The motion court properly held that the terms of the lease permit defendant-landlord, after termination of the lease, to draw on the letters of credit given by plaintiff/lessee as a security deposit. There is no dispute that the lease was properly terminated after plaintiff defaulted upon payment of rent. Section 22.10 of the lease expressly provides that the landlord's rights shall be cumulative and that use of one remedy would not preclude the simultaneous or subsequent...
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