TENANT SHALL
VACATE OR ABANDON THE PREMISES, EXCEPT THAT, MERE VACATION AS MAY BE NECESSARY
TO FACILITATE THE RE-OCCUPANCY OF THE PREMISES FOR A PERMITTED USE PURSUANT TO
AN ASSIGNMENT OR SUBLETTING AUTHORIZED UNDER THE TERMS OF THIS LEASE, OR CAUSED
BY ANY CASUALTY OR CONDEMNATION, OR AS ORDERED BY ANY LEGAL AUTHORITY SHALL NOT
CONSTITUTE AN EVENT OF DEFAULT HEREUNDER.
(3)
THE FILING OF ANY PETITION OR THE
COMMENCEMENT OF ANY CASE OR PROCEEDING BY TENANT UNDER ANY PROVISION OR CHAPTER
OF THE FEDERAL BANKRUPTCY ACT, THE FEDERAL BANKRUPTCY CODE, OR ANY OTHER FEDERAL
OR STATE LAW RELATING TO INSOLVENCY, BANKRUPTCY, OR REORGANIZATION OR THE
ADJUDICATION THAT TENANT IS INSOLVENT OR BANKRUPT OR THE ENTRY OF AN ORDER FOR
RELIEF UNDER THE FEDERAL BANKRUPTCY CODE WITH RESPECT TO TENANT.
(4)
THE FILING OF ANY PETITION OR THE
COMMENCEMENT OF ANY CASE OR PROCEEDING DESCRIBED IN SUBPARAGRAPH (3) ABOVE
AGAINST TENANT, UNLESS SUCH PETITION AND ALL PROCEEDINGS INITIATED THEREBY ARE
DISMISSED WITHIN SIXTY (60) DAYS FROM THE DATE OF SUCH FILING; THE FILING OF AN
ANSWER BY TENANT ADMITTING THE ALLEGATIONS OF ANY SUCH PETITION; THE APPOINTMENT
OF OR TAKING POSSESSION BY A CUSTODIAN, TRUSTEE OR RECEIVER FOR ALL OR ANY
ASSETS OF TENANT, UNLESS SUCH APPOINTMENT IS VACATED OR DISMISSED WITHIN SIXTY
(60) DAYS FROM THE DATE OF SUCH APPOINTMENT.
(5)
THE INSOLVENCY OF TENANT OR THE EXECUTION
BY TENANT OF AN ASSIGNMENT FOR THE BENEFIT OF CREDITORS; THE CONVENING BY TENANT
OF A MEETING OF ITS CREDITORS, OR ANY CLASS THEREOF, FOR PURPOSES OF EFFECTING A
MORATORIUM UPON OR EXTENSION OR COMPOSITION OF ITS DEBTS; OR THE FAILURE OF
TENANT GENERALLY TO PAY ITS DEBTS AS THEY MATURE.
11
(6)
TENANT SHALL FAIL TO TAKE POSSESSION OF THE
PREMISES ON THE COMMENCEMENT DATE.
(7)
TENANT SHALL FAIL TO PERFORM ANY OF THE
OTHER AGREEMENTS TERMS, COVENANTS, OR CONDITIONS HEREOF ON TENANT'S PART TO BE
PERFORMED AND SUCH NON-PERFORMANCE SHALL CONTINUE FOR A PERIOD OF THIRTY (30)
DAYS AFTER WRITTEN NOTICE THEREOF BY LANDLORD TO TENANT OR, IF SUCH PERFORMANCE
CANNOT BE REASONABLY HAD WITHIN SUCH THIRTY (30) DAY PERIOD, TENANT SHALL NOT IN
GOOD FAITH HAVE COMMENCED SUCH PERFORMANCE WITHIN SUCH THIRTY (30) DAY PERIOD
AND SHALL NOT DILIGENTLY PROCEED THEREWITH TO COMPLETION.
B.
REMEDIES OF LANDLORD. IF ANY ONE OR MORE
EVENTS OF DEFAULT SHALL HAPPEN, THEN LANDLORD SHALL HAVE THE RIGHT AT LANDLORD'S
ELECTION, THEN OR AT ANY TIME THEREAFTER, EITHER TO:
(1)
MAKE ANY PAYMENT OR TAKE ANY ACTION TO CURE
ANY SUCH DEFAULT BY TENANT IN SUCH MANNER AND TO SUCH EXTENT AS LANDLORD MAY IN
GOOD FAITH DEEM NECESSARY OR DESIRABLE.
(2)
GIVE TENANT WRITTEN NOTICE IN ACCORDANCE
WITH THE COLORADO FORCIBLE ENTRY AND DETAINER LAWS, TERMINATE THIS LEASE AS OF
THE DATE OF TENANT'S DEFAULT OR AS OF ANY LATER DATE SPECIFIED IN THE NOTICE,
AND DEMAND AND RECOVER POSSESSION OF THE PREMISES FROM TENANT.
(3)
RE-ENTER AND TAKE POSSESSION OF ALL OR ANY
PART OF THE PREMISES AND EXPEL TENANT