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200510853
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Last modified
11/2/2005 12:01:36 PM
Creation date
11/2/2005 12:01:35 PM
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DEEDS
Inst Number
200510853
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<br />200510853 <br /> <br />ARTICLE XVI <br />REMEDIES TO BE CUMULATIVE <br />(No Implied Waiver) <br /> <br />Lessor and Lessee shall each be entitled to specific performance and injunctive or <br />other equitable relief for any breach or threatened breach of any of the provisions of this Agreement, <br />notwithstanding the availability of an adequate remedy at law, and each party hereby waives the <br />right to raise such defense in any proceeding in equity. The specific remedies provided for in this <br />Agreement are cumulative and not exclusive of any other remedy. The failure of any party to insist <br />in anyone or more cases upon strict performance shan not be construed as a waiver or <br />relinquishment for the future. No acceptance of rent with knowledge of any default shall be deemed <br />a waiver of such default. <br /> <br />ARTICLE XVll <br />ASSIGNMENT OF LEASE-AMENDMENTS-REMEDIES OF TRUSTEE <br /> <br />Lessee accepts notice that this Agreement has been or is to be assigned and pledged <br />to the Trustee, and that the Payments and additional rent payable to Lessor under this Agreement <br />have likewise been or are to be assigned to the Trustee to provide payment for and as security for <br />the Building Bonds issued by Lessor; and Lessee consents and agrees for the benefit of the Trustee <br />and the registered owners of said bonds, that until payment of an said bonds and interest thereon or <br />until fimds sufficient for such payments have been duly provided, this Agreement may not be <br />effectively amended, changed or modified except as permitted by the Indenture, and that the Trustee <br />has and may exercise all rights and remedies of Lessor provided for in this Agreement, either in its <br />own name or in the name ofthe Lessor. <br /> <br />ARTICLE XVIII <br />CONVEYANCE TO LESSEE <br /> <br />On the termination of this Agreement, if the Lessee has paid an the rentals due to <br />Lessor under the terms of this Agreement, Lessor will convey and transfer the Project to Lessee by <br />good and sufficient instrument of conveyance free and clear of all liens and encumbrances, except <br />any encumbrances caused by default of Lessee hereunder or agreed to by Lessee, and such <br />conveyance shall be made without payment by Lessee of any additional rental or other <br />consideration therefor. In the event that Lessee prepays the Payments in full as permitted under <br />Article II in such manner that all bonds issued pursuant to the Indenture have been fully satisfied <br />and any and an additional rentals then due have also been paid in full prior to the expiration of the <br />term of this Agreement, this Agreement will thereupon be terminated and the Project transferred to <br />the Lessee in the same manner and on the same conditions as above provided upon termination of <br />this Agreement. <br /> <br />15 <br />
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