|
<br /> in the assessed valuation thereof, or the levy, assessment or imposition of the real estate taxes or
<br /> special assessments as such not now levied, assessed or imposed, or as otherwise occasioned.
<br /> The tax year of any lawful authority commencing during any lease year shall be deemed to
<br /> correspond to such lease year. Landlord will periodically notify Tenant of Tenant's Share of the
<br /> Shopping Center's real property taxes, and Tenant's share of all such increases. If actual amounts
<br /> are unavailable, Landlord may estimate the amounts of such taxes.
<br /> (iii) Common Area and Other Maintenance Tvpe Expenses - In the event Landlord
<br /> provides maintenance, security, janitorial, cleaning and/or utility services or installs equipment
<br /> devices or material intended to reduce the operating expenses of the Shopping Center, or to
<br /> increase the safety of the Demised Premises or the Shopping Center or that are required by
<br /> governmental authority for the common areas in the Shopping Center of any portion of the
<br /> Demised Premises, then the cost to Landlord of providing such maintenance, security, janitorial ,
<br /> cleaning, utility seIVices, equipment andlor devices, together with a reasonable allowance for
<br /> overhead and depreciation of maintenance equipment. The nature and degree ofservices
<br /> rendered by Landlord in accordance with this subsection, if any, shall be in the sole discretion of
<br /> Landlord. Landlord may estimate such items in advance.
<br /> (iv) Utilities. Any utilities not separately metered to Tenant and other tenants of
<br /> the Shopping Center.
<br /> In connection with Additional Rent for insurance premiums, taxes and common area
<br /> maintenance under subsections (i), (ii) and (iii) above, if Landlord has estimated the amounts, Tenant's
<br /> Share will be adjusted based upon the actual amounts of premiums, taxes and expenses. Tenant will be
<br /> allowed a credit against future payments due for any estimated payments made in excess of Tenant's pro
<br /> rata share of actual costs. Tenant will pay within ten (10) days notice from Landlord any amounts due in
<br /> excess of estimated payments previously made.
<br /> C. Other Amounts. All other taxes, charges, costs and expenses with Tenant is
<br /> required to pay hereunder, together with all interest and penalties that may accrue thereon in the event of
<br /> Tenant's failure to pay such amounts, and all damages, costs and expenses which Landlord may incur by
<br /> reason of any default of Tenant or failure on Tenant's part to comply with the terms of this Lease, and the
<br /> interest upon unpaid obligations hereunder, shall all be deemed to be Additional Rent and, in the event of
<br /> nonpayment by Tenant, Landlord shall have all the rights and remedies with respect thereto as Landlord
<br /> has for the payment of the Basic Rent.
<br /> The Basic Rent, Additional Rent, Percentage Rent and all other amounts of whatever kind or
<br /> character payable to Landlord by Tenant hereunder (all hereinafter included in the tenD "rent") shall be
<br /> paid without notice of demand and without abatement, counterclaim, deduction, setoff or defense, and
<br /> shall bear interest at the rate of eighteen percent (18%) per annum (or the highest legal rate provided by
<br /> then controlling law if less than (18%) from the due date until paid).
<br /> The amount of the initial monthly installments of rent is computed as follows:
<br /> Basic Rent 1594sq. ft. atUhQ(j)¡cr sq. ft. = $15,300.00 annually
<br /> Additional Rent:
<br /> - Insurance _sq. ft. at_per sq. ft. = N/A
<br /> (Estimated) N/A
<br /> - Real Property _sq. ft. at_per sq. ft. =
<br /> Taxes (Estimated)
<br /> - Common Area _sq. ft. at_per sq. ft. = N/A
<br /> Maintenance ( Estimated)
<br /> -Other - sq. ft. at - per sq. ft. = -
<br /> Total Initial Monthly Installment of Rent = 1,275.00
<br /> Security Deposit. Additionally, Landlord has received the cash sum of $1 .275 as a security
<br /> deposit, which shall be held, used, credited andlor refunded without interest by Landlord such that upon
<br /> the occurrence of any Event of Default ( as hereinafter defined) by Tenant, Landlord may, from time to
<br /> time, by Tenant to the extent necessary to make good any arrears oCrent and any other damages, injury,
<br /> expanse or liability caused to Landlord by such event of default, and upon such application Tenant shall
<br /> pay Landlord on demand the amount so applied which shall be applied to the security deposit so that the
<br /> same shall be restored to its original amount. Such security deposit shall not be considered an advance
<br /> payment of rent or measure of Landlord's damages in case of default by Tenant. Landlord shall not be
<br /> obligated to hold Ihe security deposit as a separate fund or to pay Tenant any interest thereon, but may
<br /> commingle it with other funds. If Tenant shall faithfully perform all of the covenants and agreements of
<br /> Tenant contained in this Lease, the security deposit or any then remaining balance thereof, shall be
<br /> returned to Tenant, without interest, within thirty (30) days after the expiration of this lease.
<br /> 2/12 Landlord:
<br /> Tenant:
<br />
|