Agenda - Council - 01/14/2014 - Laserfiche WebLink

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C. Contain an endorsement requiring ten (10) days' written notice from the insurance company to both parties and Landlord's lender before cancellation or change in the coverage, scope, or amount of any policy. Each policy, or a certificate of. the policy, together with evidence of payment of premiums, shall be deposited with the other party at the commencement of the Term, and on renewal of the policy not less than thirty (30) days before expiration of the term of the policy. 15. Default by Tenant and Landlord's Remedies. 15.1 Event of Default. If any one or more of the following events shall occur and be continuing beyond the period set forth in any default notice provided, an Event or Events of Default shall have occurred under this Lease: 15.1.1 Non -Payment. If Tenant shall fail to pay any installment of fixed annual rent, additional rent or other sums due from Tenant to Landlord under this Lease within ten (10) days after delivery of notice from Landlord to Tenant that the same is past due and payable; 15.1.2 License Requirement. If Tenant does not have in existence a -valid Off -Sale intoxicating liquor license issued by the City of Ramsey. 15.1.3. Non -Performance. If Tenant shall fail to comply with any of this Lease's other terms, covenants, conditions or obligations and such failure in compliance shall continue for thirty (30) days after delivery of notice from Landlord to Tenant specifying the failure, or, if such failure cannot with due diligence be remedied within thirty (30) days, Tenant shall riot, in good faith have commenced within said thirty (30) day period to remedy such failure and continued diligently and continuously thereafter to prosecute the same to completion. Notwithstanding the above, violation of subsection 15.1.2 shall be an immediate default and this Lease, and at Landlord's sole discretion may immediately terminate the Lease; or 15.2 Right to Terminate Lease and Re -Enter. Upon an Event of Default, Landlord may, in addition to any other remedy available to Landlord under this Lease or available under Requirements, at Landlord's option, on ten (10) days' notice to Tenant, declare this Lease terminated at the expiration of such ten (10) day period and Tenant shall quit and surrender the possession of the Premises, but Tenant shall remain liable to Landlord as hereinafter provided, and upon Tenant's failure to surrender possession, Landlord may re-enter the Premises by summary proceeding or otherwise free from any estate or interest of Tenant in the Premises. 15.3 Landlord's Right to Restore and Re -Let, and Tenant's Liability for Expenses. In the event that Landlord shall obtain possession by re-entry, legal or equitable actions or proceedings or other lawful means as a result of an Event of Default by Tenant, Landlord shall have the right, without the obligation, to make reasonable renovations, alterations and repairs to the Premises required to restore them to the condition the same should be during the Term, and to re -let the Premises or any part of 8