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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 47 / 60

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FORM 19

EVENTS OF DEFAULT AND REMEDIES (LANDLORD ORIENTED)

Events of Default. The occurrence of any one of the following events shall constitute a material breach and default under this Lease by Tenant:

(a)

Tenant shall have failed to pay an installment of Basic Rent, Additional Rent or any other

amount payable hereunder when due, where such failure shall continue for a period of ten (10) days after written notice from Landlord to Tenant notifying Tenant of its failure to pay such amounts: provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under RCW 62.12, or any successor statutes thereto. Notwithstanding anything contained in this Section ____ to the contrary, in the event Tenant fails to pay an installment of Basic Rent or Additional Rent within such ten (10) day period following the written notice from

Landlord as provided above, Landlord shall, for the first time such failure occurs within any consecutive twelve (12) month period, provide Tenant with an additional three (3) day written notice before Tenant shall be deemed to be in default of this Lease.

(b) Tenant shall have failed to execute and deliver such documents as required by Sections and within the time periods specified, where such failure shall continue for a period of ____ three (3) business days after written notice thereof from Landlord; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under RCW 62.12 or any similar successor statute.

(c)

There shall be a default of any condition, covenant, agreement or other obligation on the

part of Tenant (other than monetary defaults described in Section ____hereof) to be kept, observed or performed hereunder, including the Rules and Regulations described on Schedule ____attached hereto, and such default shall be continuing for a period of more than thirty (30) days after written notice by Landlord to Tenant specifying the default and requiring that it discontinue: provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under RCW 62.12 or any successor statutes thereto; further provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period, Tenant shall not be deemed to be in default if Tenant shall within the time period set forth above commence such and thereafter diligently prosecute the same to completion;

(d)

if Tenant fails to comply with the requirements for insurance pursuant to Section

____

hereof or, if any policy of insurance upon the Property or any part thereof from time to time carried by Landlord shall be cancelled or about to be cancelled by the insurer by reason of the

use or occupation of the Premises by Tenant or any of Tenant's Employees, or anyone permitted by Tenant or such other parties to be upon the Premises or in, on or about the Project and Tenant after receipt of notice in writing from Landlord shall have failed to take such immediate steps as

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