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<br />ARTICLE 12 <br />EVENTS OF DEFAULT <br />Section 12.1 Events of Default Defined. The following shall be “Events of Default” <br />under this Lease Agreement and the “Event of Default” shall mean, whenever used in this Lease <br />Agreement, any one or more of the following events: <br />A. Failure by Lessee to pay any rental payments or Additional Rents due under this Lease <br />Agreement; <br />B. Construction of other improvements on the Leasehold Property without the express written <br />consent of the City; <br />C. Suspending or discontinuing the use of the Improvements for the Permitted Use specified <br />in Section 7.3 without the express written consent of the City; <br />D. Failure to keep the Leasehold Property free and clear from all liens for labor performed or <br />materials furnished; <br />E. Failure to pay any Impositions on the Leasehold Property; <br />F. Failure to pay for two (2) consecutive months any charges for cleaning and building <br />services, steam, water, natural gas, sewer, electricity, light, heat, air conditioning, <br />telephone or other telecommunications, internet, or other service or utility used, rendered, <br />or supplied to or in connection with the Leasehold Property and Improvements; <br />G. Failure to permit an inspection by the City as required in Article 10 of this Lease <br />Agreement; <br />H. The execution of any transfer, conveyance, assignment, mortgage, contract, or sublease by <br />Lessee in contravention of Article 11 of this Lease Agreement; <br />I. Default by Lessee under any mortgage approved by the City pursuant to the terms of this <br />Lease Agreement or under the Easement Agreement; or <br />J. Failure to comply with any other term, recital, or condition of this Lease Agreement. <br />Section 12.2 Remedies on Default. The City may, but shall have no obligation to, <br />exercise any one or more of the following remedies after thirty (30) days’ written notice to Lessee <br />of the occurrence of an Event of Default, but only if Lessee does not cure the Event of Default <br />within such thirty (30) days, or in the case of an Event of Default that cannot be cured within thirty <br />(30) days, does not commence curing the Event of Default within thirty (30) days and diligently <br />prosecute such curing to completion: <br />A. Terminate this Lease Agreement and the leasehold estate created in this Lease Agreement <br />and exclude Lessee from possession of the Leasehold Property, the Improvements, and any <br />other improvements on the Leasehold Property; <br />15 <br />2067394.0015/184093281.2 <br /> <br />