Finance Committee - Agenda - 10/6/2021 - P200
a. In the event there is a breach by LESSEE with respect to any of the provisions of
this Agreement or its obligations under it, including the payment of rent, LESSOR shail give LESSEE
written notice of such breach. After receipt of such written notice, LESSEE shall have fifteen (15) days
in which to cure any monetary breach and thirty (30) days in which to cure any non-monetary breach,
provided LESSEE shall have such extended period as may be required beyond the thirty (30) days if the
nature of the cure is such that it reasonably requires more than thirty (30) days and LESSEE commences
the cure within the thirty (30) day period and thereafter continuously and diligently pursues the cure to
completion. LESSOR may not maintain any action or effect any remedies for default against LESSEE
unless and unti! LESSEE has failed to cure the breach within the time periods provided in this Paragraph.
b. In the event there is a breach by LESSOR with respect to any of the provisions
of this Agreement or its obligations under it, LESSEE shall give LESSOR written notice of such breach.
After receipt of such written notice, LESSOR shall have thirty (30) days in which to cure any such
breach, provided LESSOR shall have such extended period as may be required beyond the thirty (30)
days if the nature of the cure is such that it reasonably requires more than thirty (30) days and LESSOR
commences the cure within the thirty (30) day period and thereafter continuously and diligently pursues
the cure to completion. LESSEE may not maintain any action or effect any remedies for default against
LESSOR unless and until LESSOR has failed to cure the breach within the time periods provided in this
Paragraph. Notwithstanding the foregoing to the contrary, it shall be a default under this Agreement if
LESSOR fails, within five (5) business days after receipt of written notice of such breach, to perform an
obligation required to be performed by LESSOR if the failure to perform such an obligation interferes
with LESSEE’s ability to conduct its business on the Property; provided, however, that if the nature of
LESSOR’s obligation is such that more than five (5) business days after such notice is reasonably
required for its performance, then it shall not be a default under this Agreement if performance is
commenced within such five (5) business day period and thereafter diligently pursued to completion.
30. REMEDIES. Upon a default, the non-defaulting Party may at its option (but without
obligation to do so), perform the defaulting Party’s duty or obligation on the defaulting Party’s behalf,
including but not limited to the obtaining of reasonably required insurance policies. The costs and
expenses of any such performance by the non-defaulting Party shall be due and payable by the defaulting
Party upon invoice therefor. In the event of a default by either Party with respect to a material provision
of this Agreement, without limiting the non-defaulting Party in the exercise of any right or remedy which
the non-defaulting Party may have by reason of such default, the non-defaulting Party may terminate the
Agreement and/or pursue any remedy now or hereafter available to the non-defaulting Party under the
Laws or judicial decisions of the state in which the Premises are located. If either Party so performs any
of the other Party's obligations hereunder, the full amount of the reasonable and actual cost and expense
incurred by the performing Party shall immediately be owing by the other party, and shall be paid upon
demand the full undisputed amount thereof with interest thereon from the date of payment at the greater
of (i) ten percent (10%) per annum, or (ii) the highest rate permitted by applicable Laws.
Notwithstanding the foregoing, if the other Party does not pay the performing Party the full undisputed
amount within thirty (30) days of its receipt of an invoice setting forth the amount due, said amount due
may be offset against or added to all fees due and owing to LESSOR until the full undisputed amount,
including all accrued interest, is fully reimbursed to the performing Party.
31, ENVIRONMENTAL.
