09-22-08 Special Called Regular Meeting of the La Porte Development Corporation Board of Directors

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18.1.3 Tenant shall become insolvent, or shall make a transfer in fraud of creditors, or shall make anassignment for the benefit of creditors. 18.1.4 Tenant shall file a petition under any section or chapter of the Federal Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof, orTenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant. 18.1.5 A receiver or trustee shall be appointed for the Premises or for all or substantially all of the assets of Tenant. 18.1.6 Tenant shall abandon or vacate any substantial portion of the Premises or shall permit the Premises to remain unoccupied and unattended. 18.1.7 Tenant shall do or permit to be done anything that creates a lien upon the Premises. 18.1.8 Tenant (if Tenant is a corporation, partnership, limited liability company, or other business entity) shall fail to maintain its existence or shall fail to remain in good standing with the Texas Comptroller of Public Accounts (if applicable) or any other governmental entity with which it is required by law to remain in good standing. 18.1.9 Tenant and/or any affiliate of Tenant hereunder shall default under any other agreement between such party and Landlord and/or any affiliate of Landlord; provided, however, if such other agreement gives the defaulting party an opportunity to cure such a default within a particular time, no Event of Default will be deemed to have occurred until such time has expired without such default having been cured. Section 18.2 Upon the occurrence of any such Events of Default, in addition to all other legal or equitable remedies now or hereafter available, Landlord shall have the option to pursue any and/or all of the following described remedies without further demand or notice whatsoever: 18.2.1 Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which he may have for possession or arrearage in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof without being liable for prosecution or any claim for damages therefor; and Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such term ination, whether through ina bility to relet the prem ises on satisfactory term s or otherwise. 18.2.2 Enter upon and take possession of the Premises, without terminating this Lease, and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, without being liable for prosecution or any claim for damages therefor, and, jf Landlord so elects, relet the premises on such terms and for such purposes as Landlord may deem advisable and receive the rent therefor, and Tenant agrees to pay to Landlord on demand any deficiency that may arise by reason of such reletting, and in no event shall Tenant be entitled to any excess of any rent obtained by reletting over the sums for which Tenant is obligated hereunder. Actions may be brought from time to time to collect Rent prior to the expiration of the Term. 18.2.3 Enter upon the Premises, without being liable for prosecution or any claim for damages therefor, without being obligated to do so and without thereby waiving such default, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to relmburse Landlord on demand for all costs and expenses (including reasonable attorney's fees) which Landlord may incur in thus effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall nol be liable for any damages resulting to Tenant from such action. In the event Landlord elects to re-enter or repossess the Premises after Tenant's default, Tenant hereby waives notice of such re-entry or repossession and of Landlord's intent to re-enter or retake possession and grants to Landlord full and free license to alter or change locks or security devices on the Premises. Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies herein provided or provided by law, nor shall pursuit of any other such remedy constitute a forfeiture or waiver of any Rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of De~ault shall not be deemed or construed to constitute a waiver of such default. The loss or damage whIch Landlord may suffer by reason of termination of this Lease or the deficiency arising by reason of any reletting by Landlord as above provided, shall include the expenses of repossession, brokerage fees and the cost of any repairs, alterations, additions, or remodeling undertaken by Landlord following repossession. 18.2.4 Accelerate the Rents for the remainder of the Term and declare any and all Rents for the remainder of the Term immediately due and payable. Tenant hereby waives any right to demand and/or notice, including, but not limited to, notice of default, notice of intent to accelerate and/or notice of acceleration. ' 18.2.5 Terminate any and all remaining option periods on or under this Lease. 18.2.6 Exercise any and all other rights and remedies granted to Landlord under this Lease. 18.2.7 . The service of any notice of.termination or demand for possession, institution of any action for forCIble det~lner or the entry of a Judgment for possession in such action, or any other act or acts shall not constitute an election of remedies on the part of Landlord nor result in the termination of Tenants obligations to pay all Rent hereunder during the balance of the Term or any extension Page -6- ~