Res 2010-062 - Laserfiche WebLink

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check. Payments of any kind received by Lessor on behalf of Lessee shall be applied first to non- rent items, then to rent. Lessee's right to possession and all of Lessor's obligations hereunder are expressly contingent on the prompt payment of rent, and the use of the Premises is obtained only on the condition that rent is paid on time. Payment of rent by Lessee shall be an independent covenant. In the event Lessee has not timely paid rentals and other sums due on two or more occasions, or in the event of a returned check for insufficient funds or no account, Lessor may thereafter require that all rent and other sums due be paid by cashier s check, certified check, or money order, by giving written notice to Lessee of such requirement. 2.2 Additional Rents. Lessee agrees to pay the following as additional rents under the same terms and conditions as the Base Rent described in Paragraph 2.1: (a) Operating Expense. [Paragraph Deleted.] (b) Insurance. [Paragraph Deleted.] (c) Taxes. Begininng with the rent due for Janurary 2011 and then once each calendar year, Lessor shall calculate Lessor's cost of ad valorem taxes and other governmental assessments and charges ( "Taxes ") on the Development (the "Tax Costs "). Lessee shall pay to Lessor as additional rent each month one - twelfth of Lessee's pro rata share of estimated Tax Costs which are in excess of the Base Year Cost of Taxes. The Base Year Cost of Taxes for the Development is agreed to be an amount equal to $16,179.09. Lessee's pro rata share of the cost of Taxes on the Development shall be computed by multiplying the amount of increase in the Tax Costs from the Base Year Cost of Taxes by a fraction, the numerator of which shall be the Caldwell County Central Appraisal District's valuation of the building comprising the Leased Premises and the denominator of which shall be the sum of the Caldwell County Central Appraisal Districts valuation of the five buildings comprising the Development. Lessee shall not be responsible for payment of any portion of assessments and charges arising from Lessor's delinquent payment of Taxes. Any excess of Lessee's payment of its pro rata share of estimated Taxes above the actual Taxes for any applicable tax year shall be credited toward any amounts due from Lessee in the succeeding year. (d) Rental Adjustments in General. The information required to calculate any Additional Rents from Taxes is publicly available on the Caldwell County Central Appraisal District's website. Should such information cease to be publicly available, then Lessor shall provide within 10 days any such information in Lessor's possession to Lessee upon Lessee's written request. 2.3 Monthly Payment. Lessee's Monthly Payment shall be equal to the Base Rent plus all Additional Rents described in Paragraph 2.2. 2.4 Place and Time of Payment. All payments of rent and other sums shall be made by Lessee to Lessor at such address as Lessor may designate in writing. Unless payment in person at the place for payment is not feasible, payment may be made in person by hand- delivery to an authorized agent of Lessor at such place for payment. Payment by mail shall be deemed made as of the date of mailing evidenced either by a postmark or similar receipt from any postal or mail delivery service. Rent and late payment penalties shall be due and paid without demand in accordance with Paragraph 2.1. Unless otherwise specifically provided, all other sums payable by Lessee under t 's Lease shall be due upon delivery of written notice to Lessee in accordance with Paragraph egarding notices. Failure to pay rent or other sums shall subject Lessee to the default ons in Paragraphs 19.1 and 20.1. Lessor- ] 2 Lessee: W.I.C. Lease