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<br /> (2) PIOYide the name and complete business organization and 11. DEFAULT AND IU!MBDIES
<br /> operational structure of the proposed assignee, sublessee, (a) Default
<br /> secured third party or other transferee; and the nature of the The occurrence of any one or more of the following events shan
<br /> use of and interest in the Lease Premises proposed by the immediately and without funher notice c:onstitute a default or
<br /> assignee, sublessee, secured third party or other transferee. H breach of the Lease by Lcace:
<br /> the proposed assignee, sublessee or secured third party is a
<br /> general or limited partnership, or a joint venture, pIOYide a (1) Lessee's fanute to make any paymcøt of rcnta~ royalty, or
<br /> copy of the partnership agreement or joint venture agreement, other consideration u required under this Lease;
<br /> as applicable;
<br /> (2) Lessee's failure to obtain or maintain liability insurance or
<br /> (3) PIOYide the terms and conditions of the proposed a surety bond or other security device u required under
<br /> assignment, sublease, or encumbrancing or other transfer¡ this Lease;
<br /> (4) PIOYide audited financial statements for the two most (3) Lessee's vacation or abandonment of the Lease Premises
<br /> recently completed flSC8l years of the proposed assignee, (mcluding the covenant for continuous use u provided for
<br /> sublessee, secured pany or other transferee; and pIOYide pro in paragraph 4) during the Lease term;
<br /> forma financial statements showing the projected income,
<br /> expense and financial condition resulting from use of the Lease (4) Lessee's failure to obtain and maintain aU necessary
<br /> Premises; and governmental permits or other entitlements;
<br /> (5) Provide such additional or supplemental information as (5) Lessee's failure to comply with all applicable provisions of
<br /> Lessor may reasonably request concerning the proposed federal, state or local law, regulation or ordinance dealing
<br /> assignee, sublessee, secured party or other transferee. with hazardous waste, substances or materials as defined
<br /> under such laW;
<br /> Lessor will evaluate proposed assignees, sublessces, secured
<br /> third parties and other transferees and grant approval or (6) Lessee's failure to commence to constnact and to complete
<br /> disapproval according to standards of commercial construction of the imp~ments authorized by this Lease
<br /> reasonableness considering the following factors within the within the time limits specified in thiŠ Lease; and/or
<br /> context of the proposed use: the proposed party's financial
<br /> strength and reliability, their business experience and expertise, (7) Lessee's failure to comply with applicable provisions of
<br /> their personal and business reputation, their managerial and federal, state or local laws or ordinances relating to issues
<br /> operational skills, their proposed use and projected rental, as of Health and Safety, or whose purpose is to CODSeIYe
<br /> well as other relevant factors. resoun:es or to protect the environmenL
<br /> (e) Lessor shall have a reasonable period of time from the receipt (b) Lessee's failure to obseIYe or peñorm any other term, covenant
<br /> of all documents and other information required under this provision or condition of this Lease to be observed or peñormed by the Lessee
<br /> to grant or deny its approval of the proposed party. when such failure shall continue for a period of thirty (30) days after
<br /> Lessor's giving written notice; however, if the nature of Lessee's
<br /> (I) Lessee's mortgage or hypothecation of this Lease, if approved default or breach under this paragraph is such that more than thirty
<br /> by Lessor, shall be subject to terms and conditions found in a (30) days arc reasonably required for its cure, then Lessee shaD not
<br /> separately drafted standard form (Agreement and Consent to be deemed to be in default or breach if Lessee commences such cure
<br /> Encumbrancing of Lease) available from Lessor upon request. within such thirty (30) day period and diligently proceeds with such
<br /> cure to completion.
<br /> (g) Upon the express written assumption of all obligations and
<br /> duties under this Lease by an assignee approved by Lessor, the (e:). Rtmedics
<br /> Lessee may be released from all liability under this Lease arising after In the event of a default or breach by Lessee and Lessee's
<br /> the effective: date of assignment and not associated with Lessee's use, failure to cure such default or breae:h, Lessor may at any time and
<br /> possession or occupation of or activities on the Lease Premises; with or without notice do anyone or more of the following:
<br /> except as to any hazardous wastes, substances or materials as defined
<br /> under federal state or local law, regulation or ordinance (1) Re-enter the Lease Premises, remove: all persons and
<br /> manufactured, generated used, placed disposed, stored or transported propeny, and repossess and enjoy such premises;
<br /> on the Lease Premises.
<br /> (2) Terminate this Lease and Lessee', right of possession of
<br /> (h) If the Lessee files a petition or an order for relief is entered the Lease Premises. Such termination shall be effective
<br /> against Lessee, under Chapters 7,9,11 or 13 of the Bankruptcy Code upon Lessor's giving written notice and upon receipt of
<br /> (11 use Sect. 101, et seq.) then the trustee or debtor-in-possession such notice Lessee shall immediately surrender possession
<br /> must elect to assume or reject this Lease within sixty (60) days after of the Lease Premises to Lessor;
<br /> filing of the petition or appointment of the trustee, or the Lease shall
<br /> be: de:emed to have been rejected, and Lessor shall be entitled to (3) Maintain this Lease in fun force and effect and rcc:over
<br /> immediate possession of the Lease Premises. No assumption or any rental, royalty, or other consideration as it bc:c:omes
<br /> assignment of this Lease shall be effective unless it is in writing and due without terminating Lessee's right of possession
<br /> unless the trustee or debtor-in-possession has cured all defaults under regardless of whether Lessee shan have abandoned the
<br /> this Lease (monetary and non-monetary) or has provided Lessor with Lease Premises; and/or
<br /> adequate assurances (1) that within ten (10) days from the date: of
<br /> such assumption or assignment, all monetary defaults under this (4) Exercise any other right or remedy which Lessor may have
<br /> Lease will be cured; and (2) that within thirty (30) days from the date at law or equity.
<br /> of such assumption, all non-monetary defaults under this Lease will
<br /> be cured; and (3) that all provisions of this Lease will be satisfactorily
<br /> performed in the future. 12. RESroRATION OF LEASB PRBMISES
<br /> Form Sl.lS (Rev. 11/91)
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