Reso 2010-1658 - Laserfiche WebLink

Home Browse Search

Section 7. Responsibility. Landlord shall not be responsible for any loss or damage occurring to any property owned by Tenant, any sublessee, any space lessee or any occupant. Section 8. The provisions of this Article XVI shall survive any termination or expiration of this Lease, including a termination pursuant to the provisions of Articles XVII of this Lease. ARTICLE XVII Defaults and Remedies Section 1. Default by Tenant. The following shall be deemed a default by Tenant: (a) Tenant shall make default in the payment of the Basic Rent or Additional Rent expressly reserved hereunder, or any part of the same, and such default shall continue for fifteen (15) days after written notice, or shall make default in the payment of any other charge required to be paid by Tenant hereunder or any part of the same, and such default shall continue for fifteen (15) days after written notice. Notwithstanding the foregoing, any payments due hereunder received more than fifteen (15) days after the due date shall accrue interest at the lesser of eighteen percent (18%) per annum or the highest non-usurious rate permitted under applicable law accruing from the date such payment was due; or (b) Tenant shall make an assignment for the benefit of creditors; or (c) a voluntary petition be filed by Tenant for relief under Title 11 of the United States Code, as amended or any other present or future federal or state insolvency, bankruptcy or similar law; or (d) an involuntary petition for relief be filed against Tenant under any such laws and such petition is not dismissed within ninety (90) days; or (e) any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested or consented to by Tenant; or (f) a receiver be appointed for the property of Tenant by reason of the insolvency or alleged insolvency of Tenant and such temporary receiver is not discharged or removed within one hundred twenty (120) days; or (g) Tenant shall make default in fulfilling any of the covenants of this Lease (other than the covenants for the payment of the Basic Rent, Additional Rent, or other charges payable by Tenant hereunder which are covered under separate provisions hereof), and such default shall continue for a period of thirty (30) days after written notice, provided that if such default is curable but cannot be cured within a period of thirty (30) days, if Tenant fails to proceed promptly after the service of such notice and to prosecute such cure with due diligence (it being intended that in connection with a default that is curable, but not susceptible of being cured 25 U:\City Attorney\HANS\2010 Documents\4mlnvestors\GROUND LEASE WORKING DRAFT 11.16.10.doc