AgdaPkt 2000-12-11 - Laserfiche WebLink

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?J "A/Ø or acùvities on the Lease Premises; except as to any hazardous wastes. subsWlCeS or materials as defined under federal StAte or local law, regulation or ordinance manufactUred, generated. used. placed, disposed. stored or transponed on the Lease Premises. (h) If the Lessee files a petition or an order for relief is entered against Lessee, under Chapters 7,9,11 or 13 of the Bankruptcy Code (11 use Sect. 101, et seq.) then the trustee or debtor-in-possessioD must elect to assume or reject this Lease within sixty (60) days after filing of the peùtion or appointment of the trUStee. or the Lease shall be deemed to have been rejected. and Lessor shall be entitled to immediate possession of the Lease Premises. No assumption or assignment of this Lease shall be effecùve unless it is in writing and unless the trustee or debtor-in-possession bas cured all defaults under this Lease (monetary and non- monetary) or has provided Lessor with adequate assurances (1) that within ten (10) days from the date of such assumpùon or assigmnem, all monetary defaults under this Lease will be cured; and (2) that within thirty (30) days from the date of su,ch assumption, all non-monetary defaults under this Lease will be cured; and (3) that all provisions of this Lease will be satisfactorily performed in the future. 11. DEFAULT AND REMEDIES (a) Default The occurrence of anyone or more of the following events shall immediately and without further noùce constirote a default or breach of the Lease by Lessee: (1) Lessee's failure to make any payment of rental, royalty, or other consideration as required under this Lease; (2) Lessee's failure to obtain or maintain liability insurance or a surety bond or other security device as required under this Lease; (3) Lessee's vacation or abandonment of the Lease Premises (including the covenant for continuous use as provided for in paragraph 4) during the Lease term; (4) Lessee's failure to obtain and maintain all necessary governmental penniLS or other entitlements; (5) Lessee's failure to comply with all applicable provisions of federal. state or local law. regulation or ordinance dealing with hazardous waste. substances or materials as defined under such law; (6) Lessee's failure to commence to construct and to complete construction of the improvements authorized by this Lease within the time limits specified in this Lease; and/or (7) Lessee's failure to comply with applicable provisions of federal, state or local laws or Page 4 ordinances relating to issues of Health and Safety, or whose purpose is to conserve resources or to protect the enviromnent. (b) Lessee's failure to observe or perform any other term, covenant or condition of this Lease to be observed or performed by the Lessee when such failure sball continue for a period of thirty (30) days after Lessor's giving written notice; however, if the nature of Lessee's default or breach under this paragraph is such that more than thirty (30) days are reasonably required for its cure, then Lessee shall not be deemed to be in default or breach if. Lessee commences such cure witbin such thirty (30) day period and diligently proceeds with such cure to completion. (c) Remedies In the event of a default or breach by Lessee and Lessee's failure to cure such default or breach, Lessor may at any time and with or without notice do anyone or more of the following: (1) Re-enter the Lease Premises, remove all persons and property, and repossess and enjoy such premises; (2) Tenninate this Lease and Lessee's right of possession of the Lease Premises. Such tennination shall be effective upon Lessor's giving written notice and upon receipt of such notice Lessee s""'l1 immediately surrender possession of the I Premises to Lessor; (3) Maintain this Lease in full force and effect and recover any rental, royalty, or other consideration as it becomes due without terminating Lessee's right of possession regardless of whether Lessee shall have abandoned the Lease Premises; and/or (4) Exercise any other right or remedy which Lessor may have at law or equity. 12. RESTORATION OF LEASE PREMISES (a) Upon expiration or sooner termination of this Lease, Lessor upon written notice may take title to any or all improvements, including fills, or Lessor may require Lessee to remove all or any such improvements at its sole expense and risk; or Lessor may itself remove or have removed all or any ponion of such improvements at Lessee's sole expense. Lessee shall deliver to Lessor such documentAtion as may be necessary to convey title to such improvements to Lessor free and clear of any liens. mongages, loans or any other encumbrances. (b) In removing any such improvements Lessee shall restore the Lease Premises as nearly as possible to the condit' existing prior to their installation or construction. (c) All plans for and subsequent removal and restoration Fonn 5115 (Rev. 4/96)