2003-05-16_REVISION - M1977347 (2)

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~.-.:~-i9-=;~ Tu'c 4:ic Phi '~9YATT AND MARTELL LLC FAX NQ 970 484 1170 P. 7 reasonable attorney's tees, which the Landlord may suffer or be put to by reason of any such claims, liens, demands, charges, encum- brances, or litigation. Zf the Tenant desires to contest any such claim or lien, the Tenant may do so after satisfactorily Indemnify- ing the Landlord against lose or expense thereon, in which event, the Landlord shall not have the right to pay such claim or lien. In the event the Tenant shall fail to pay and fully discharge any claim, lien, demand, charge, encumbrance, or litigation, or should proceedings be instituted for the foreclosure of any lien or encumbrance, the Landlord shall have the right, at the Landlord's option, at any time after the expiration of the 60-day period, to pay the same or any portion thereof, with or without the costs and expenses claimed by such claimant; and in making such payment, the Landlord shall be the sole judge of the legality thereof. All amounts so paid by the Landlord shall be repaid by the Tenant to the Landlord upon demand, together with interast thereon at the rate of twelve percent (12$) per annum from the date of payment by the Landlord until repayment is fully made. (b) pets n~al Ini _ ies Violation ofd. The Tenant shall indemnify the Landlord and the Leased Premises against any cost, liability, or expense arising out of any claims of any person or persons whatsoever by reason of the use of the Leased premises by the Tenant and shall indemnify the Landlord against any penalty, damage, or charge incurred by reason of any violation of law or ordinance by the Tenant. 14. Subordination of Lease. The Tenant shall execute any instrument permitting a mortgage or deed of trust to be placed on the Leased premises or any part thereof as security for any indebtedness and subordinating this Leases to such mortgage or deed of trust if required to do so by the secured party; provided that such secured party agrees in writing to honor this Lease in the event of default in the secured debt. 15. Hgld na Over. No holding over and continuation of any business by the Tenant after the expiration of the term hereof shall be considered to be a renewal or extension of this Lease unless written approval of such holding over and a definite agreement to such effect is signed by the Landlord, defining the length of such additional term. Any holding over without the consent of the Landlord shall be considered to be a month-to-month tenancy at a rental equal to the monthly rental at the time such holding over commences. 16. Default. If the rental reserved by this Lease or other charges to be paid hereunder by the Tenant, or any part thereof, are not paid when due and shall remain unpaid for a period of fifteen (15) days after notice thereof in writing, or if the Tenant 6