Laserfiche WebLink
ARMCLE 23. TRANSFER OF OW MS IPILF,R - <br />Tn the event of any transfer(s) of Owners interest in the Property, other than a transfer for secu- <br />rity purposes only, the transferor shall be automatically relieved of any covenant of quiet enjoy- <br />ment and any other obligations and liabilities on the part of Owner accruing from and after the date <br />of such transfer, and Tenant agrees to attorn to the transferee. <br />ARTICLE 24. WUI S RICE To FMM TENANT OBLIGATIONS. <br />All covenants and agreements to be performed by Tenant under any of the terms of this lease shall be <br />performed by Tenant at Tenant's sole cost and expense and without any abatement of rent. If Tenant <br />shall fail to pay any scan of money, other than rent, required to be paid by it hereunder or shall <br />fail to perform any other act on its partto be performed hereunder, and such failure shall continue <br />for ten days after notice thereof by Owner, Owner may (but shall not be obligated so to do), without <br />waiving or releasing Tenant from any of Tenant's obligations, make any such payment or perform any <br />such other act on behalf of Tenant. All sums so paid by Owner and all necessary incidental costs, <br />together with interest thereon at the rate of 12% per annum from the date of such payment by Owner <br />until reimbursement in full by Tenant, shall be payable to Owner as additional rent with the next <br />monthly installment of tent, and Tenant covenants to pay any such sums. Owner shall have (in addi- <br />tion to any other right or remedy of Owner) the same rights and remedies in the event of the nonpay- <br />ment of sums due under this Article as in the case of default by Tenant in the payment of rent, <br />except that payments made by Owner hereunder shall not subject Tenant to a late charge unless reim- <br />bursement by Tenant is not made when due. <br />ARTICLE 25. LEGAL EXPENSES. <br />Tenant sball pay to Owner all amounts for costs (including reasonable attorneys' fees) incurred by <br />Owner in connection with any breach or default by Tenant under this Tease. Such amounts shall be <br />payable upon demand. Tn addition, if any action shall be instituted by either of the parties hereto <br />for the enforcement or interpretation of any of its rights or remedies in or under this Lease, the <br />prevailing party shall be entitled to recover from the losing party all costs incurred by the pre- <br />vailing party in said action and any appeal therefrom, including attorneys" fees to be fixed by the <br />court herein. Said costs and attorneys' fees shall be included as part of the judgement in any such <br />action. Further, should Owner be made a party to any litigation between Tenant and any third party, <br />then Tenant shall pay all costs and attorneys' fees incurred by or imposed upon Owner in connection <br />with such litigation. <br />ARTICLE 26, LA E PAYMENTS: INTEREST AND LATE CHARGES. <br />A. Any amount due from Tenant to Caner which is not paid when due shall bear interest at the rate <br />of 12% per annuu from the date such payment is due until paid. lbwever, amounts spent by Owner on <br />behalf of Tenant (e.g., pursuant to Article 24 hereof) shall bear interest at such rate from the <br />date of disbursement by Owner. - <br />B. Tenant hereby acknowledges that in addition to lost interest, the late payment by Tenant to <br />Owner of rent or any additional rent or other sums due hereunder will cause Owner to irncur other <br />costs not contemplated in this Lease, the exact amount of which will be extremely difficult and <br />impracticable to ascertain. Such other costs include, but are not limited to, processing, adminis- <br />trative and accounting costs. Accordingly, if any installment of rent or any additional rent or any <br />other sum due from Tenant shall not be received by Owner within ten days after such amount shall be <br />PEAR 1988 <br />-15- <br />