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bankruptcy or has a petition filed against l,esscc in bankruptcy, insolvency, or fbr reorganization or appointmcnt of a rcce iver or trustee which is not distnissed within sixty (60) days; (v) or Lesscc petitions lor or enters into an arrangernent tbr the benctit of creditors, or suflfers this Lcasc to bccomc sub.iect to a writ of cxecution and such writ is not released within thifty (30) days. lf the nature of l.essee's obligation is such that ntore than thirty (30) days are reasonably required fur porftirrnance or cul'e or a diffcrcnt time flor perlormancc is specified, Lessee shall not be in default if Lesscc comrnences performance within such thirty (30) day or specified period and thereaflcr diligcntly prosecutes the same to completion. 12.2 Rcmedies. Upon any de{ault by Lcsscc urrder this Lease and subject to Section 12, Lessor may al any time pursue any orall remedies available to Lessor, including, but not limited to, the following: (i) perfonn in Lesssc's stcad any obligation that Lessee has failed to pcrforrn, and l.essec shall prornptly pay to Lessor all costs incumed by Lessor fbr such perforrnance, together with interest and service fees for any past due amounts (as provided in Section 3.2) and an administrative charge equal to twclvc pcrccnt (l2o/o) of the cost incurred by l.essor which the parties agrec is a reasonable estimate of ancl liquidated damagcs for Lessor's overhead expenses associated with such performance; (ii) tcrminatc Lessee's rights under this Leasc upon delivering awritten notice of termination; and (iii) re-enter and take possession of the Premiscs by any lawFul rneans with or without terminatirrg this Lease. l-cssee shall pay all costs and damages arising out of Lessee's dcfault, including, but not limited to, the cost of recovering possession of thc Premises, the cost of irnproving and leletting thc Premises, including, but not limited to, any real estatc bruker fees or rnarketing costs, and attorneys' fces and costs regardless of whether Formal action is commenced or conctuded. No action by Lessor or Lessor's Associates shall be construed as an election by Lessor to t€rminate this Lease or accept any surrender of the Prcmises unless Lessor provides Lessee with a written notice expressly stating that l.essor has terminated this Lease or accepted a surrender of the Premises. Following a default by l.essee under this Lease, Lcssor shall exercise commercially reasonable, good faith etfofts to mitigate its damagcs as required by applicable law. 12.3 Default by Lessor. Lessor shall not be in defhult under this Lease unless Lessor fails to perform an obligation required of Lessor under this Lcase within thirty (30) days after written notice by l,essee to Lessor, lf the nature of Lessor's obligation is such that morc than thirty (30) days are reasonably required for pcrforrnancc ot cure, Lessor shall not be in dcfault if Lessor commences performance within such thirty (30) day period and thereafter diligently prosecutcs the same to completion, 12.4 Survival.'fhe prcvisions of this Section 12and the remedies and rights pr<lvided in Section 7 shall survive any expiration or termination of this l,ease. 12.5 Holding Ovcr. If Lessee remains in possession of the Prernises and Improvements after any expiration or tcrmination of this Lcasc, it shall be deemed that the Lessee has entcrcd inlo such occupancy without the pcrmission ol'Lessor, Such occupancy shall not waive any default undcr this l,ease and Lessor may terminate such occupancy as a tenancy at sufferance. During such occupancy, Lessee shall comply with all provisions ofthis l,ease L tAA rA,\ l8 nsson-F:J-