THE BENEFIT OF
CREDITORS; OR SUBSTANTIALLY ALL OF TENANT'S ASSETS IN, ON OR ABOUT THE PREMISES
OR TENANT'S INTEREST IN THIS LEASE ARE ATTACHED OR LEVIED UPON UNDER EXECUTION
(AND TENANT DOES NOT DISCHARGE THE SAME WITHIN THIRTY (30) DAYS THEREAFTER); OR
(V)
TENANT CAUSES OR PERMITS A HAZARDOUS
CONDITION IN VIOLATION OF APPLICABLE LAWS, ORDINANCES OR REGULATIONS TO EXIST ON
THE PREMISES AND FAILS TO CURE SUCH CONDITION IMMEDIATELY AFTER NOTICE THEREOF
FROM LANDLORD OR THE APPLICABLE GOVERNMENTAL AUTHORITY.
(B)
REMEDIES OF LANDLORD.
UPON THE OCCURRENCE
OF ANY EVENT OF DEFAULT SET FORTH IN PARAGRAPH 19(A) HEREOF, LANDLORD SHALL HAVE
THE FOLLOWING RIGHTS AND REMEDIES, IN ADDITION TO THOSE ALLOWED BY LAW, ANY ONE
OR MORE OF WHICH MAY BE EXERCISED WITHOUT FURTHER NOTICE TO OR DEMAND UPON
TENANT:
(I)
LANDLORD MAY APPLY THE SECURITY DEPOSIT
OR RE-ENTER THE PREMISES AND CURE ANY DEFAULT OF TENANT, IN WHICH EVENT TENANT
SHALL REIMBURSE LANDLORD AS ADDITIONAL RENT FOR ANY COSTS AND EXPENSES WHICH
LANDLORD MAY INCUR TO CURE SUCH DEFAULT; AND LANDLORD SHALL NOT BE LIABLE TO
TENANT FOR ANY LOSS OR DAMAGE WHICH TENANT MAY SUSTAIN BY REASON OF LANDLORD'S
ACTION, UNLESS CAUSED BY LANDLORD'S GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT.
(II)
LANDLORD MAY TERMINATE THIS LEASE AS OF
THE DATE OF SUCH DEFAULT, IN WHICH EVENT:
(A) NEITHER TENANT NOR ANY PERSON
CLAIMING UNDER OR THROUGH TENANT SHALL THEREAFTER BE ENTITLED TO POSSESSION OF
THE PREMISES, AND TENANT SHALL IMMEDIATELY THEREAFTER SURRENDER THE PREMISES TO
LANDLORD; (B) LANDLORD MAY RE-ENTER THE PREMISES AND DISPOSSESS TENANT OR ANY
OTHER OCCUPANTS OF THE PREMISES BY SUMMARY PROCEEDINGS, EJECTMENT OR OTHERWISE,
AND MAY REMOVE THEIR EFFECTS, WITHOUT PREJUDICE TO ANY OTHER REMEDY WHICH
LANDLORD MAY HAVE FOR POSSESSION OR ARREARAGES IN RENT; AND (C) NOTWITHSTANDING
THE TERMINATION OF THIS LEASE LANDLORD (1) SHALL BE ENTITLED TO RECOVER FROM
TENANT, AND TENANT SHALL PAY TO LANDLORD ON DEMAND, AS AND FOR LIQUIDATED AND
AGREED FINAL DAMAGES FOR TENANT'S DEFAULT, AN AMOUNT EQUAL TO THE THEN PRESENT
VALUE OF THE EXCESS OF THE BASE RENT AND ALL OTHER SUMS OR CHARGES RESERVED
UNDER THIS LEASE FROM THE DATE OF SUCH TERMINATION FOR WHAT WOULD BE THE THEN
UNEXPIRED TERM IF THE SAME HAD REMAINED IN EFFECT, OVER THE NET FAIR RENTAL
VALUE OF THE PREMISES FOR THE SAME PERIOD, SUCH PRESENT VALUE TO BE ARRIVED AT
ON THE BASIS OF A DISCOUNT FACTOR OF FOUR PERCENT (4%) PER YEAR OR (2) LANDLORD
MAY RELET ALL OR ANY PART OF THE PREMISES FOR A TERM DIFFERENT FROM THAT WHICH
WOULD OTHERWISE HAVE CONSTITUTED THE BALANCE OF THE TERM AND FOR RENT AND ON
TERMS AND CONDITIONS DIFFERENT FROM THOSE CONTAINED HEREIN, WHEREUPON TENANT
SHALL BE OBLIGATED TO PAY TO LANDLORD AS LIQUIDATED DAMAGES THE DIFFERENCE
BETWEEN THE RENT PROVIDED FOR HEREIN AND THAT PROVIDED FOR IN ANY LEASE COVERING
A SUBSEQUENT RELETTING OF THE PREMISES, FOR THE PERIOD WHICH WOULD OTHERWISE
HAVE CONSTITUTED THE BALANCE OF THE TERM, TOGETHER WITH ALL OF LANDLORD'S
REASONABLE COSTS