Fillable Illinois Commercial Lease Agreement (Page 4 of 5) in pdf

further covenant that any insurance they obtain on their respective properties shall contain an appropriate provision

whereby the insurance company, or companies, consent to the mutual release of liability contained in this paragraph.

DEFAULT AND REMEDIES . If: (a) Lessee fails to comply with any term, provision, condition or

26.

covenant of this Lease; (b) Lessee deserts or vacates the Premises; (c ) any petition is filed by or against Lessee under

any section or chapter of the Federal Bankruptcy Act, as amended, or under any similar law or statute of the United

States or any state thereof; (d) Lessee becomes insolvent or makes a transfer in fraud of creditors; (e) Lessee makes an

assignment for benefit of creditors; or (f) a receiver is appointed for Lessee or any of the assets of Lessee, then in any

of such events, Lessee shall be in default and Lessor shall have the option to do any one or more of the following:

upon ten (10) days prior written notice, excepting the payment of rent or additional rent for which no demand or notice

shall be necessary, in addition to and not in limitation of any other remedy permitted by law, to enter upon the Premises

either with or without process of law, and to expel, remove and put out Lessee or any other persons thereon, together

with all personal property; and, Lessor may terminate this Lease or it may from time to time, without terminating this

Lease, rent said Premises or any part thereof for such term or terms (which may be for a term extending beyond the

Term) and at such rental or rentals and upon such other terms and conditions as Lessor in its sole discretion may deem

advisable, with the right to repair, renovate, remodel, redecorate, alter and change said Premises. At the option of

Lessor, rents received by Lessor from such reletting shall be applied first to the payment of any indebtedness from

Lessee to Lessor other than rent and additional rent due hereunder; second, to payment of any costs and expenses of

such reletting, including, but not limited, attorney’s fees, advertising fees and brokerage fees, and to the payment of

any repairs, renovation, remo deling, redecorations, alterations and changes in the Premises: third, to the payment of

rent and additional rent due and payable hereunder and interest thereon; and, if after applying said rentals there is any

deficiency in the rent and additional rent and interest to be paid by Lessee under this Lease, Lessee shall pay any such

deficiency to Lessor and such deficiency shall be calculated and collected by Lessor monthly. No such re-entry or

taking possession of said Premises shall be construed as an election on Lessor’s part to terminate this Lease unless a

written notice of such intention is given to Lessee. Notwithstanding any such reletting without termination, Lessor

may at any time terminate this Lease by reason of any default, in addition to any other remedy it may have, it may

recover from Lessee the worth at the time of such termination of the excess of the amount of rent and additional rent

reserved in this Lease for the balance of the Term over the then reasonable rental value of the Premises for the same

period. Lessor shall have the right and remedy to seek redress in the courts at any time to correct or remedy any default

of Lessee by injunction or otherwise, without such resulting or being deemed a termination of this Lease, and Lessor,

whether this Lease has been or is terminated or not, shall have the absolute right by court action or otherwise to collect

any and all amounts of unpaid rent or unpaid additional rent or any other sums due from Lessee to Lessor under this

Lease which were or are unpaid at the date of termination. If it is necessary for Lessor to bring any action under this

Lease, to consult with an attorney concerning or for the enforcement of any of Lessor’s rights, then Lessee agrees in

each and any such case to pay to Lessor, Lessor’s reasonable attorney’s fees. In addition to the remedies set forth

herein, Lessee shall pay a late charge in the amount of _________% of any payment due hereunder which remains

unpaid on the tenth day after same is otherwise due hereunder. Said late charge shall be deemed additional rent, and the

assessment or collection of same shall not limit or delay Lessor’s pursuit of any remedy arising hereunder upon

Lessee’s default.

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WAIVER. The rights and remedies of Lessor under this Lease, as well as those provided by law,

shall be cumulative, and none shall be exclusive of any other rights or remedies. A waiver by Lessor of any breach or

default of Lessee shall not be deemed or construed to be a continuing waiver of such breach or default nor as a waiver

of or permission, expressed or implied, for any subsequent breach or default. It is agreed that the acceptance by Lessor

of any installment of rent subsequent to the date the same should have been paid shall not alter the covenant and

obligation of Lessee to pay subsequent installments of rent promptly upon the due date. Receipt by Lessor of partial

payment after Lessee’s default shall not be construed to be or constitute a cure of any such default. No receipt of

money by Lessor before or after the termination of this Lease shall in any way reinstate, continue or extend the term

above demised.

TOXIC OR HAZARDOUS MATERIALS . Lessee shall not store, use or dispose of any toxic or

hazardous materials in, on or about the Premises without the prior written consent of Lessor. Lessee, at its sole cost,

shall comply with all laws relating to Lessee’s storage, use and disposal of hazardous or toxic materials. Lessee shall be

solely responsible for and shall defend, indemnify and hold Lessor, its agents and employees, harmless from and

against all claims, costs and liabilities, including attorney’s fees and costs, arising out of or in connection with the

storage, use or disposal of any toxic or hazardous material in, on or about the Premises including, but not limited to,

removal, clean-up and restoration work and materials necessary to return the Premises, and any other property of

whatever nature located on the Premises, to their condition existing prior to the appearance of toxic or hazardous

materials on the Premises. Lessee’s obligations under this paragraph shall survive the termination of this Lease.

29.

REAL ESTATE COMMISSION. Upon execution of this lease by both Lessor and Lessee, Lessor

shall pay a real estate commission to ______________________________________________________ (Lessor’s

Broker”), in the amount of _____________(___%) percent of the total rentals and other payments due under this

lease to be paid during the term hereof. A commission in the amount of ________________________(_____%) shall

be paid to the Broker named above upon the commencement of any extension and/or renewal of the lease term and

upon commencement of any enlargement or substitution of the leased premises. In the event that the leased premises

are purchased by the Lessee, Lessor shall pay the Broker named above a sales commission of _____________

(____%) of the sale price, but Lessor shall receive credit for lease commissions previously paid by Lessor based upon

rents which would have been received by Lessor but for the said purchase by Lessee. The parties hereto acknowledge

that this provision is intended for the benefit of said named real estate Broker, and may be enforced by them as third

party beneficiaries hereto. This provision shall bind successors and assigns of the parties hereto and may not be

amended without written consent of said Broker.

The parties agree that this lease was negotiated by the following Broker(s)

Illinois Commercial Lease Agreement Page 4

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