2007 - 08-13-07 Regular Meeting - Laserfiche WebLink

Home Browse Search

W 0 BOOK 21 PAGE 764 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. 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 Index shall be discontinued, then Landlord shall use an index substantially similar to the Index to calculate future adjustments. c) No payment by Tenant or receipt by Landlord of a lesser amount than the monthly payment in this Lease shall be considered any thing other than a payment on account of the earliest rent due, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed in accord and satisfaction. Landlord may accept such payment without prejudice to its right to recover the balance of the rent and to pursue any other remedy provided for in this Lease, or otherwise available at law or in equity. d) All payments under this Lease to be made by Tenant to Landlord shall be made payable to, and mailed or personally delivered to, Landlord at the following address or such other place as may be designated in writing by Landlord: