DocuSign Envelope ID: C9028CC8-C625-4E12-B2E5-F52E5129A266
Landlord shall keep complete books and records on such and Tenant shall have the right, at its expense, to inspect such.
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TENANTS TAXES and TENANTS INSURANCE. Tenant shall be liable for all Taxes levied or assessed against its personal property. Tenant will maintain at its expense, fire and extended coverage casualty insurance on all fixtures and equipment in the Premises.
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SUBORDINATION and ESTOPPELS. This Lease and all rights of Tenants hereunder are subject and subordinate to any deeds of trust, mortgages, ground leases or other instruments of security covering all or any part of the Buildings. Tenant further covenants and agrees to attorn to any purchaser and to recognize such purchaser as Landlord under this Lease. Tenant agrees to furnish from time to time when requested by Landlord subordination and/ or estoppel certificates in commercially reasonable forms, signed by Tenant, confirming and containing such factual certifications and representations deemed appropriate by Landlord, and Tenant shall, within
seven (7) fifteen (15) days following receipt of said proposed certificate from Landlord, return a fully-executed copy of said certificate to Landlord. In the event Tenant shall fail to return a fully-executed copy of such certificate to Landlord within the foregoing seven (7) fifteen (15) day period, then this shall be considered an event of default of this Lease.
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EVENTS OF DEFAULT. The following events shall be events of default by Tenant under this Lease:
(a) Monetary Default. If Tenant shall fail to pay rental or other sums when due (including late fee specified in Section 3) prior to the expiration of five (5) days after such due date and after written notice by Landlord to Tenant thereof, except that Landlord shall not be required to provide written notice of a monetary default more than once in any calendar year.
(b) Non-Monetary Default. If Tenant shall fail to comply with any other provision of this Lease after the expiration of thirty (30) days after receipt of written notice from Landlord thereof, or such extended period as may be reasonably necessary for Tenant to cure such default, so long as Tenant is diligently pursuing such cure and so long as Tenant commenced such cure within the 30-day period.
(c) Tenant or any guarantor of Tenants obligations hereunder shall make an assignment for the benefit of creditors, a petition is filed by or against Tenant or any guarantor of Tenants obligations hereunder under any section or chapter of the National Bankruptcy act; Tenant or any guarantor hereunder shall be adjudged bankrupt or insolvent, or a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant or any guarantor.
(d) Tenant shall cause or permit any Hazardous Substance (as defined by Federal, State or City regulations) to be used, stored or disposed of, in or around the Premises or the Buildings.
(e) Tenant shall fail to sign an estoppel certificate or a subordination and non disturbance agreement as required by the Lease.
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REMEDIES. Upon the occurrence of any Event of Default, Landlord shall have the option to pursue any one or more of the following remedies without any notice of demand whatsoever:
(a) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefore; and Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Premises on satisfactory terms or otherwise, including the loss of rental for the remainder of the Lease Term.
(b) Enter upon and take possession of the Premises and expel or remove tenant and any other person who may be occupying the Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefore, and if Landlord so elects, relet the Premises on such terms as Landlord shall deem advisable and receive the rent therefore; and Tenant agrees to pay to Landlord on demand any deficiency that may arise by reason of such reletting for the remainder of the Lease Term.
(c) Exclude Tenant and any other person(s) occupying the Premises from the Premises by changing all door locks located thereon. Landlord shall, however, have absolutely no obligation to furnish a new key unless and until Tenant cures all existing defaults. Landlord and Tenant intend that this sub-paragraph (c) expressly supersedes any conflicting provisions contained in the Texas Property Code, or any successor statute.
(d) Enter upon the Premises, by force if necessary, without being liable for prosecution or any claim for damages therefore, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenants obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action.
No re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Pursuit of any of the foregoing remedies shall not preclude pursuit of any of the other remedies herein provided by law, nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damages accruing to landlord by reason of the violation of any of the terms, provisions and covenants herein contained. Landlords acceptance of rent following an event of default hereunder shall not be construed as Landlords waiver of such event of default. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants herein contained shall be deemed or construed to constitute a waiver of any other violation or default. The loss or damage that Landlord may suffer by reason of termination of this Lease or the deficiency from any reletting as provided for above shall include the expense of repossession and any repairs or remodeling undertaken by Landlord following possession. Should Landlord at any time terminate this Lease for any default, in addition to any other remedy Landlord may have, Landlord may recover from Tenant all actual damages (including reasonable attorneys fees) Landlord may incur by reason of such default, including the cost of recovering the Premises and the loss of rental for the remainder of the Lease Term, except that under no circumstance may Landlord collect incidental, consequential, or punitive damages from Tenant.
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CONDEMNATION. If the Premises, or any part thereof, or if the Buildings or any portion of the Buildings leaving the remainder of the Buildings unsuitable for use as a Buildings comparable to its use on the Commencement Date of this Lease, shall be taken or condemned in whole or in part for public purposes, or sold in lieu of condemnation, then the Lease Term shall, at the sole option of Landlord, forthwith cease and terminate, all compensation awarded for any taking (or sale proceeds in lieu thereof) shall be the property of Landlord, and Tenant shall have no claim thereto, the same being hereby expressly waived by Tenant.
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