Colorado Commercial Lease Agreement Form Page 7
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9other charges payable under this Lease have been paid, stating that Landlord
is not in default hereunder (or if Tenant alleges a default stating the nature of
such alleged default) and further stating such other matters as Landlord shall
reasonably require.
Security Deposit.
Landlord shall hold the Security Deposit without liability for interest and as
security for the performance by Tenant of Tenant's covenants and obligations
under this Lease, it being expressly understood that Tenant shall not consider
the Security Deposit an advance payment of rent or a measure of Landlord's
damages in case of default. Unless otherwise provided by law or regulation,
Landlord may commingle the Security Deposit with Landlord' s other funds.
Landlord may, from time to time, without prejudice to any other remedy, use
the Security Deposit to the extent necessary to make good any arrearages of
rent or to satisfy any other covenant or obligation of Tenant hereunder.
Following any such application of the Security Deposit, Tenant shall pay to
Landlord on demand the amount so applied in order to restore the Security
Deposit to its original amount. If Tenant is not in default at the termination of
this Lease, Landlord shall return the balance of the Security Deposit
remaining after any such application to Tenant.
Notice.
Any notice required or permitted under this Lease shall be deemed sufficiently
given or served if sent by South African certified mail, return receipt
requested, addressed as follows:
Landlord:
Tenant:
Landlord and Tenant shall each have the right from time to time to change the
place notice is to be given under this paragraph by written notice thereof to
the other party.
Brokers.
Tenant represents that Tenant was not shown the Premises by any real
estate broker or agent and that Tenant has not otherwise engaged in, any
activity which could form the basis for a claim for real estate commission,
brokerage fee, finder's fee or other similar charge, in connection with this
Lease.
Waiver.
No waiver of any default of Landlord or Tenant hereunder shall be implied
from any omission to take any action on account of such default if such
default persists or is repeated, and no express waiver shall affect any default
other than the default specified in the express waiver and that only for the
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