LIABILITIES OR REORGANIZATION; OR (D) VIOLATE
AND/OR FAIL TO COMPLY WITH ANY ARTICLE, PROVISION, RULE OR REGULATION IN THIS
LEASE.
IN ADDITION, IF LESSEE FAILS MORE THAN TWICE WITHIN ANY TWELVE (12)
MONTH PERIOD TO OBSERVE OR PERFORM ANY COVENANT, CONDITION, RULE, REGULATION OR
AGREEMENT OF THIS LEASE (INCLUDING, WITHOUT LIMITATION, THE PAYMENT OF RENT),
REGARDLESS OF WHETHER SUCH DEFAULTS HAVE BEEN CURED BY LESSEE, THE THIRD (3RD)
DEFAULT SHALL, AT THE ELECTION OF LESSOR, IN ITS SOLE DISCRETION, BE DEEMED A
NONCURABLE BREACH.
In the event of a Breach, Lessor shall have the following rights:
(A)
LESSOR SHALL HAVE THE RIGHT TO ENTER THE PREMISES AND REMOVE ALL
PERSONS AND PROPERTY FROM THE PREMISES AND STORE SUCH PROPERTY IN A PUBLIC
WAREHOUSE OR ELSEWHERE AT THE COST OF LESSEE, AND LESSOR MAY EITHER TERMINATE
THIS AGREEMENT OR, WITHOUT TERMINATION THIS AGREEMENT, MAKE SUCH ALTERATIONS AND
REPAIRS AS MAY BE NECESSARY IN ORDER TO RENT THE PREMISES, AND RENT THE PREMISES
OR ANY PART THEREOF FOR SUCH TERM AND AT SUCH RENTS AND UPON SUCH OTHER TERMS
AND CONDITIONS AS LESSOR, IN ITS SOLE DISCRETION, MAY DEEM ADVISABLE.
UPON SUCH
RENTING, ALL RENTALS RECEIVED BY LESSOR SHALL BE APPLIED FIRST TO THE PAYMENT OF
ANY DEBT OTHER THAN RENT DUE HEREUNDER FROM LESSEE TO LESSOR; SECOND TO PAY ANY
REASONABLE COSTS AND EXPENSES OF SUCH RENTING, INCLUDING BROKERAGE AND LEGAL
FEES; THIRD TO PAY ANY RENT DUE HEREUNDER; AND THE RESIDUE, IF ANY, SHALL BE
HELD BY LESSOR AND APPLIED IN PAYMENT OF FUTURE RENT WHICH BECOMES DUE AND
PAYABLE HEREUNDER.
IF THE RENTAL RECEIVED FROM RENTING THE PREMISES IS LESS
THAN THE RENT PAYABLE HEREUNDER, LESSEE SHALL PAY ANY SUCH DEFICIENCIES,
MONTHLY, TO LESSOR.
NO ENTRY OR TAKING POSSESSION OF THE PREMISES BY LESSOR
SHALL BE AN ELECTION BY LESSOR TO TERMINATE THIS AGREEMENT.
(B)
LESSOR SHALL ALSO HAVE THE RIGHT TO TERMINATE THIS AGREEMENT, IN
WHICH EVENT, IN ADDITION TO ANY OTHER REMEDIES LESSOR MAY HAVE, LESSOR MAY
RECOVER FROM LESSEE ALL DAMAGES INCURRED BY REASON OF LESSEE BREACH, INCLUDING
THE COST OF RECOVERING THE PREMISES, REASONABLE LEGAL FEES AND ANY EXCESS OF THE
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 SHALL BE IMMEDIATELY DUE AND PAYABLE FROM LESSEE TO LESSOR.
(C)
LESSOR MAY, AT ITS OPTION, INSTEAD OF EXERCISING ANY OTHER RIGHT
OR REMEDY, SPEND SUCH REASONABLE SUMS AS MAY BE REASONABLY NECESSARY TO CURE ANY
DEFAULT OF LESSEE AND SUCH AMOUNT, INCLUDING LEGAL FEES, SHALL BE PAID BY LESSEE
AS ADDITIONAL RENT, UPON DEMAND.
(D)
ANY REMEDY OF LESSOR HEREIN OR BY LAW OR STATUTE SHALL BE
CUMULATIVE WITH ALL OTHER REMEDIES AND MAY BE EXERCISED FROM TIME TO TIME AND AS
OFTEN AS THE OCCASION MAY ARISE.
(E)
NO FORBEARANCE BY LESSOR TO EXERCISE ANY RIGHT ACCRUING TO LESSOR
HEREUNDER SHALL BE CONSTRUED AS A WAIVER OF ANY SUCH RIGHTS.
In