Res 2011-093 - Laserfiche WebLink

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by the Landlord. 2.05 The Tenant shall provide access to the Landlord, upon reasonable notice, to all business records necessary to verify the amount of fees and /or percentage rental due under this Lease. If this Lease commences or terminates on a day other than the first day of a month, all monthly rents and fees payable by the Tenant for the first month under this Lease shall be prorated accordingly. 2.06. If the Tenant fails to pay any rent or any other sum payable to the Landlord under the terms of this Lease when due, then interest at the maximum legal rate in the State of Texas shall accrue from the date on which the sum became due and payable. 2.07. The Primary Term of this Lease will commence on August_, 2011 (the "Commencement Date ") and will extend for a period of ten (10) years ending on August 2021 (the "Expiration Date ") upon the terms, conditions, covenants and stipulations set forth herein. Landlord may, but is not required to, extend the term of this Lease for an additional five -year Term upon request of the Tenant submitted on the attached Extension Rider. The total number of extensions to the Term may not exceed four five -year Term extensions. The Lease Term may not be extended if. (1) the lease or Tenant's right to possession of the Premises is terminated, (2) Tenant assigns its interest in the lease or any portion of the Premises, (3) Tenant fails to timely exercise the extension, or (4) Tenant is in default under the Lease at the time Tenant seeks to extend the Term. 2.08. Holdover. Tenant shall vacate the Premises on or before the date this Agreement is terminated. If Tenant holds over and continues in possession of the Premises after any termination of this Agreement, Tenant will be deemed to be occupying the Premises as a tenant at sufferance, provided, however, that at Landlord's sole option (the exercise of which shall only be evidenced in writing by Landlord and which is given to Tenant), such holding over may be considered by Landlord as a month -to -month tenancy at will subject to all of the terms and conditions of this Agreement, except and provided that such tenancy at will shall: i) be terminable at any time; and ii) Tenant shall pay monthly rental in an amount equal to 150% of the monthly rent set by Landlord for lease renewals of comparable facilities owned by Landlord at Airport; and iii) Tenant will be liable to Landlord for all rent for the full term of any previously signed rental agreement of a new tenant who cannot take possession of the Premises because of the holdover. Article 3. Use and Care of Premises 3.01. The use of the Leased Premises by the Tenant shall be restricted to aviation repair purposes, unless otherwise approved in writing by the Landlord. Specifically, the Leased Premises shall be used and occupied for the business of operating an FAA repair station and for no other purposes without the advance written consent of the Landlord. The Tenant shall use the Leased Premises in good faith continuously for this purpose throughout the term of this Lease. The Tenant shall not 0 Tenant:Landlord: