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<br />(c) failure or refusal by Grantee to timely perform or observe any other covenant, duty or obligation of Grantee
<br />under this Easement; provided, however, notwithstanding the occurrence of such Event of Default, Grantor
<br />shall not be entitled to exercise any of the remedies provided for in this Easement or by law unless such
<br />Event of Default continues beyond the expiration of thirty (30) days following notice to Grantee of such
<br />Event of Default;
<br />(d) abandonment or vacating of the Premises or any significant portion thereof;
<br />( e) the entry of an order of liquidation, reorganization or adjustment of debts in bankruptcy or similar order
<br />affecting Grantee; and
<br />(t) the entry of a court order requiring the dissolution, winding up, or termination of Grantee's business affairs.
<br />
<br />15.02. This Easement and the term and estate hereby granted and the demise hereby made are subject to the limitation
<br />that if and whenever any Event of Default shall occur, after such notice, if any, as is provided in Section 16.01, Grantor
<br />may, at its option, in addition to all other rights and remedies provided hereunder or in law or equity, do anyone or more
<br />of the following:
<br />
<br />(a) forfeit this Easement by sending written notice of such forfeiture by United States Mail to the last known
<br />address of Grantee in the files of Asset Inspection of the General Land Office, in which event, this Easement
<br />shall terminate and Grantee shall immediately surrender possession of the Premises to Grantor (and
<br />termination shall not prejudice the rights of Grantor for any claim of payments due);
<br />(b) enter upon and take possession of the Premises and expel or remove Grantee and any other occupant
<br />therefrom, with or without having terminated the Easement; or
<br />( c) alter locks and other security devices, if any, at the Premises.
<br />
<br />15.03. Exercise by Grantor of anyone or more remedies hereunder granted or otherwise available shall not (i) be deemed
<br />a waiver by Grantor of any other remedy available to it, or (ii) be deemed to be an acceptance of surrender of the Premises
<br />by Grantee, whether by agreement or by operation of law.
<br />
<br />15.04. In the event of termination of this Easement or of Grantee's right to possession of the Premises or repossession of
<br />the Premises for an Event of Default, Grantor shall not have any obligation to seek a new use for the Premises, or any
<br />portion thereof, or to collect rental for a new use (if any); but Grantor shall have the option to seek a new use for the
<br />Premises, and in the event of a new use, Grantor may grant and easement across or otherwise dispose of an interest in the
<br />whole or any portion of the Premises for any period, to any grantee, and for any use and purpose.
<br />
<br />ARTICLE XVI. Notice
<br />
<br />16.01. Any notice which mayor shall be given under the terms of this Easement shall be in writing and shall be either
<br />delivered by hand or sent by United States Registered or Certified Mail, adequate postage prepaid, if for Grantor to the
<br />General Land Office, Deputy Commissioner, Asset Inspection, addressed to his attention, 1700 North Congress
<br />Avenue, Austin, Texas 78701-1495, and if for Grantee, to it at City of La Porte, P.O. Box 1115, La Porte, TX 77572-
<br />1115. Either party's address may be changed from time to time by such party by giving notice as provided above,
<br />except that the Premises may not be used by Grantee as the sole notice address.
<br />
<br />ARTICLE XVII. Non-Waiver
<br />
<br />17.01. Neither acceptance of Rent or any other sums payable by Grantee hereunder, or any portion of either, nor failure
<br />by Grantor to complain of any action, non-action or default of Grantee shall constitute a waiver as to any breach of any
<br />covenant or condition of Grantee contained herein nor a waiver of any of Grantor's rights hereunder.
<br />
<br />ARTICLE XVIII. Holdover
<br />
<br />18.01. If Grantee holds over and continues in possession of the Premises after expiration of the term of this Easement,
<br />Grantee will be deemed to be occupying the Premises on the basis of a month-t<r-month tenancy subject to all of the
<br />terms and conditions of this Easement, except that as liquidated damages by reason of such holding over, the amounts
<br />
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