AG 2004 08 16 - Laserfiche WebLink

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Kannapolis Land, Inc., including without limitation, all terms and conditions pertaining to all mortgages which may now or hereafter affect or encumber all or any portion of the Land. Upon request of Sublessor, Subtenant shall execute and deliver any agreement subordinating this Sublease and Subtenant's interest in the Premises to any mortgage upon the Land, provided that the holder of the mortgage shall agree in writing not to disturb Subtenant's tenancy if there is no Subtenant default hereunder. Subtenant shall, from time to time, upon ten (10) days prior written request from Sublessor, cause to be executed, acknowledged and delivered a certificate stating this Sublease is in full force and effect, the amount of Rent, the dates to which Rent has been paid and stating that, to the knowledge of the signer of such certificate, either that no default exists under this Sublease or specifying each such default of which the signer has knowledge. Generally, so long as Subtenant is not in default hereunder, any Land mortgagee or any purchaser at a foreclosure of the mortgage shall not disturb Subtenant's possession of the Premises so long as Subtenant attorns to such mortgagee or purchaser at foreclosure. 23. Sublessor Default. Except as set forth herein, Sublessor's failure to perform or observe any of its material obligations under this Sublease within 30 days after receipt of written notice from Subtenant of such default (or within such other reasonable length of time if Sublessor has begun earnest efforts to cure such default within the thirty day period) shall be deemed to be a Sublessor Default hereunder. The written notice from Subtenant shall give reasonable detail regarding the nature and extent of the failure and identify the Sublease provision containing the obligations. In the event of Sublessor Default, Subtenant shall be entitled to terminate this Sublease upon thirty days prior written notice. 24. Subtenant Default. If Subtenant: (1) fails to pay any Rent, Additional Rent or any other sums of money due hereunder within 3 business days after the Due Date; or (2) fails to comply with any other provision of this Sublease after receipt of written notice from Sublessor; or (iii) there is a filing of any process of law in any action against Subtenant which impacts the Land; or (iv) becomes insolvent or unable to pay its debts as they become due or notifies Sublessor in writing that it anticipates either condition; or (v) files a petition under any section or chapter of the United States Bankruptcy Code as amended, or under any similar law or statute of the United States or any State thereof; or a petition shall be filed against Subtenant under any such statute, which is not dismissed within 30 days after the filing thereof; or (vi) has a receiver or trustee appointed for the assets of Subtenant and such is not discharged within 30 days after the appointment; then Subtenant shall be deemed to be in default hereunder. On the occurrence of any Subtenant default and after the applicable notice and cure period, subject to terms and conditions provided herein, Sublessor may: (i) without terminating this Sublease and without entering into possession of the Premises, continue this Sublease in effect and enforce all rights of Sublessor and obligations of Subtenant hereunder, including the filing of suit for the collection of Rent, Additional Rent and all other sums due hereunder as they accrue (including without limitation attorney's fees and . other damages). Acts of maintenance or preservation or re-letting the Premises shall not constitute a termination of this Sublease;