Common use of CANCELLATION BY THE BOARD Clause in Contracts

CANCELLATION BY THE BOARD. This lease shall be subject to cancellation by the BOARD as follows: A. When LESSEE is in default of payment of rent. B. When LESSEE is in default on performance of any other covenant or condition required by this agreement for a period of sixty (60) days after written notice of the default. In the event of cancellation, XXXXXX shall immediately surrender possession of the LEASED LAND and any improvements thereon and shall execute any instruments necessary to record the termination of this agreement. The right to obtain possession of the LEASED LAND and to cancel the Agreement as provided hereinabove shall not limit the BOARD’S right to obtain specific performance or to pursue any other remedy provided for by law or this Agreement. The BOARD’S right in the event of default shall be cumulative, subject only to such election of alternatives as the law may require. In the event of LESSEE’S default, LESSEE shall hold the BOARD harmless from and shall pay all costs and expenses, including a reasonable attorney’s fee, associated with removal of liens and encumbrances upon Park County/City of Xxxxxxxxxx title not caused by any act or omission of the BOARD. This obligation shall survive beyond the termination of LESSEE’S rights under this agreement and shall continue to bind LESSEE in the event of default. Upon termination or cancellation of this lease for any reason, LESSEE shall have ninety (90) days within which to remove property and improvements from the LEASED LAND. XXXXXX shall return the LEASED LAND to the condition in which it was at the commencement of this lease. In the event LESSEE does not remove property and improvements within ninety (90) days, title shall automatically vest in the BOARD. The BOARD shall have the right to retain the property and improvements and shall have a claim against LESSEE for the cost and expenses incurred in doing so. This condition shall survive the terms of the lease.

CANCELLATION BY THE BOARD. This lease shall be subject to cancellation by the BOARD as follows: A. When LESSEE is in default of payment of rent.; or B. When LESSEE is in default on performance of any other covenant or condition required by this agreement for a period of sixty (60) days after written notice of the default. In the event of cancellation, XXXXXX shall immediately surrender possession of the LEASED LAND AREA and any improvements thereon and shall execute any instruments necessary to record the termination of this agreement. The right to obtain possession of the LEASED LAND AREA and to cancel the Agreement as provided hereinabove shall not limit the BOARD’S right to obtain specific performance or to pursue any other remedy provided for by law or this Agreement. The BOARD’S right in the event of default shall be cumulative, subject only to such election of alternatives as the law may require. In the event of LESSEE’S default, LESSEE shall hold the BOARD harmless from and shall pay all costs and expenses, including a reasonable attorney’s fee, associated with removal of liens and encumbrances upon Park County/City of Xxxxxxxxxx title not caused by any act or omission of the BOARD. This obligation shall survive beyond the termination of LESSEE’S rights under this agreement and shall continue to bind LESSEE in the event of default. Upon termination or cancellation of this lease for any reason, LESSEE shall have ninety (90) days within which to remove property and improvements from the LEASED LANDAREA. XXXXXX shall return the LEASED LAND AREA to the condition in which it was at the commencement of this lease. In the event LESSEE does not remove property and improvements within ninety (90) days, title shall automatically vest in the BOARD. The BOARD shall have the right to retain the property and improvements and shall have a claim against LESSEE for the cost and expenses incurred in doing so. This condition shall survive the terms of the lease.

CANCELLATION BY THE BOARD. This lease shall be subject to cancellation by the BOARD as follows: A. When LESSEE is in default of payment of rent.; or B. When LESSEE is in default on performance of any other covenant or condition required by this bythis agreement for a period of sixty (60) days after written notice of the default. In the event of cancellation, XXXXXX shall immediately surrender possession of the LEASED LAND AREA and any improvements thereon and shall execute any instruments necessary to record the termination of this agreement. The right to obtain possession of the LEASED LAND AREA and to cancel the Agreement as provided hereinabove shall not limit the BOARD’S right to obtain specific performance or to pursue any other remedy provided for by law or this Agreement. The BOARD’S right in the event of default shall be cumulative, subject only to such election of alternatives as the law may require. In the event of LESSEE’S default, LESSEE shall hold the BOARD harmless from and shall pay all costs and expenses, including a reasonable attorney’s fee, associated with removal of liens and encumbrances upon Park County/City of Xxxxxxxxxx Livingston title not caused by any act or omission of the BOARD. This obligation shall survive beyond the termination of LESSEE’S rights under this agreement and shall continue to bind LESSEE in the event of default. Upon termination or cancellation of this lease for any reason, LESSEE shall have ninety (90) days within which to remove property and improvements from the LEASED LANDAREA. XXXXXX shall return the LEASED LAND AREA to the condition in which it was at the commencement of this lease. In the event LESSEE does not remove property and improvements within ninety (90) days, title shall automatically vest in the BOARD. The BOARD shall have the right to retain the property and improvements and shall have a claim against LESSEE for the cost and expenses incurred in doing so. This condition shall survive the terms of the lease.