Common use of Remedies of Owner Clause in Contracts

Remedies of Owner. In the case of any default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised remises for the same period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof, shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the reletting.

Remedies of Owner. In A. If an Event of Default shall occur and this Lease and the Term shall expire and come to an end as provided in Article 14 hereof, or by or under any summary proceeding or any other action or proceeding by Owner against Tenant or any person claiming by, through or under Tenant, or if Owner shall re-enter the Premises as provided in Article 14, or by or under any summary proceeding or any other action or proceeding, respectively, then, in any of said events: (1) Tenant shall pay to Owner all Fixed Rent, Additional Rent and other charges payable under this Lease by Tenant to Owner to the date upon which this Lease and the Term shall have expired or have been terminated and come to an end or the date of re-entry upon the Premises by Owner, as the case may be; (2) Owner shall be entitled to retain all monies, if any, paid by Tenant to Owner, whether as advanced Rent, security deposit or otherwise; but such monies shall be credited by Owner against any damages payable by Tenant to Owner; (3) Tenant also shall be liable for and shall pay to Owner as liquidated damages, any deficiency (the “Deficiency”) between the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of any default, the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of rents collected under any reletting of all or part of the Premises for any part of such period, after first deducting from the rents actually collected on account under any such reletting all of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect TenantOwner’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with the termination of this Lease, and Owner’s re-lettingentry upon the Premises and in connection with such reletting, such as legal expensesincluding, without limitation, all repossession costs, brokerage commissions, reasonable attorneys’ fees, brokeragecourt costs and disbursements, advertising alteration costs and for keeping the demised premises in good order or for other expenses of preparing the same Premises for re-letting. Any such liquidated damages reletting and the amount of rent concessions, construction allowance and the like granted in connection with such reletting (collectively, the “Default Expenses”); it being agreed and understood by Tenant that any such Deficiency shall be paid in monthly installments by Tenant on the rent day days specified in this lease Lease for payment of installments of Fixed Rent, and any that Owner shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit brought to collect the amount of the deficiency Deficiency for any month shall not prejudice in any way the rights of Owner Owner’s right to collect the deficiency Deficiency for any subsequent month by a similar proceeding. ; and (4) whether or not Owner shall have collected any monthly Deficiencies as aforesaid, Owner shall be entitled to recover from Tenant, and Tenant shall pay to Owner, on demand, as Additional Rent in putting lieu of any further Deficiencies (other than the demised premises Default Expenses), as and for liquidated and agreed final damages and not as penalty, a sum equal to the amount by which the sum of the Rent reserved in good order or preparing this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry) exceeds the then fair and reasonable rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in value of the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary Premises for the purpose same period, discounted to the then present value of re-letting such sum at the demised premisesrate of four percent (4%), and less the making aggregate amount of Deficiencies theretofore collected by Owner pursuant to the provisions of subdivision (3) above, for the same period; it being agreed and understood by Tenant that if before presentation of proof of such alterationsliquidated damages to any court, repairscommission or tribunal, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premisesPremises, or any part thereof, shall have been relet in a bona-fide arm’s length transaction by Owner for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be fair and reasonable rental value for the part of the whole of the Premises so relet during the term of the reletting. (1) Notwithstanding the foregoing provisions of this Article 15, in the event that Tenant is, at any time, in arrears in the demised premises are re-letpayment of Rent, Owner shall be entitled, without prior notice to Tenant and irrespective of Tenant’s intention, to apply Tenant’s payment of Rent for failure any rental period to collect the rent thereof under such re-letting, and in no event earliest unpaid Rent. This provision shall Tenant be entitled apply even to receive any excess, if any, payments of such net rents collected over the sums payable Rent made by Tenant subsequent to Owner hereunder. the expiration of the Term so long as there remains, at the time of the expiration of the Term, arrears outstanding by Tenant. (2) In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease Lease of any particular remedy, shall not preclude Owner from any other remedy, in law law, in equity or otherwise. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event that Tenant has been evicted or dispossessed for any cause, or in equitythe event that Owner obtains possession of the Premises by reason of the violation by Tenant of any of the covenants and conditions of this Lease or otherwise. Whether Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Rent reserved in this Lease. Nothing contained in Article 14 or this Article 15 shall be deemed to limit or preclude the recovery by Owner from Tenant of the maximum amount allowed to be obtained as damages by any statute or rule of law, or of any sums or damages to which Owner may be entitled in addition to the damages set forth in this Article 15. (1) If an Event of Default shall occur hereunder, then, in addition to and not in limitation of Owner’s other rights and remedies hereunder, Owner may immediately or at any time thereafter, and without notice to Tenant, perform the obligation(s) of Tenant hereunder which is the subject of such Event of Default. (2) If Owner, in connection therewith or in connection with the occurrence of any Event of Default hereunder by Tenant makes any expenditures or incurs any obligations for the payment of money, including but not limited to attorneys’ fees and court costs, in instituting, prosecuting or defending any actions or proceeding, then Tenant shall reimburse Owner for such sums so paid or obligations incurred with interest and costs. (3) The foregoing expenses incurred by reason of Tenant’s Event of Default shall be deemed to be Additional Rent hereunder and shall be paid by Tenant to Owner within five (5) days of rendition of any bxxx or statement to Tenant therefor, with interest thereon at the Interest Rate from the date such expenses were incurred. If the Term shall have been terminated or if Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds entered the then fair and reasonable rental value of the demised remises for the same period, both discounted to present worth Premises at the rate time of eight (8%) percent per annum. Ifmaking of such expenditures or incurring of such obligations, before presentation of proof such liquidated sums shall be deemed Default Expenses and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof, shall have been relet be recoverable by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the relettingas damages.

Remedies of Owner. In Upon the case determination by Owner that there has been the occurrence of an Event of Default, and following the expiration of any defaultapplicable grace or cure period, re-entryOwner may if it so elects, expiration and/or dispossession by summary proceedings without any notice or otherwisedemand to Monroe (or to any other Person) whatsoever (which notice or demand is expressly waived, except to the extent otherwise specifically provided herein or in the other Transaction Documents), exercise any or all (or none) of the following rights and remedies (all of which rights and remedies shall be cumulative) as Owner, in its sole discretion, may deem necessary or appropriate: (a) Declare immediately due and owing all outstanding sums or other obligations due to Owner hereunder or under any of the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, other Transaction Documents. (b) Owner may relet the premises Exercise all or any part of its rights or parts remedies granted herein, or in any of the other Transaction Documents (including, but not limited to the right to set off any or all of the obligations of Monroe against any or all of the property of Monroe or any guarantor or indemnitor in the possession or control of Owner) or under applicable law, or which it may otherwise have, against Monroe or any guarantor or indemnitor or otherwise. (c) Enter upon the Property and take possession thereof, together with the Improvements in the course of construction or completed and all materials, supplies and construction facilities and appliances located thereon, and proceed either in Owner's name or in the name of Owner or otherwiseMonroe as the attorney-in-fact of Monroe (which authority is coupled with an interest and is irrevocable by Monroe), for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur shall elect, to complete the Improvements at the cost and expense of Monroe. If requested by Owner, Monroe shall immediately assign to Owner, in writing, its rights under any contract or agreement with any architect, engineer, contractor, supplier, consultant or representative that Developer and/or Monroe has entered into in connection with re-lettingthe Property or the Project; provided, however, Owner shall have no obligation accept any such assignment or assume any of Monroe's obligations under any such contracts. Monroe shall reimburse Owner, upon demand, all costs and expenses incurred by Owner in connection with its exercise of the foregoing rights, including, without limitation, reasonable attorneys' fees and expenses. If Owner elects to complete or cause the Improvements to be so completed, it may do so according to the terms of the Third Party Agreements (including the Plans and Specifications) or according to such changes, alterations or modifications in and to the Third Party Agreements and the Plans and Specifications as legal expensesOwner shall deem expedient or necessary, attorneys’ feesand Owner may enforce or cancel all or any of the Third Party Agreements and any and all other contracts theretofore entered into or make other contracts which, brokeragein Owner's opinion, advertising may seem advisable, and for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages Monroe shall be paid liable, under this Agreement or any other Transaction Document, to pay Owner upon demand any amount or amounts expended by Owner or its representatives for such performance, together with any costs, charges or expenses incident thereto or otherwise incurred or expended by Owner or its representatives on behalf of Monroe in monthly installments by Tenant on connection with the rent day specified in this lease Improvements, and any suit brought the amounts so expended shall be immediately due and payable to collect Owner and shall bear interest thereon at the amount of Overdue Rate; provided, however, that the deficiency for any month shall changes, alterations or modifications to the Project do not prejudice in any way cause delay or additional expense to complete the Project. Monroe acknowledges that all rights privileges and remedies of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental under this Section 7.01(c) may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole 's option, be entitled exercised by Owner without the assumption by such party of any liabilities, obligations or responsibilities. (d) Decline to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal disburse any additional Fundings to the amount by which the fixed annual rental and additional rent, payable hereunder or for the period which otherwise would have constituted the unexpired portion benefit of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised remises for the same period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, Monroe or any part thereof, shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the relettingother Person.

Remedies of Owner. In the case of any default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised remises premises for the same period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof, shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the reletting.

Remedies of Owner. In the case of any default, re-entry, expiration and/or dispossession dispossess by summary proceedings or otherwise, (a) the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession dispossess and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s 's option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s 's covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s 's liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ ' fees, brokerage, advertising and for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s 's option, make such reasonable alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s 's sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner agrees to mitigate damages. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach default by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised remises for the same period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof, shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the reletting.

Remedies of Owner. In Upon default by the Tenant that has not been timely cured, then at the option of the Owner, Owner may: (i) proceed to cure such default without terminating this Lease and demand reimbursement from the Tenant of any amounts expended by the Owner in curing such default (to include an administrative fee equal to four percent (4.0%) of the amount expended by Owner, along with interest at the rate of twelve percent (12.0%) per annum (the “Default Rate”) from the date expended until repaid. (ii) bring suit from time to time for the collection of the Rent or other amounts for which Tenant may be in default, or for the performance of any other covenant or agreement of Tenant hereunder, all without entering into possession of the Premises or terminating this Lease; (iii) in the case of a monetary default or a material non-monetary default by Tenant that is not cured within the applicable cure period provided hereunder, re-enter the Premises with process of law and take possession thereof, without thereby terminating this Lease, and thereupon Owner may expel all persons and remove all property therefrom, without becoming liable therefor, and relet the Premises and receive the rent therefrom. In the event that the Owner repossesses the Premises hereunder, Owner may recover from Tenant as damages: (i) all of Owner’s reasonable out-of-pocket expenses incurred in obtaining possession of the Premises and reletting the Premises, including reasonable attorney’s fees, outside brokerage commissions, inducements, concessions, the cost to prepare the Premises for reletting, and repairs which are Tenant’s obligations hereunder, and (ii) the difference between Rent thereafter becoming due under this Lease, and the proceeds from reletting the Premises, such deficiency to be computed and paid monthly at the times that Base Rent is payable hereunder. In such event, Owner shall use commercially reasonable efforts to mitigate its damages; provided, however, such obligation to mitigate shall not require Owner to favor the Premises over other premises available for lease from Owner, and the Premises and such other Owner premises may be marketed on an equal footing. The commencement and prosecution of any defaultaction by Owner or the appointment of a receiver, or any execution of any decree obtained in any action to recover possession of the Premises, or any re-entry, expiration and/or dispossession shall not be construed as an election to terminate this Lease unless Owner shall, in writing, expressly exercise its election to terminate this Lease, and, unless this Lease be expressly terminated, such re-entry or entry by Owner, whether had or taken under summary proceedings or otherwise, shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the Term of this Lease; or (iv) terminate this Lease, re-enter the Premises and take possession thereof. In the event Owner shall elect to terminate this Lease, all rights and obligations of Tenant, and of any permitted successors or assigns, shall cease and terminate, except that Owner shall have and retain full right to xxx for and collect all Rent of which Tenant shall then be in default and all damages to Owner by reason of any such breach, including all Rent amounts then unpaid and all Rent and other amounts coming due during the balance of the Term, and all amounts expended by Owner to relet all or part of the Premises (less any amounts received by Owner from reletting of all or part of the Premises), in each case together with interest thereon accruing at the Default Rate. Tenant shall surrender and deliver up the Premises to Owner and upon any default by 18247-0147" "" Tenant in so doing, Owner shall have the right to recover possession by summary proceedings or otherwise, (a) the rent, . Tenant hereby expressly waives any and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the all rights of Owner to collect the deficiency for redemption granted by or under any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order present or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or future laws in the event that of Owner’s obtaining possession of the demised premises are re-let, for failure to collect Premises by reason of the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach violation by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention conditions in this lease of any particular remedy, shall not preclude Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised remises for the same period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof, shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the demised premises so relet during the term of the relettingcontained.