15 - Grand Theater Management Agreement

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8/15/18 12.4. CITY's Ri hA _to Perform PROJECT's11111 — ,.Covenants. If PROJECT shall fail in the performance of any of its covenants, obligations or agreements contained in this LEASE, and such failure shall continue without PROJECT curing or commencing to cure such failure within all applicable grace and/or notice and cure periods, CITY after ten (10) days additional written notice to PROJECT specifying such failure (or shorter notice if imminent danger to the safety of persons or of substantial damage to property exists) may (but without any obligation to do so) perform the same for the account and at the expense of PROJECT, and the amount of any payment made or other reasonable expenses (including reasonable attorneys' fees incurred by CITY for curing such default), with interest thereon at the rate of twelve percent (12%) per annum or the highest rate then allowed by law, shall be payable by PROJECT to CITY on demand, or, if not so paid, shall be treated at CITY's option as a monetary default hereunder pursuant to and subject to all of provisions herein. 12.5. Notices.,. All notices, demands, payments and other communications required to be given or made hereunder shall be in writing and shall be duly given if delivered by hand, messenger, telecopy or reputable overnight courier or if mailed by certified or registered mail, first class postage prepaid, and shall be effectively received upon the date of such delivery or two (2) days after such mailing, to the respective parties hereto at the addresses set forth below, or to such other address furnished in writing to the other party hereto. If to PROJECT: President Paris Grand Theater Project P. O. Box 1934 35 South Plaza Paris, TX 75461-1934 If to CITY: City Manager City of Paris P. O. Box 9037 Paris, TX 75461-9037 12.6. Su,c,pessors and AssigLs. Except as expressly provided herein, this LEASE may not be assigned without the prior written consent of the other Party hereto. Subject to the foregoing, this LEASE shall be binding upon and shall inure to the benefit of the parties and their permitted successors and assigns. 12.7. Amendment,, Except as expressly provided herein, neither this LEASE nor any term hereof may be amended, modified, altered, waived, discharged or terminated, except by a written instrument dated subsequent to the date of this LEASE, and duly executed by the parties to this LEASE. 12.8. Headings an, dwSubheadings. The headings of the articles, sections, paragraphs and subparagraphs of this LEASE are for convenience or reference only and in no way define, limit, extend or describe the scope of this LEASE or the intent of any provisions hereof. 12.9. Unavoidable Default and Delays. After the date of execution of this LEASE, the time within which any party to this LEASE shall be required to perform any act under this LEASE shall be extended 14