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<br />Santa Ana River Channel <br />EOI-RI552 <br /> <br />the terms, covenants, and conditions ofthe Lease thereafter, nor a waiver of any remedy for the <br />subsequent breach or default of any term, covenant, or condition of the Lease. Any waiver, in order to <br />be effective, must be signed by the party whose right or remedy is being waived. <br /> <br />16. DEFAULT AND REMEDIES (PMGE16.2 N) <br /> <br />A. Events Of Default <br /> <br />The occurrence of anyone or more of the following events shall constitute a default hereunder by <br />TENANT: <br /> <br />1. The abandonment or vacation of the Premises by TENANT. <br /> <br />2. The failure by TENANT to make any payment of rent or any other sum payable hereunder by <br />TENANT, as and when due, where such failure shall continue for a period ofthree (3) days <br />after written notice thereof from DISTRICT to TENANT; provided, however, that any such <br />notice shall be in lieu of, and not in addition to, any notice required under California Code of <br />Civil Procedure Section 1161 et seq. <br /> <br />3. The failure or inability by TENANT to observe or perform any ofthe provisions of this <br />Lease to be observed or performed by TENANT, other than specified in subparagraphs A.l. <br />or A.2. above, where such failure shall continue for a period often (10) days after written <br />notice thereof from DISTRICT to TENANT; provided, however, that any such notice shall <br />be in lieu of, and not in addition to, any notice required under California Code of Civil <br />Procedure Section 1161 et seq.; provided, further, that if the nature of such failure is such <br />that it can be cured by TENANT but that more than ten (10) days are reasonably required for <br />its cure (for any reason other than financial inability), then TENANT shall not be deemed to <br />be in default if TENANT shall commence such cure within said ten (10) days, and thereafter <br />diligently prosecutes such cure to completion. <br /> <br />4. (a) The making by TENANT of any general assignment for the benefit of creditors; <br />(b) a case is commenced by or against TENANT under Chapters 7, 11 or 13 of the <br />Bankruptcy Code, Title 11 of the United States Code as now in force or hereafter <br />amended and if so commenced against TENANT, the same is not dismissed within <br />sixty (60) days of such commencement; <br />(c) the appointment of a trustee or receiver to take possession of substantially all of <br />TENANT'S assets located at the Premises or of TENANT'S interest in this Lease, <br />where such seizure is not discharged within thirty (30) days; or <br />(d) TENANT'S convening of a meeting of its creditors or any class thereof for the purpose <br />of effecting a moratorium upon or composition of its debts. In the event of any such <br />default, neither this Lease nor any interests of TEN ANT in and to the Premises shall <br />become an asset in any of such proceedings and, in any such event and in addition to <br />any and all rights or remedies of the DISTRICT hereunder or by law; provided, it shall <br />be lawful for the DISTRICT to declare the term hereof ended and to re-enter the <br />Premises and take possession thereof and remove all persons therefrom, and TENANT <br />and its creditors (other than DISTRICT) shall have no further claim thereon or <br />hereunder. <br /> <br />17th Street Triangle Lease (07.01.09) Gen. Condo <br /> <br />IV <br />