Res 1998-153 - Laserfiche WebLink

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VOL 19r:-. .~()9 ÙPAGEÙð .... Article 2. RentlTerm 2.01. Rental shall accrue trom the commencement date of this Lease, and shall be payable at the place designated for the delivery of notices to the Lessor in paragraph 16.01. 2.02. The Lessee agrees to pay to the Lessor a fixed rental in the sum of $0.1 0 per square foot per year for the entire area of the Leased Premises. The annual amount for the fixed rental shall be paid in equal monthly installments in the amount of$ 1,437.34, which shall be due and payable on the last day of each month for the succeeding month. The Lessee, at its option, may make advance payments of up to one year's rentals, but there will be no discount for these payments. The parties agree that the first two equal monthly installments of the fixed rental shall be abated, but all other fees due under this Lease shall be paid as required. For the duration of this Lease, the Lessee is authorized to claim a credit against these annual rental fees, and these fees only, in the direct order of maturity for~ 1) the cost of demolition and removal of existing concrete foundations and paved parking areas presently covering the Leased Premises that are specifically approved and authorized in advance by the Lessor as stated in Article 5 of this Lease, 2) the cost of extending, upsizing, upgrading, or otherwise improving any required utilities (water, wastewater, electric and telephone) to the boundary of the Leased Premises. Under no circumstances will the Lessor be responsible for the cost of any improvements made by the Lessee that exceed the fIXed rental fees due and payable during the term of this Lease. 2.03. As further consideration, the Lessee agrees to pay to the Lessor a percentage rental in the fonn of a monthly fee equal to one percent (1%) of the Lessee's gross income from all of the Lessee's commercial activity at the Leased Premises, excluding sales or services to federal, state or local governments or other tax exempt organizations or agencies. Payment, without deduction for facility improvements or any other capital outlay, is to be made within ten days of the last day of the previous month and shall be based on the Lessee's income during the previous month. 2.04. The Lessee agrees to pay to the Lessor a monthly fee for the use of tie-down or 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 Lessee or its employees, agents or customers. The facilities will be charged at the then established standard rental or use fee prescribed by the Lessor. 2.05. The Lessee shall provide to the Lessor, upon reasonable notice, all business records ne.cessary to verify the amount offees and/or percentage rental due under this Lease. 2.06. The Lessor agrees that the revenue derived from this Lease will be allocated toward maintenance and improvement of the Airport. This requirement is not mandatory however, unless it is required by existing indenture or agreement with the United States government. 2.07. Lessee agrees that should Lessee fail to pay, within 10 days after the date when due any rent or any other sum payable to the Lessor under the tenns of this Lease, interest at the lesser of eighteen percent (18%) per annum or the maximum legal rate then payable in the State of Texas, shall 2 ~ß ~.~