RES 069 Draft 01 2012-2014 - Laserfiche WebLink

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lease terms, covenants, conditions, and agreements, the full amount of the bond shall be paid to the Lessor as liquidated and ascertained damages and not as a penalty. 19 . Lessor' s lien. The Lessor shall have a lien on all the buildings and improvements placed on the premises by the Lessee, on all property kept or used on the premises, whether the same is exempt from execution or not and on the rents of all improvements and buildings located on the emises for all Lessor' s costs, attorney' s fees, rent r-i- v , for all taxes and assessments paid by the Lessor on beh. . bet-1;0i th'- Lessee, and for the payment of all money provided in isM -ase to be paid by the Lessee, and this lien shall contin - u it t" - amounts due are paid. k 20 . Mortgage. Exc- as provided in t s lease, the Lessee shall not mortgage, h •o cat or pledge t emises, any portion, or any interest in t "' 1: e without w prior written approval of the Director an* p y ortgage, -ypothecation, or pledge without the 4 oval shall . - null and void. Bitten consent of Upon due applic ion -;id with t - the Director, the Lessee ma , mort � •e this e-ase, or any interest, or c ,.,4-'4 „ securi ve t in he leasehold of the public land. the rtgage' d secur y: interest is to a recognized 1 �; g ins ' tution n eit lm the State of Hawaii or elsewhere in the mite. States, he. consent may extend to foreclo iw,� _nd sad,,- See ' s ,, , " erest at the foreclosure to any p ase ncl o, ng th _gee, without regard to whether or n. the purc ever . qualifi to lease, own, or otherwise acquire nd hold e la . or any interest . The interest of the mortgagee-71r holder" -hal b" • freely assignable. The term "holder" s 1 inclu - an ,;, surer or guarantor of the obligation or condition the mrtgage, including the Department of Housing and Urban Deve''a.men hrough the Federal Housing Administration, the Federal Natt;. a Mortgage Association, the Veterans Administration, t - mall Business Administration, Farmers Home Administration, or any other Federal agency and their respective successors and assigns or any lending institution authorized to do business in the State of Hawaii or elsewhere in the United States; provided, that the consent to mortgage to a non-governmental holder shall not confer any greater rights or powers in the holder than those which would be required by any of these Federal agencies . 21 . Breach. Time is of the essence in this agreement. If the Lessee shall fail to pay the rent, or any part thereof, at 7