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payments, annual payments shall be made in the amount of $ in advance for <br />each 12 month period. <br />a. Method of Payment: Rent is payable to Manager by check or credit card. Manager <br />reserves the right to require the form of payment of rent to be by check, certified or <br />cashier's check or money order. Cash is an unacceptable form of payment without the <br />Manager's prior written consent. <br />b. Place of Payment: Unless this lease provides otherwise, Tenant will remit all amounts <br />due to Manager under this lease to the following person or entity at the place stated <br />and make all payments payable to the named person or entity. Landlord or Manager <br />may later designate, in writing, another person or place to which Tenant must remit <br />amounts due under this lease. <br />Texas Aviation Partners <br />1807 Airport Drive Suite 200 <br />San Marcos, TX 78666 <br />c. Late Charges: Tenant's failure to pay sums due hereunder promptly may cause Landlord <br />or Manager to incur unanticipated costs. The exact amount of such costs is impractical <br />or difficult to ascertain. Such costs may include, but are not limited to, processing and <br />accounting charges. Therefore, if Manager does not receive a rent payment in the full <br />amount at the designated place of payment by 5:00 p.m. CST on the 5` day of the <br />month in which it is due, Tenant will pay Manager for each late payment: <br />i. An initial late charge equal to $25.00; and <br />ii. Additional late charges of $10.00 per day thereafter until rent and late charges <br />are paid in full. Additional late charges may not exceed more than 15 days in <br />any one month. <br />iii. Provided, however, that if the foregoing late charge would be deemed in <br />violation of the law, such amount shall be equal to an amount determined by <br />multiplying the amount of monthly rent times the highest rate of interest per <br />annum allowed under applicable law. The parties agree that the late charge set <br />forth herein represents a fair and reasonable estimate of the costs Landlord will <br />incur by reason of such late payment. <br />Returned Checks: In addition to the foregoing late charges, Tenant shall reimburse Manager or <br />landlord for each check Tenant tenders to Manager that is returned or not honored by the <br />institution on which it is drawn for any reason. Tenant must make any returned check good by <br />paying such amount(s) plus any associated charges in certified funds. Any sums required to be <br />