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bankruptcy or has a petition filed against Lessee in bankruptcy, insolvency, or for reorganization or appointment of a receiver or trustee which is not dismissed within sixty (60) days; (v) or Lessee petitions for or enters into an arrangement for the benefit of creditors, or suffers this Lease to become subject to a writ of execution and such writ is not released within thifty (30) days. If the nature of Lessee's obligation is such that more than thirty (30) days are reasonably required for performance or cure or a different time for performance is specified, Lessee shall not be in default if Lessee commences performance within such thirty (30) day or specified period and thereafter diligently prosecutes the same to completion. 12.2 Remedies. Upon any default by Lessee under this Lease and subject to Section 12, Lessor may aI any time pursue any or all remedies available to Lessor, including, but not limited to, the following: (i) perform in Lessee's stead any obligation that Lessee has failed to perform, and Lessee shall promptly pay to Lessor all costs incured by Lessor for such performance, together with interest and service fees for any past due amounts (as provided in Section 3.2) and an administrative charge equal to twelve percent (12%) of the cost incurred by Lessor which the parties agree is a reasonable estimate of and liquidated damages for Lessor's overhead expenses associated with such performance; (ii) terminate Lessee's rights underthis Lease upon delivering awritten notice of termination; and (iii) re-enter and take possession of the Premises by any lawful means with or without terminating this Lease. Lessee shall pay all costs and damages arising out of Lessee's default, including, but not limited to, the cost of recovering possession of the Premises, the cost of improving and reletting the Premises, including, but not limited to, any real estate broker fees or marketing costs, and attorneys' fees and costs regardless of whether formal action is commenced or concluded. No action by Lessor or Lessor's Associates shall be construed as an election by Lessor to terminate this Lease or accept any surrender of the Premises unless Lessor provides Lessee with a written notice expressly stating that Lessor has terminated this Lease or accepted a surrender of the Premises. Following a default by Lessee under this Lease, Lessor shall exercise commercially reasonable, good faith efforts to mitigate its damages as required by applicable law. 12.3 Default by Lessor. Lessor shall not be in default under this Lease unless Lessor fails to perform an obligation required of Lessor under this Lease within thirty (30) days after written notice by Lessee to Lessor. If the nature of Lessor's obligation is such that more than thifty (30) days are reasonably required for performance or cure, Lessor shall not be in default if Lessor commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. 12.4 Survival. The provisions of this Section 12 and the remedies and rights provided in Section 7 shall survive any expiration ortermination of this Lease. 12.5 Holding Over. If Lessee remains in possession of the Premises and Improvements after any expiration or termination of this Lease, it shall be deemed that the Lessee has entered into such occupancy without the permission of Lessor. Such occupancy shall not waive any default under this Lease and Lessor may terminate such occupancy as a tenancy at sufferance. During such occupancy, Lessee shall comply with all provisions of this Lease LESSEE r^ArA 18 LESSOR