EXPIRATION OR EARLIER TERMINATION OF THIS
LEASE AND IMMEDIATELY REPAIR ANY DAMAGE TO EITHER OR BOTH OF THE PROPERTY AND
THE PREMISES CAUSED BY, OR RESULTING FROM, SUCH REMOVAL.
4.4.
SECURITY/DAMAGE DEPOSIT.
SIMULTANEOUSLY WITH THE EXECUTION AND
DELIVERY OF THIS LEASE, TENANT SHALL DEPOSIT WITH LANDLORD OR AGENT THE SUM SET
FORTH IN SECTION 1.10 ABOVE, IN CASH (THE "SECURITY"), REPRESENTING SECURITY FOR
THE PERFORMANCE BY TENANT OF THE COVENANTS AND OBLIGATIONS HEREUNDER, THE AMOUNT
OF WHICH SECURITY WAS DETERMINED BY ADDING THE LAST INSTALLMENTS OF MONTHLY BASE
AND ADDITIONAL RENT.
THE SECURITY SHALL BE HELD BY LANDLORD OR AGENT, WITHOUT
INTEREST, IN FAVOR OF TENANT; PROVIDED, HOWEVER, THAT NO TRUST RELATIONSHIP
SHALL BE DEEMED CREATED THEREBY AND THE SECURITY MAY BE COMMINGLED WITH OTHER
ASSETS OF LANDLORD.
IF TENANT DEFAULTS IN THE PERFORMANCE OF ANY OF ITS
COVENANTS HEREUNDER, LANDLORD OR AGENT MAY, WITHOUT NOTICE TO TENANT, APPLY ALL
OR ANY PART OF THE SECURITY, TO THE EXTENT REQUIRED FOR THE PAYMENT OF ANY RENT
OR OTHER SUMS DUE FROM TENANT HEREUNDER, IN ADDITION TO ANY OTHER REMEDIES
AVAILABLE TO LANDLORD.
IN THE EVENT THE SECURITY IS SO APPLIED, TENANT SHALL,
UPON DEMAND, IMMEDIATELY DEPOSIT WITH LANDLORD OR AGENT A SUM EQUAL TO THE
AMOUNT SO USED.
IF TENANT FULLY AND FAITHFULLY COMPLIES WITH ALL THE COVENANTS
AND OBLIGATIONS HEREUNDER, THE SECURITY (OR ANY BALANCE THEREOF) SHALL BE
RETURNED TO TENANT WITHIN 30 DAYS AFTER THE LAST TO OCCUR OF (I) THE DATE THE
TERM EXPIRES OR TERMINATES OR (II) DELIVERY TO LANDLORD OF POSSESSION OF THE
PREMISES; PROVIDED, HOWEVER, THAT THE SECURITY SHALL BE RETURNED ON SUCH EARLIER
DATE AS MAY BE REQUIRED UNDER THEN APPLICABLE LAW IN THE EVENT THAT THE
FOLLOWING WAIVER IS NOT ENFORCEABLE UNDER THEN APPLICABLE LAW; PROVIDED,
FURTHER, HOWEVER, THAT TENANT, TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE
LAW HEREBY WAIVES TENANT'S RIGHTS AND REMEDIES UNDER SECTIONS 93.04 THROUGH
93.011 OF THE TEXAS PROPERTY CODE, AS SAME MAY FROM TIME TO TIME BE AMENDED, AND
IN ANY EVENT TENANT AGREES THAT LANDLORD MAY DEDUCT FROM THE SECURITY DEPOSIT,
IF SAME IS SUBJECT TO SUCH RIGHTS AND REMEDIES, ALL DAMAGES THAT LANDLORD HAS
SUFFERED OR THAT LANDLORD REASONABLY ESTIMATES THAT IT WILL SUFFER AS A RESULT
OF ANY BREACH OF THIS LEASE. LANDLORD MAY DELIVER THE SECURITY TO ANY PURCHASER
OF LANDLORD'S INTEREST IN THE PREMISES [OR ANY SUCCESSOR LANDLORD (DEFINED
BELOW), IF APPLICABLE], AND THEREUPON LANDLORD AND AGENT SHALL BE DISCHARGED
FROM ANY FURTHER LIABILITY WITH RESPECT TO THE SECURITY.
5.
CONDITION AND DELIVERY OF PREMISES.
5.1.
CONDITION OF PREMISES.
TENANT AGREES THAT TENANT IS FAMILIAR WITH
THE CONDITION OF BOTH THE PREMISES AND THE PROPERTY, AND TENANT HEREBY ACCEPTS
THE FOREGOING ON AN "AS-IS," "WHERE-IS" BASIS.
TENANT ACKNOWLEDGES THAT NEITHER
LANDLORD NOR AGENT, NOR ANY REPRESENTATIVE OF LANDLORD, HAS MADE ANY
REPRESENTATION AS TO THE CONDITION OF THE FOREGOING OR THE SUITABILITY OF THE
FOREGOING FOR TENANT'S INTENDED USE.
TENANT REPRESENTS AND WARRANTS THAT TENANT
HAS MADE ITS OWN INSPECTION OF THE