Res 2011-093 - Laserfiche WebLink

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any) until this Agreement is terminated. e. Security Deposit The City agrees to waive the Security Deposit of $957.00 as additional security for Tenant's obligations to Landlord ( "Security Deposit ") on condition that Tenant timely pays the monthly rent and the Tenant is not in default of this Agreement. Such Security Deposit shall be equal to one monthly installment of rent. If at any time during this Agreement the Tenant fails to pay rent when due or is in default of any term or condition of this agreement then Tenant will be required to immediately post a Security Deposit with Landlord so that the Security Deposit being held by Landlord is equal to one monthly installment of rent. No interest shall be paid on the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts and no trust relationship is created with respect to the Security Deposit. Any interest from the Security Deposit shall be retained by Landlord. The Security Deposit is not an advance payment of rent or a measure of liquidated damages in case of default by Tenant. Upon the occurrence of any event of default, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use the Security Deposit to the extent necessary to make good any arrearages of rent and any other damage, injury, expense or liability caused to Landlord by such event of default, or to satisfy Tenant's other obligations hereunder. Following any such application of the Security Deposit, Tenant shall pay to Landlord, on demand, the amount so applied in order to fully restore the Security Deposit. If Tenant is not then in default, and no condition exists, which, with the passage of time or both, would constitute a default when this Agreement expires or terminates, except as otherwise provided for in this Agreement, Landlord will return any unused portion of the Security Deposit to Tenant within thirty (30) days after the last to occur of: (i) the Expiration Date, (ii) payment of all rent and any damages, (iii) Tenant's surrender of the Premises in accordance with this Lease, and (iv) Landlord's receipt of Tenant's forwarding address. Tenant's actual or attempted assignment, transfer, or encumbrance of the Security Deposit will not bind Landlord. 2.03 As further consideration, the Tenant agrees to pay to the Landlord a percentage rental in the form of a monthly fee equal to one percent (1 %) of the Tenant's gross income from all of the Tenant's commercial activity at the Leased Premises and any services provided to its customers at the Airport regardless of whether performed at the Leased Premises or at the customers' locations at the airport, excluding sales or services to federal, state or local governments or other tax exempt organizations or agencies. Payment is to be made within ten (10) days of the last day of the previous month and shall be based on the Tenant's income during the previous month. 2.04 The Tenant agrees to pay to the Landlord a monthly fee for the use of tie -down or any other Airport facilities for aircraft, motor vehicles or any other equipment or items which are outside of the Leased Premises and under the custody and control of the Tenant or its employees, agents or customers. The facilities will be charged at the then - established standard rental or use fee prescribed 5 Tenant:Aandlord: