2002 - 05-20-02 Regular Meeting - Laserfiche WebLink

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01 ruac 18 PAGE $6s plus fifteen percent (15%) of the monthly base rental amount. All other terms and conditions of this Lease shall continue in full force and effect during such tenancy, which shall be terminable by either party upon the delivery of fifteen (15) days prior written notice. (c) Tenant shall vacate the Premises in the same good repair as received on the Commencement Date, ordinary wear and tear excepted, and provided Tenant is not in default under the terms hereof, shall remove from the Premises all Tenant's personal property in order that the Landlord can repossess the Premises on the day this Lease or any extension hereof expires or is sooner terminated. Any removal of Tenant's property by Tenant shall be accomplished in a manner which will minimize any damage or injury to the Premises, and any such damage or injury shall be forthwith repaired by Tenant at its sole cost and expense. 3. RENT. (a) Tenant shall pay to Landlord as base rent, without notice or demand and without abatement deduction or setoff, except as elsewhere provided herein, the total sum of Fifty-Eight Thousand Two Hundred Forty Dollars ($58,240.00), or Eight Dollars ($8.00) per square foot of 7,280 rented space per year. Said base rent shall be paid in advance in equal monthly installments of Four Thousand Eight Hundred Fifty- Three Dollars ($4,853.00) on the first day of each and every calendar month during the term of this Lease; provided, however, that in the event the term hereof commences a day other than the first day of a calendar month, then upon the Commencement Date hereof Tenant shall pay to the Landlord a pro-rata portion of rent to that portion of the calendar month remaining from the Commencement Date to the first day of the next following calendar month. (b) The base rent as set forth above shall be increased annually, commencing with the date twelve (12) months after the Commencement Date of the term (the "Adjustment Date"), by the increase, if any, of the Consumer Price Index for U.S. Cities "Urban Wage Earners and Clerical Workers", "All Items" ("Index") as published by the United States Department of Labor Bureau of Labor Statistics, over the "'Base Period Index". The "Base Period Index" shall be the Index for the calendar month immediately preceding the Commencement Date. The Base Period Index shall be compared with the Index for the same calendar month for the subsequent year ("Comparison Index"). If the Comparison Index is higher than the Base Period Index, then the base rent shall be increased by the identical percentage commencing on the adjustment date. Notwithstanding the foregoing, in no event shall the adjusted rent be less than the rent in effect immediately prior to the adjustment. When the adjusted rent for the adjustment date has been determined, Landlord shall give Tenant written notice of such adjusted rent, and upon adjustment of the rent, any under payment of rent from the adjustment date to the date Tenant is notified of the adjustment, shall be immediately due and payable by Tenant. Landlord's failure or delay to notify Tenant of said rent adjustment shall not constitute a waiver of the right to any adjustment provided for in this Lease. In the event that the hrdex shall be discontinued, then Landlord shall use an index substantially similar to the Index to calculate future adjustments. 2