Common use of Default or Breach Clause in Contracts

Default or Breach. (a) It is agreed by and between the parties hereto that; (i) if Tenant shall fail to make any payment of rents or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent payment, or (ii) if Tenant shall fail to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue without being wholly remedied for a period of thirty (30) days after the service of such notice, or in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlord, or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunder. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at law or in equity. The performance of each and every agreement herein contained on the part of Landlord shall be a condition precedent to the right of Landlord to collect rent hereunder or to enforce this Lease against Tenant.

Default or Breach. (a) It is agreed by and between In the parties hereto that; (i) if Tenant shall fail event of any failure of BUSINESS to make pay any payment of rents rental or taxes, assessments, insurance premiums, water ratesother sums when due hereunder, or BUSINESS default in performing any of the other sum herein stipulated and agreed terms, conditions or covenants of THIS AGREEMENT to be paid observed or keptperformed by BUSINESS, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten more than five (105) days after Tenant receives from Landlord written notice of such delinquent paymentdefault shall have been given to BUSINESS (or other length of time if specified herein to the contrary) or, if BUSINESS shall suffer THIS AGREEMENT to be taken under any writ of execution, then OWNER, besides other rights or remedies OWNER may have, shall have the immediate right to terminate THIS AGREEMENT, or (ii) if Tenant shall fail re-enter and attempt to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; thenre-let without terminating THIS AGREEMENT, and remove all persons and personal property from THE PREMISES, and such property may be removed and stored in such casea public warehouse or elsewhere at the cost of and for the account of BUSINESS, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue all without being wholly remedied deemed guilty of trespass or becoming liable for a period of thirty (30) days after the service of such notice, any loss or in the event of a breach other than the payment of money, Tenant damage which may be occasioned thereby. OWNER shall not have commenced the remedying of be required to remove any property, personal or otherwise, whether such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final terminationproperty is OWNER’s or BUSINESS’s, then it shall and may be lawful for Landlordfrom THE PREMISES. If OWNER, without further noticeterminating THIS AGREEMENT, to declare said Term ended, and either: Elects to re-enter and attempts to re-possess the Premiseslet; or Takes possession pursuant to legal proceedings; or Takes possession pursuant to any notice provided by law, and the building and improvements situated thereon, then OWNER may undertake such RENOVATION ACTIVITIES and/or NECESSARY REPAIRS as may be needed in order to re-let THE PREMISES or any part thereofthereof for such term or terms (which may be for a term extending beyond the term of THIS AGREEMENT) and at such rental or rentals and upon such other terms and conditions as OWNER in OWNER’s sole discretion may deem advisable. Upon such re-letting, either with all rentals received by OWNER from such re-letting shall be applied: First, to the payment of any indebtedness other than rent due hereunder from BUSINESS to OWNER, including but not limited to the costs, expenses and legal fees necessary to re-enter THE PREMISES; Second, to the payment of any costs and expenses of such re-letting, including but not limited to brokerage fees and attorney’s fees; Third, to the payment of rent due and unpaid hereunder; and Finally, the residue, if any, shall be held by OWNER and applied to payment of future rent as the same may be due and payable hereunder. If such rentals received from such re-letting during any month be less than that to be paid during that month by BUSINESS hereunder, BUSINESS shall pay any such deficiency to OWNER. Such deficiency shall be calculated and paid monthly. No such re-entry or without process of law, and Tenant does in such event, hereby waive any demand for taking possession of THE PREMISES by OWNER shall be construed as an election on OWNER’s part to terminate THIS AGREEMENT unless a notice of such intention be given to BUSINESS or unless the Premisestermination thereof be decreed by a Court of competent jurisdiction. Notwithstanding any such re-letting without termination, OWNER may at any time thereafter elect to terminate THIS AGREEMENT for such previous breach. Should OWNER at any time terminate THIS AGREEMENT for any breach, in addition to any other remedies OWNER may have, OWNER may recover from BUSINESS all damages OWNER may incur by reasons of such breach, including the cost of recovering THE PREMISES, reasonable attorney’s fees, including the worth, at the time of such termination, of the excess, if any, of the amount of rent and charges equivalent to rent reserved in THIS AGREEMENT for the remainder of the stated term over the then-reasonable rental value of THE PREMISES for the remainder of the stated term, all of which amounts shall be immediately due and payable from BUSINESS to OWNER. In addition to any other remedies OWNER may have at law or equity and/or under THIS AGREEMENT, BUSINESS shall pay upon demand all of OWNER’s legally allowable costs, charges and expenses, including reasonable legal fees, fees of agents and others retained by OWNER, incurred in connection with the recovery of sums due under THIS AGREEMENT, whether any suit be filed or not, or because of the breach of any covenant under THIS AGREEMENT, or for any other relief against BUSINESS. In the event either party shall bring any action against the other party for relief hereunder, the unsuccessful party shall pay the other party’s reasonable attorney’s fees and all Court costs. If BUSINESS shall become bankrupt or file any debtor proceedings, or take or have taken against BUSINESS, in any Court pursuant to any statute either of the United States or of any state, a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of BUSINESS’s property, or, if BUSINESS makes an assignment for the benefit of creditors or petitions for or enters into an arrangement, then and in that event THIS AGREEMENT shall, at the option of OWNER, be canceled and terminated, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination party claiming on behalf of the Term at the election of Landlord, or in BUSINESS shall not have any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessmentsrights whatsoever under THIS AGREEMENT. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunder. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance No waiver of any covenant or agreement herein containedcondition or of the breach of any covenant or condition of THIS AGREEMENT shall be taken to constitute a waiver of any subsequent breach of such covenant or condition nor to justify or authorize the non-observance of any other occasion of the same or of any other covenant or condition hereof, nor shall the acceptance of rent by OWNER, at any time when BUSINESS is in default under such covenant or condition hereof, be construed as a waiver of such default or of OWNER’s right to terminate THIS AGREEMENT on account of such default, nor shall any waiver or indulgence granted by OWNER to BUSINESS be taken as an estoppel against OWNER, it being expressly understood that if, at any time BUSINESS shall be in default in any of its covenants or conditions hereunder, an acceptance by OWNER of rental during the continuance of such default or the failure on the part of OWNER promptly to avail itself of such other rights or remedies as OWNER may have, shall not be construed as a waiver of such default, but OWNER may at any time thereafter, if such default continues, terminate THIS AGREEMENT on account of such default. The rights and remedies given to OWNER by THIS AGREEMENT shall be deemed to be cumulative, and no one of such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent rights and remedies shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant exclusive at law or in equityequity of the rights and remedies which OWNER might otherwise have by virtue of a default under THIS AGREEMENT, and the exercise of one such right or remedy by OWNER shall not impair OWNER’s standing to exercise any other right or remedy. The performance SECTION TWELVE: DESTRUCTION OF THE PREMISES If THE PREMISES should be destroyed by fire, earthquake, Act of each God or the elements during the term hereof, or damage to such an extent that THE PREMISES cannot be repaired within one hundred twenty (120) working days, THIS AGREEMENT, at the BUSINESS’s option shall terminate, and every agreement herein contained on the part of Landlord any prepaid, unearned rental shall be refunded to BUSINESS. If during the first twenty (20) days after such damage or destruction the BUSINESS agrees to continue as a tenant, THIS AGREEMENT shall remain in full force and effect, and OWNER shall, with all reasonable dispatch, proceed to replace THE PREMISES with a premises similar in character, and the rental shall xxxxx for such length of time during the period of replacement that BUSINESS is deprived of the occupation or enjoyment of THE PREMISES. If, however, THE PREMISES are only partially destroyed by any of the above causes and the damage thereto can be repaired within the one hundred twenty (120) working day period, OWNER shall, at OWNER’s option, with all reasonable dispatch, proceed to repair THE PREMISES and place THE PREMISES in substantially the same condition precedent as THE PREMISES were prior to the right damage, and BUSINESS shall pay rent to OWNER for the damaged PREMISES should they be fit for occupancy during the time of Landlord repair. If THE PREMISES are not fit for occupancy during the time of repair, then the rent shall xxxxx during such time period. In the event that OWNER and BUSINESS cannot agree as to collect rent hereunder whether THE PREMISES or to enforce this Lease against Tenanta portion thereof are fit for occupancy, an independent third party, as agreed upon by OWNER and BUSINESS, shall make the said determination. OWNER shall not be responsible for any claim, cause of action, damage, cost or expenses in the event BUSINESS’s business is interrupted, in any manner, if THE PREMISES are damaged or destroyed by fire, earthquake, act of God or the elements, or any other cause.

Default or Breach. The Letter of Credit shall be maintained in effect from the date hereof through the date which is one hundred twenty (a) It is agreed by and between the parties hereto that; (i) if Tenant shall fail to make any payment of rents or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent payment, or (ii) if Tenant shall fail to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue without being wholly remedied for a period of thirty (30120) days after the service of such noticeExpiration Date, or in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession provided that upon Sublessee's surrender of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term Premises at the election of Landlord, or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination expiration of the Term, Sublessor and this Lease Sublessee shall become void and of no further effectendeavor to determine as soon as practicable any amounts owing by Sublessee, and Landlord within five (5) Business Days after payment of such amount and Sublessee's fulfillment of any other obligations to Sublessor, Sublessor shall return to Sublessee the Letter of Credit and any Letter of Credit Proceeds then held by Sublessor (other than those held for application by Sublessor as provided below). Sublessor shall not be required to segregate the Letter of Credit Proceeds from its other funds, and in no event shall Letter of Credit Proceeds or any portion thereof be deemed to be held in trust for Sublessee. No interest shall accrue or be payable to Sublessee with respect to the Letter of Credit Proceeds. Sublessor may hold (but shall not be required to) draw upon the Letter of Credit and retain use the Premises and all buildings and improvements thereon proceeds therefrom (the "Letter of Credit Proceeds") or any portion thereof to cure any Default or Breach under this Sublease or to compensate Sublessor for any damage Sublessor incurs as a result of Sublessee's failure to perform any of its first obligations hereunder, it being understood that any use of the Letter of Credit Proceeds shall not constitute a bar or former estate, subject defense to any mortgage executed pursuant of Sublessor's remedies set forth herein. In such event and upon written notice from Sublessor to Sublessee specifying the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all amount of the past-due rentsLetter of Credit Proceeds so utilized by Sublessor and the particular purpose for which such amount was applied, taxes and assessmentsSublessee shall immediately deliver to Sublessor an amendment letter of Credit or a replacement Letter of Credit in an amount equal to one hundred percent (100%) of the amount specified below. All costs Sublessee's failure to deliver such replacement Letter of Credit to Sublessor within five (including attorneys’ fees5) occasioned by business days of Lessor's notice shall constitute a Breach hereunder. If Sublessee is not in default at the expiration or termination of Tenant shall be an expense of Tenantthis Sublease, and shall be due as rental hereunder. within one hundred twenty (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30120) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid such expiration or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Leasetermination, or (ii) pay such earlier date as provided above, Sublessor shall return to Sublessee the Letter of Credit or the balance of the Letter of Credit Proceeds then held by Sublessor; provided, however, that in no event shall any sum necessary such return be construed as an admission by Sublessor that Sublessee has performed all of its obligations hereunder. Under no circumstances shall Sublessor be required to perform any return the Letter of Credit or Letter of Credit proceeds before receiving written acknowledgment by Lessor that Sublessor has fulfilled all of its Sublessor's obligations of Landlord hereunder, and deduct is completely released from liability under the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at law or in equity. The performance of each and every agreement herein contained on the part of Landlord shall be a condition precedent to the right of Landlord to collect rent hereunder or to enforce this Lease against TenantLease.

Default or Breach. If Lessee (a) It is agreed fails to pay or cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto thatmanner herein provided; or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum when due and provided; or (c) fails to use, maintain, and operate the Premises as herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrequired, or abandon the property; or (iid) if Tenant shall fail to keep and perform defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performedkept or performed by Lessee; then, and in such case, Landlord may serve upon Tenant then City shall give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, the City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building and improvements situated thereonsole property of City. Upon termination, or any part thereofall subleases, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election option of LandlordCity, shall terminate. Such termination shall not be considered a waiver of damages or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunder. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at either party because of such default or breach. Each term and condition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or in equity. The performance , recover all damages proximately resulting from the breach or default, including, but not limited to, the cost of each recovering the Premises, attorneys' fees and every agreement herein contained on all costs or expenses of litigation and the part total balance of Landlord lease payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointment of a condition precedent receiver to take possession of Xxxxxx's assets, Xxxxxx's general assignment for the right benefit of Landlord creditors, Xxxxxx's insolvency, and Xxxxxx's taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, City shall have the option to collect rent hereunder terminate this Lease Agreement or to enforce this Lease against Tenantrequire that Lessee provide additional security by means of a cash security deposit, advance rental payments, or such other action as City deems prudent to protect the Premises and the public fisc.

Default or Breach. If Lessee (a) It is agreed fails to pay or to cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto that; manner herein provided or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum herein stipulated when due and agreed provided or (c) fails to be paid commence or keptto complete the construction, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrepair, restoration, or replacement of the Hangar and any other improvements in and about the Premises within the times and in the manners herein provided or (iid) if Tenant shall fail fails to keep use, maintain, and perform operate the Premises as herein required, or abandons the Premises or (e) defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord kept or performed by Lessee then City may serve upon Tenant give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building sole property of City. Upon termination, all subleases, at the option of City, shall terminate. Such termination shall not waive any remedy available to either party because of such default or breach. Each term and improvements situated thereoncondition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or any part thereofequity, either with recover all damages proximately resulting from the breach or without process default, including, but not limited to, the cost of lawrecovering the Premises, reasonable attorney's fees, and Tenant does in the total balance of payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointments of a receiver to take possession of Lessee’s assets, Lessee’s general assignment for the benefit of creditors, Lessee’s insolvency, and Lessee’s taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, hereby waive any demand for possession City shall have the option to terminate this Lease Agreement or to require Lessee provide additional security by means of the Premisesa cash security deposit, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlordadvance rental payments, or in any such other way, action as City deems prudent to immediately surrender and deliver up protect the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderpublic fisc. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at law or in equity. The performance of each and every agreement herein contained on the part of Landlord shall be a condition precedent to the right of Landlord to collect rent hereunder or to enforce this Lease against Tenant.

Default or Breach. (a) It is agreed by and between Each of the parties hereto that; (i) if Tenant following events shall fail to make any payment of rents constitute a ----------------- default or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions a breach of this Lease by Tenant ("Default"): a. If Tenant fails to pay Landlord any Base Rent when due hereunder; b. If Tenant fails to pay Landlord any Additional Rent within the period specified in paragraph 4.3.1, and such failure shall continue for a period of ten within five (105) days after written notice; c. If Tenant receives from Landlord written notice vacates or abandons the Leased Premises; d. If Tenant files a petition in bankruptcy or insolvency or for reorganization under any bankruptcy act, voluntarily takes advantage of any such delinquent paymentact by answer or otherwise, makes an assignment for the benefit of creditors or becomes insolvent or unable to meet its obligations as they become due; e. If involuntary proceedings under any bankruptcy or insolvency act shall be instituted against Tenant, or (ii) if Tenant a receiver or trustee shall fail to keep and perform any other covenant, condition be appointed for all or agreement herein provided on substantially all of the part property of Tenant to be performed; thenTenant, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default proceedings shall then continue without being wholly remedied for a period of not be dismissed or the receivership or trusteeship vacated within thirty (30) days after the service institution or appointment; or f. If Tenant fails to perform or comply with any other term or condition of this Lease and such noticenonperformance shall continue for a period of three (3) days after notice thereof from Landlord to Tenant; provided, or in however, if the event of a breach other than nonperformance cannot be cured by the payment of money, then Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent 30) days after notice to written notice correct the nonperformance. Notwithstanding any provision of this Lease to the contrary, in the event the bank to be operated on the Leased Premises is taken over by the Comptroller of the currency or other bank supervisory authority, Landlord may terminate the Lease only with the concurrence of the Comptroller or other bank supervisory authority (provided that the Comptroller or other supervisory authority continues to pay all rent and other charges as and when due and complies with all other terms, conditions, covenants, and agreements of this Lease) and any such authority shall not diligently prosecute compliance in any event have the election to final terminationeither continue or terminate the Lease, then it provided that in the event this Lease is terminated, the maximum claim of Landlord for damages or indemnity of injury resulting from the rejection or abandonment of the unexpired Lease shall and may in no event be lawful in an amount exceeding the rent reserved by the Lease, without acceleration for the year next succeeding the date of the surrender of the Leased Premises to Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess or the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process date of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election reentry of Landlord, whichever first occurs, whether before or after the closing of the bank, plus an amount equal to the unpaid rent accrued, without acceleration, up to such date. Lease terminates and obligations cease if Comptroller elects not to continue in existence. If at any time said term shall terminate as aforesaid or in any other way, Tenant hereby agrees to immediately surrender and deliver up the Leased Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, Landlord immediately upon the termination of the Termsuch term, and this Lease if Tenant shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all remain in possession of the past-due rentssame after termination thereof, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense deemed guilty of Tenant, and shall be due as rental hereundera forcible detainer of the Leased Premises under the laws of the State of Colorado. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at law or in equity. The performance of each and every agreement herein contained on the part of Landlord shall be a condition precedent to the right of Landlord to collect rent hereunder or to enforce this Lease against Tenant.

Default or Breach. If Lessee (a) It is agreed fails to pay or cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto thatmanner herein provided; or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum when due and provided; or (c) fails to use, maintain, and operate the Premises as herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrequired, or abandon the property; or (iid) if Tenant shall fail to keep and perform defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performedkept or performed by Lessee; then, and in such case, Landlord may serve upon Tenant then City shall give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, the City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building and improvements situated thereonsole property of City. Upon termination, or any part thereofall subleases, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election option of LandlordCity, shall terminate. Such termination shall not be considered a waiver of damages or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunder. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at either party because of such default or breach. Each term and condition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or in equity. The performance , recover all damages proximately resulting from the breach or default, including, but not limited to, the cost of each recovering the Premises, attorneys' fees and every agreement herein contained on all costs or expenses of litigation and the part total balance of Landlord lease payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointment of a condition precedent receiver to take possession of Lessee's assets, Lessee's general assignment for the right benefit of Landlord creditors, Lessee's insolvency, and Lessee's taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, City shall have the option to collect rent hereunder terminate this Lease Agreement or to enforce this Lease against Tenantrequire that Lessee provide additional security by means of a cash security deposit, advance rental payments, or such other action as City deems prudent to protect the Premises and the public fisc.

Default or Breach. Each of the following events shall constitute a ----------------- default or breach of this lease by Lessee: (a) It is agreed If Lessee, or any successor or assignee of Lessee while in possession, shall file a petition in bankruptcy or insolvency or for reorganization under any bankruptcy act, or shall voluntarily take advantage of any such act by answer or otherwise, shall make an assignment for the benefit of credits. (b) If involuntary proceedings under any bankruptcy law or insolvency act shall be instituted against Lessee, or if a receiver or trustee shall be appointed of all or substantially all of the property of Lessee, and between such proceedings shall not be dismissed or the parties hereto that; receivership or trusteeship vacated within thirty (i30) if Tenant days after the institution or appointment. (c) If Lessee shall fail to pay Lessor any rent or additional rent when the rent shall become due and shall not make the payment within ten (10) days after notice thereof in writing by Lessor to Lessee. (d) If Lessee shall fail to perform or comply with any payment of rents or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions conditions of this Lease lease and such failure if the nonperformance shall continue for a period of ten (10) days after Tenant receives from Landlord written notice thereof by Lessor to Lessee or, if the performance cannot be reasonably had within the ten-day period, Lessee shall not be in good faith have commenced performance within the ten-day period and shall not diligently proceed to completion of such delinquent paymentperformance. (e) If Lessee shall vacate or abandon the demised premises. (f) If this lease or the estate of Lessee hereunder shall be transferred to or shall pass to or devolve on any other person or party, except in the manner herein permitted. (g) If Lessee fails to take possession of the demised premises on the term commencement date, or (ii) if Tenant shall fail to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue without being wholly remedied for a period of within thirty (30) days after notice that the service of such noticedemised premises are available for occupancy, if the term commencement date is not fixed herein or in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlord, or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due deferred as rental hereunderherein provided. (b) It is agreed between the parties that if any default shall be made by Landlord in the performance of any covenant or agreement herein contained, and such default shall continue for thirty (30) days after receipt by Landlord of written notice thereof given by Tenant, then no rent shall be paid or become payable under this Lease or any extension thereof for such time as such default shall continue after the expiration of said thirty (30)-day period, and Tenant, at its option, may (i) declare the Term or any extension thereof ended and vacate the Premises and be relieved from all further obligations under this Lease, or (ii) pay any sum necessary to perform any obligations of Landlord hereunder, and deduct the cost thereof, with interest, from any rents thereafter to come due hereunder, or (iii) exercise any other remedies available to Tenant at law or in equity. The performance of each and every agreement herein contained on the part of Landlord shall be a condition precedent to the right of Landlord to collect rent hereunder or to enforce this Lease against Tenant.