Res 2011-093 - Laserfiche WebLink

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Article 2. Rent/Term /Security Deposit 2.01. Rental shall accrue from the commencement date of this Lease, and shall be payable at the place designated for the delivery of notices to the Landlord in paragraph 15.11. 2.02. Except for any notice or demand expressly required in this Agreement, the Tenant shall pay to the Landlord a fixed rental in the sum of $0.15 per square foot per month for the Leased Premises (Base Rent). Beginning five (5) years from the Commencement Date the Rent will be increased by a flatten percent (10 %). The Leased Premises is 6,380 sq. ft. The monthly rent, which is based on the square footage, is $957.00. The first month's rent shall be due and payable concurrently with Tenant's execution of this Agreement. Each installment thereafter is due and payable on or before the first day of each month while this Agreement is in effect. If the date of this Agreement is a date other than the first day of a calendar month, there shall be due and payable on or before such date prorated rental for the balance of the first month. The Tenant, at its option, may make advance payments of up to one year's fixed rentals, but there will be no discount for these payments. a. Method of Payment: Rent is payable to Manager by check. Manager reserves the right to require the form of payment of rent to be by check, certified or cashier's check or money order. Cash is an unacceptable form of payment without the Manager's prior written consent. b. Place of Payment: Unless this lease provides otherwise, Tenant will remit all amounts due to Manager under this lease to the following person or entity at the place stated and make all payments payable to the named person or entity. Landlord or Manager may later designate, in writing, another person or place to which Tenant must remit amounts due under this lease. Texas Aviation Partners 1807 Airport Drive San Marcos, TX 78666 c. Late Charges: Tenant's failure to pay sums due hereunder promptly may cause Landlord or Manager to incur unanticipated costs. The exact amount of such costs is impractical or difficult to ascertain. Such costs may include, but are not limited to, processing and accounting charges. Therefore, if Manager does not receive a rent payment in the full amount at the designated place of payment by 5:00 p.m. on the 5"' day of the month in which it is due, Tenant will pay Manager for each late payment: i. An initial late charge equal to $25.00; and 3 Tenant A *andlord: