RENT UNDER THE LEASE, AND THE FAILURE OF
LESSEE TO PAY THE SAME WITHIN TEN
(10) DAYS AFTER DEMAND BY LESSEE.
(B)
THE INTEREST RATE CHARGED HEREIN IS STATED AS A FIXED RATE OF TEN
(10) PERCENT PER ANNUM.
HOWEVER, THE PARTIES STIPULATE AND AGREE THAT THE
ACTUAL INTEREST RATE CHARGED AT THE APPROPRIATE TIME PROVIDED HEREIN, SHALL BE
THE STATED RATE OF TEN (10) PERCENT PER ANNUM OR THE THEN CURRENT PRIME RATE
(DEFINED AS THE UNITED STATES FEDERAL RESERVE BANK'S PRIMARY CREDIT RATE) PLUS
FOUR (4) PERCENT, WHICHEVER IS HIGHER (THE HIGHER RATE BEING THE "STATED RATE").
SECTION 18.02.
REMEDIES CUMULATIVE -NON-WAIVER.
UNLESS STATED AS SUCH
PARTY'S SOLE AND EXCLUSIVE REMEDY, THE VARIOUS RIGHTS AND REMEDIES HEREIN
CONTAINED AND RESERVED TO EACH OF
47
THE PARTIES SHALL NOT BE CONSIDERED AS EXCLUSIVE OF ANY OTHER RIGHT OR REMEDY OF
SUCH PARTY, BUT SHALL BE CONSTRUED AS CUMULATIVE AND SHALL BE IN ADDITION TO
EVERY OTHER REMEDY NOW OR HEREAFTER EXISTING AT LAW, IN EQUITY OR BY STATUTE,
AND SAID RIGHTS AND REMEDIES MAY BE EXERCISED AND ENFORCED CONCURRENTLY AND
WHENEVER AND AS OFTEN AS OCCASION THEREFORE ARISES.
NO DELAY OR OMISSION TO
EXERCISE ANY RIGHT OR POWER BY EITHER PARTY SHALL IMPAIR ANY SUCH RIGHT OR
POWER, OR BE CONSTRUED AS A WAIVER OF ANY DEFAULT OR AS ACQUIESCENCE THEREIN.
ONE OR MORE WAIVERS OF ANY COVENANT, TERM OR CONDITION OF THIS LEASE BY EITHER
PARTY SHALL NOT BE CONSTRUED BY THE OTHER PARTY AS A WAIVER OF A SUBSEQUENT OR
CONTINUING BREACH OF THE SAME COVENANT, TERM OR CONDITION.
THE CONSENT OR
APPROVAL BY EITHER PARTY TO OR OF ANY ACT BY THE OTHER PARTY OF A NATURE
REQUIRING CONSENT OR APPROVAL SHALL NOT BE DEEMED TO WAIVE OR RENDER UNNECESSARY
CONSENT TO OR APPROVAL OF ANY SUBSEQUENT SIMILAR ACT.
SECTION 18.03.
INTERPRETATION/COMPLETE AGREEMENT/COUNTERPARTS.
THE
HEADINGS OF THE SEVERAL ARTICLES AND SECTIONS CONTAINED HEREIN ARE FOR
CONVENIENCE ONLY AND DO NOT DEFINE, LIMIT OR CONSTRUE THE CONTENTS OF SUCH
ARTICLES AND SECTIONS.
ANY REFERENCES HEREIN TO COSTS, EXPENSES OR SIMILAR
AMOUNTS SHALL BE REFERENCES TO OUT-OF-POCKET COSTS, EXPENSES AND SIMILAR
AMOUNTS.
ANY STATEMENTS HEREIN THAT AN ACTION OR CONSENT IS NOT TO BE
UNREASONABLY WITHHELD SHALL MEAN THAT SUCH ACTION OR CONSENT IS NOT TO BE
UNREASONABLY WITHHELD, CONDITIONED OR DELAYED.
ALL NEGOTIATIONS,
CONSIDERATIONS, REPRESENTATIONS AND UNDERSTANDINGS BETWEEN THE PARTIES ARE
INCORPORATED HEREIN AND MAY BE MODIFIED OR ALTERED ONLY BY AGREEMENT IN WRITING
SIGNED BY THE PARTY TO BE BOUND.
THIS LEASE MAY BE EXECUTED IN MULTIPLE
COUNTERPARTS, ALL OF WHICH, TOGETHER, SHALL CONSTITUTE ONE AND THE SAME
INSTRUMENT.
SECTION 18.04.
GOVERNING LAW.
THIS LEASE AND ANY QUESTIONS OF
INTERPRETATION THEREOF SHALL BE GOVERNED BY THE LAWS OF THE STATE OF INDIANA.
SECTION 18.05.
SEVERABILITY OF INVALID PROVISIONS.
IF ANY PROVISION OF
THIS LEASE SHALL BE HELD TO BE INVALID, VOID OR UNENFORCEABLE, THE REMAINING
PROVISIONS HEREOF SHALL NOT BE AFFECTED OR IMPAIRED, AND SUCH REMAINING
PROVISIONS SHALL REMAIN IN FULL FORCE AND EFFECT.
SECTION