|
number, billing contact name, business name, and premises address, and (b) shah thereafter follow Lessor's e-mailed
<br />prompts to complete the AH payment setup process. Notwithstanding any of the forgoing to the contrary, in the
<br />event that rent or other amounts become due and payable prior to Lessee completing the ACH payment setup process,
<br />Lessee agrees to timely make payment by check, as set forth above.
<br />In the event that the term of this Lease commences on a day other than the first day of a calendar month, Lessee
<br />shall then pay, in advance, in addition to the payment set forth above, an amount equal to a pro-rata portion of a
<br />monthly installment of rent based upon the number of days remaining in that month.
<br />All rent payable hereunder is due in advance on or before 12 o'clock noon on the lst day of each calendar month
<br />during the full term hereof. If Lessee shall fail to pay said monthly rental installments on or before five (5) days after
<br />the same are due and payable, or if Lessee shall fail to pay when due and payable any other sums payable under the
<br />terms of this Lease, then Lessee shall pay $200.00 plus $100.00 per day as late fees. In the event Lessee shall make
<br />any payments required under the terms of this Lease by a check which is returned unpaid for any reason from Lessee's
<br />bank, Lessee shall be liable to Lessor for an additional charge of $250,00.
<br />It is the intention of Lessee and Lessor that all base rent reserved herein shall be an absolute net return to Lessor
<br />and that NNN expenses, which include, without limit, all reasonable costs and expenses that may be paid or incurred
<br />by Lessor in operating, managing, policing, equipping, repairing, replacing and maintaining the Leased Premises and
<br />common areas, including, without limitation: sewer & water•, common area trash removal; snow removal; parking lot
<br />sweeping, re -striping, and resurfacing; lighting repairs; exterior wall repairing, roof repairs and replacements, painting
<br />andor staining; gutters and downspouts; general maintenance; landscaping; remodeling, or alteration of the
<br />building(s); elevator maintenance, service and repair and/or any cost of any maintenance and service agreements with
<br />respect to the elevators (if any); management fees, Condo and or association fees and charges, insurance; security
<br />service, utilities, tax assessments and janitorial services imposed upon or related to the Leased Premises and common
<br />areas of the property, except as otherwise specifically provided herein, all of which shall be borne by Lessee and not
<br />by Lessor, it being Lessor's intent to exclude only items of expense commonly known and designated as "carrying
<br />charges". Lessee's percentage of above expenses shall be Twenty Five and Seventy Five Hundredths percent
<br />(25.75%). An additional fifteen percent (15%) of the foregoing expenses shall be charged to Lessee to cover Lessor's
<br />administrative and overhead costs, which shall be charged to Lessee as part of the NNN expenses and is included in
<br />the estimated monthly NNN expense payment, described below. Lessee shall pay 1/12th of its proper percentage of
<br />the above annual expenses monthly. Lessor may make reasonable adjustments to such amount at the end of any
<br />calendar month on the basis of previous years' expenses, projected remodeling costs, anticipated property taxes, and
<br />estimated common area charges. Lessee agrees to pay any shortage on an annual basis within ten (10) business days
<br />from receipt of bill and Lessor agrees to reimburse or credit Lessee for any overage on an annual basis within one
<br />hundred twenty (120) days after the end of each calendar year. Lessor shall provide an annual reconciliation on or
<br />before one hundred twenty (120) days after the end of each calendar year, provided, any delay by Lessor in
<br />submitting the annual reconciliation for any calendar year shall not affect the provisions of this paragraph or
<br />constitute a waiver of Lessor's rights for such calendar year or any subsequent calendar year. The annual charge will
<br />be subject to the same late fees as the monthly installments of rent. For calendar year 2022, the current monthly NNN
<br />expense charge is estimated at $1,850.00.
<br />ARTICLE 1I: SECURITY DEPOSIT
<br />Contemporaneously with the execution of this Lease, Lessee shall pay to the Lessor the sum of Seven Thousand
<br />Three Hundred and 00/100 Dollars ($7,300.00) to be held by the Lessor, without interest, as a security deposit and not
<br />as prepaid rent. If at any time during the term of the Lease, Lessee shall be in default in the payments of the rents or
<br />in performance of Lessee's other obligations under this Lease, including, without limitation, Lessee's obligations to
<br />surrender the Leased Premises upon the expiration or earlier termination of this Lease, Lessor shall have the option to
<br />apply the said deposit, or as much thereof as Lessor may deem necessary, to cure, correct, or remedy any such default
<br />subject to applicable statutory provisions, and the Lessee shall forthwith pay to Lessor all such expenditure or
<br />expenditures so that Lessor will at all times have the full amount of said deposit as security. Upon termination of this
<br />Lease in any manner, if the Lessee is not then in default, the above deposit or so much thereof as the Lessor may have
<br />in its possession, reduced by any portion applied to clean, repair and/or offset damages to the Leased Premise, shall be
<br />returned to the Lessee within sixty (60) days of termination. Lessee's forwarding address for purposes of receiving the
<br />3/2/2020 10:00:22 AM
<br />Wage 2 or 17
<br />
|