CCP 04-27-1998 - Laserfiche WebLink

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applicable Unlawful Detainer statutes, such Notice to Pay Rent or Quit or summons and complaint shall also constitute the notice required by this subparagraph. In the event Lessee fails to make any payment required hereunder for a period of three (3) ten (] m days after written . notice that such is due as provided above on two (2) or more occasions within any twelve (12) month period, Lessor shaH not be required for the duration of such twelve (12) month period to provide notice of such failure to Lessee prior to declaring Lessee in default under this Lease. (c) Except as otherwise provided in this Lease, the failure by Lessee to observe or perfonn any of the covenants, conditions, or provisions of this Lease to be observed or perfomlcd by Lessee, other than as described in paragraphs (a) and (b) above, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided, however, that if the nature of Lessee's noncompliance is such that more than thirty (30) days arc reasonably required for its cure, tben Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. To the extent permitted by law, such thirty (30) day notice shall constitute the sole and exclusive notice required to be given to Lessee under applicable Unlawful Detainer statutes. (d) (i) The making by Lessee of any general arrangement or general assignment for the benefit of creditors; (ii) Lessee becomes a "debtor" as defined in 11 U_S.c. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed witbin sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within thirty (30) days; or (tv) the attachment, execution, or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged witbin thirty (30) days_ In the event that any provision of this paragraph IJ.l(d) is contrary to any applicable law, such provision shall be of no force or effect (e) The discovery by Lessor that any financial statement given to Lessor by Lessee, any assignee of Lessee, any subtenant of Lessee, any successor in interest of Lessee, or any guarantor of Lessee's obligations hereunder, was materially false. (I) The death of any guarantor of Lessee's obligations hereunder without a . replacement guarantee or other security satisfactory to Lessor, within sixty (60) days of such death. 13.2 Remedies. In the event of any such material default by Lessee, Lessor may at any time thereafter, with or without notice or demand and without limiting Lessor in the exercise of any right or remedy that Lessor may have by reason of such default: (a) Terminate this Lease or Lessee's right to possession of the Premises by notice to Lessee or any other lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Lessee: (i) The worth at the time of award of the unpaid rentals which had been earned at the time of termination; (ii) The worth at the time of award of the amount by which the unpaid rentals that would have been earned after tennination until the time of award exceeds the amount of such rental loss that Lessee proves could have been reasonably avoided; (iii) The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of Minneapolis at the time of award plus one (1) percent) of the amount by which the unpaid rentals for the balance of the term hereof after the time of award exceeds the amount of such rental loss that Lessee proves could be reasonably avoided; and (iv) Any other amounts necessary to compensate Lessor for detriment proximately caused by the default by Lessee or which in the ordinary course of events would likely result, including without limitation the reasonable costs and expenses incurred by Lessor for: (A) Retaking possession of the Premises; (B) Cleaning and making repairs and alterations (including installation of leasehold . improvements, whether or not the same shall be funded by a reduction of rent, direct payment, or \\MINNF.APOUS\\fOLIISUPI'ORl"I""D"T"I"MII\R>m>ol.\R""rodU:\"GREEMENUlI;II,Io,QI.d page 14 (S:IMDATA\AM8IGENf.!UL \rORMSlREfT-U-M.DOCJ --