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CCP 02-26-2013
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CCP 02-26-2013
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4/25/2021 8:07:01 PM
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2/22/2013 1:57:45 PM
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ARTICLE X-TENANT'S DEFAULT <br /> 10.1 EVENTS OF DEFAULT. The following events shall be deemed to be events of <br /> default by Tenant under this Lease: <br /> (a) Tenant shall fail to pay when due any installment of rent, or other charges <br /> provided herein,or any portion thereof and the same shall remain unpaid after <br /> the first of the month;provided,however,that Tenant shall not be in default <br /> under this paragraph 10.1(a)until five days after Landlord has given written <br /> notice to Tenant of default by reason of failure to make timely payment of <br /> rent; or <br /> (b) Tenant shall for reasons other than those specifically permitted in this Lease, <br /> cease to conduct its normal business operations in the Leased Space or shall <br /> vacate or abandon Leased Space. Tenant will be deemed to have vacated, <br /> closed or abandoned the Leased Space if it fails to conduct its business on the <br /> Leased Space during regular working hours for a period of more than ten(30) <br /> consecutive business days without prior written authorization of landlord;or <br /> (c) Tenant shall do or permit to be done anything that creates a lien upon the <br /> Leased Space; and does not cause said lien as to Landlord's interest in the <br /> property to be released within ten (10) days after written notice from <br /> Landlord; or <br /> (d) Any representation or warranty made in writing to Landlord in this Lease or <br /> in connection with the making of this Lease,by Tenant or any guarantor,shall <br /> prove at any time to have been incorrect in any material respect when made <br /> or becomes incorrect; or <br /> (e) Tenant shall have failed to comply with any other provisions of this Lease and <br /> shall not cure any failure within thirty(30)days,or such longer period of time <br /> as may be reasonably required to cure such default,after Landlord,by written <br /> notice,has informed Tenant of such noncompliance. <br /> 10.2 LANDLORD'S REMEDIES. Upon the occurrence of any of the above listed events <br /> of default, Landlord may elect to either: (1) terminate this Lease; or(2)terminate Tenant's right to <br /> possession only without terminating this Lease, hereinafter referred to as re-entry; (3) pursue any <br /> other remedy available at law or in equity. Landlord shall have all remedies provided in the Lease <br /> and under governing law. All of the remedies given to Landlord in this Lease or by law shall be <br /> cumulative,and the exercise of one right or remedy by Landlord shall not impair its right to exercise <br /> any other right or remedy. <br /> In the event of election under (2) above to terminate Tenant's right to possession only, <br /> Landlord may, at Landlord's option,proceed to demand possession by notice and proceeding under <br /> the Unlawful Detainer Law of Minnesota and take and hold possession thereof without such <br /> proceeding or entry into possession terminating this Lease or releasing Tenant in whole or in part <br /> from Tenant's obligation to pay the rent hereunder for the full term. Upon re-entry Landlord may <br /> remove all personal property from the Leased Space and such property may be removed and stored in <br /> 7 <br />
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