Nautilus 2009 Annual Report Download - page 257

State (the “UCC”) so that Landlord shall have and may enforce a security interest on all property of Tenant now or hereafter placed in or on the
Premises, including, but not limited to, all fixtures, machinery, equipment, furnishings and other articles of personal property now or hereafter
placed in or upon the Premises by Tenant. Landlord, as secured party, shall be entitled to all of the rights and remedies afforded a secured party
under the UCC in addition to and cumulative of Landlord’s liens and rights provided by law or by the other terms and provisions of this Lease,
and Landlord shall have the right to file a Financing Statement reflecting such lien.
ARTICLE 23
HOLDING OVER
If after expiration of the Term, Tenant remains in possession of the Premises, Landlord may, at its option, serve notice upon Tenant that such
hold-over constitutes either: (a) a month-to-month tenancy upon all the provisions of this Lease (except as to Term and Base Rent); or (b) a
tenancy at sufferance. If Landlord does not give said notice, Tenant’s hold-over shall create a tenancy at sufferance, subjecting Tenant to all the
covenants and obligations of this Lease. In either event, the monthly installments of Base Rent shall be increased to one hundred fifty
percent (150%) of the monthly installments of Base Rent in effect at the expiration of the Term. If a month-to-month tenancy is created, either
party may terminate such tenancy by giving the other party at least thirty (30) days advance notice of the date of termination. In the case of a
month-to-month tenancy or tenancy at sufferance, if Tenant shall hold over without the consent of Landlord after Landlord has given Tenant
thirty (30) days prior written notice of termination, then Tenant shall also protect, defend, indemnify and hold Landlord harmless from all claims,
losses, costs and expenses resulting from retention of possession by Tenant, including, without limiting the generality of the foregoing, any
claims made by any succeeding tenant founded upon such failure to surrender and any lost rents or profits to Landlord resulting therefrom. The
provisions of this Article shall not constitute a waiver by Landlord of any right of re-
entry as otherwise available to Landlord, nor shall receipt of
any rent or any other act appearing to affirm the tenancy operate as a waiver of the right to terminate this Lease for a breach by Tenant hereof.
ARTICLE 24
SURRENDER OF PREMISES
24.1 Upon the expiration or earlier termination of this Lease, Tenant shall peaceably surrender the Premises to Landlord broom-
clean
and in the same condition as on the date Tenant took possession, except for (a) reasonable wear and tear; (b) loss by fire or other casualty; and
(c) loss by condemnation. All fixtures, equipment, improvements, and appurtenances attached to or built into the Premises at the commencement
of or during the Term, whether or not by or at the expense of Tenant, other than Tenant’s Property, shall be and remain a part of the Premises,
shall be the property of Landlord, and shall not be removed by Tenant, except as directed by Landlord. Tenant shall not be required to remove
any leasehold improvements unless (i) such removal is necessary to ensure that the Premises comply with applicable code at the time of
surrender, including but not limited to removal of wires located in risers and plenums without raceways or conduits; (ii) they were made without
the consent of Landlord; or (iii) Landlord notified Tenant that removal would be required at the time Landlord approved Tenant’s plans therefor.
Tenant’s Property shall be and shall remain the property of Tenant and may be removed by Tenant at any time during the Term; provided that, if
any of Tenant’s Property is removed, Tenant shall promptly repair any damage to the Premises resulting from such removal. Internal floor
coating/concrete hardener shall be left in sealed condition, including, without limitation, any areas that may be damaged by removal of Tenant’s
fixtures. All interior walls should be left in good condition, and any holes from removal of Tenant’s fixtures must be patched.
24.2 If Tenant abandons or surrenders the Premises or is dispossessed by process of law or otherwise, any of Tenant’s Property left
on the Premises shall be deemed abandoned, and, at Landlord’s option, title shall pass to Landlord under this Lease as by a bill of sale. If
Landlord elects to remove all or any part of such Tenant’s Property, the reasonable cost of removal, storage and disposal of Tenant’s Property,
including, without limitation, repairing any damage to the Premises or Building caused by such removal, shall be paid by Tenant. On the
Expiration Date, Tenant shall surrender all keys, parking cards and other means of entry to the Premises (including, without limitation, the
Buildings) and shall inform Landlord of the combinations and access codes for any locks and safes located in the Premises. It is specifically
agreed that any and all telephonic, coaxial, ethernet, or other computer, word processing, facsimile, or electronic wiring (“Telecom Wiring”) and
any other components of Tenant’s Telecommunications System shall be removed at Tenant’s cost at the expiration of the Term, unless Landlord
has specifically requested in writing that the Telecom Wiring shall remain, whereupon the Telecom Wiring shall be surrendered with the
Premises as Landlord’s property.
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