue Lease Upon Tenant Default. In the event of an Event of Default of this Lease and
<br />abandonment of the Premises by Tenant, if Landlord does not elect to terminate this Lease as provided in Section 1 I of this Exhibit "It" Landlord
<br />may from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease. Without limiting the foregoing;
<br />Landlord has (he remedy described in California Civil Code Section 19514 (Landlord may continue this Lease in effect after Tenant's breach and
<br />abandonment and recover Rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations).
<br />1.3 Right of Landlord to Perform. All covenants and agreements to be performed by Tenant under this Lease shall be performed
<br />by Tenant at Tenant's sole cost and expense. If Tenant shall fail to pay any sum of money, other than Base Rent, required to be paid by it hereunder
<br />or shall fail to perform any other act on its pnrt to be performed hereunder, (hen, in addition to and without prejudice to any osier light or remedy of
<br />Landlord, Landlord may cure the same at the expense of Tenant (a) immediately and without notice in the case: (1) of emergency, (ii) where such
<br />default unreasonably interferes with any other tenant in the Project, (iv) a failure to satisfy or otherwise discharge any Encumbrance, (iv) where such
<br />default will result in the violation of Law or the cancellation of any insurance policy maintained by landlord, or (v) any Failure of Tenant to perform
<br />any of its obligations under Section 3 3 1 and Section 10.5 of this Lease above and (ii) in any other case if such default continues for ten (10) days
<br />from the receipt by 'Tenant of notice of such default from landlord. Any sums so paid by Landlord and all incidental costs plus Lmrdlord's
<br />reasonable administration fee thereon, together with interest thereon at the Default Rate from die date of such payment, shall be payable to Landlord
<br />as Additional Rent on demand, and Landlord shall have the same rights and remedies in the event of nonpayment as in the case of default by Tenant
<br />in the payment of Rent. This Section 1.3 of this Exhibit "IT' shall survive the expiration or termination of this Lease.
<br />1.4 Late Payment. If two (2) or more Rent Delinquencies shall occur in any twelve (12) month period, Landlord may, without
<br />prejudice to any other rights or remedies available to it, upon written notice to Tenant: (a) require all remaining monthly installments of Rent to be
<br />paid three (3) months in advance and/or (b) require Tenant to increase the Security Deposit (if any) by an amount equal to one month's Rent.
<br />1.5. Subleases of'renant. Whether or not Landlord elects to terminate this Lease on account of an Event of Default, Landlord shall
<br />have the right to either: (a) terminate any and all subleases, licenses, concessions or other consensual Arangements entered into by Tenant that affect
<br />die Premises or (b) in its sole discretion, elect to succeed to Tenant's interest in such subleases, licenses, concessions or arrangements (in which case,
<br />as of the date of such election, Tenant shall have no further right to or interest in the real or other consideration receivable thereunder).
<br />2. Eri'nrts to Relet. No re-entry or taking of possession of the Premises by Landlord following an Event oFDehrult shall be construed as an
<br />election to lei minnte this Lease unless a written notice of such election shall be given to Tenant or unless the termination thereof be decreed by a
<br />court of competent jurisdiction, and Tenant's right to possession shall not be deemed to have been to ilimted by efforts of Landlord to role[ the
<br />Premises, by its acts of maintenance or preservation with respect to the Premises, or by appointment of a receiver to protect Landlord's interests
<br />under the Lease. The Foregoing enumeration is not exhaustive, but merely illustrative of acts which may be perfumed by Landlord without
<br />terminating Tenant's right to possession. Notwitlhstanding any retelling of die Premises following any Event of Default without termination of this
<br />Lease by Landlord, Landlord may, At any time after such reletting, elect to terminate this Lease for any Event of Default. To the fullest extent
<br />permitted by Law, the proceeds of any reletting of the Premises shall be applied: (a) first, to pay to Landlord all costs and expenses of such reletting
<br />(including, without limitation, costs and expenses or retaking or repossessing the Premises, removing persons and property therellonh, securing new
<br />tenants, including expenses for redecoration, alterations and other costs in connection with preparing the Premises for the new tenant, and if Landlord
<br />shall maintain and operate the Premises, [he costs thercol) and receivers' Fees incurred in connection with the Appointment of and performance by n
<br />receiver to protect the Premises and Lndiord's interest under this Lease and any necessary or reasonable alterations; (b) second, to the payment or
<br />Any indebtedness orTenant to Landlord other than Rent due and unpaid hereunder; (c) third, to the payment or Rent due and unpaid hereunder; and
<br />(d) the residue, if any, shall be held by Landlord And applied in payment cradles, or future obligations of Tenant to Landlord usthe same may become
<br />due laid payable, rod Tenant shall not be entitled to receive any portion Of Such revenue. 'This Section 3 of this Exhibit "It" shall survive tide
<br />expiration or terminntion orillis Lease,
<br />3. Cumulative Remedies. 'Tile specific remedies to which Landlord may resort under the terms OF this Lease are cunudative and use not
<br />intended to be exclusive orally other remedies or menus orredress to which it may be lmfully entitled in case of any breach or threatened breach by
<br />T'enot Oranv provisions of this Lease. In addition to the other remedies provided in this Lease. Landlord shall be entitled to a restraint by injunction
<br />orthe violation or utcnpted or threatened violation ofany of the covenants. conditions er provisions or this Lease or to a decree compelling speeitic
<br />Performance orally such covenants. conditions or provisions. In addition, upon the occurrence of un Event of Default by Tenant, if the Premises or
<br />any portion thereof are sublet, landlord, in Addition and without prejudice to any other remedies herein provided or provided by Low, may, At its
<br />TO IVC/rle C'entrr Dr— Cin• nf5'rmm; Inn Lercrr -1. Exhibit I i
<br />
|