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year options to renew the lease on the same terms as <br />provided in the Lease except that the Modified <br />Gross Rent shall be subject to negotiation. <br />MODIFIED GROSS RENT: <br />The annual Modified Gross Rent shall be $19,000 <br />per year ($1,583/month) $12.42 per square foot per <br />year, inclusive of Common Area Maintenance <br />(CAM), Real Estate Taxes and Insurance. <br />INSURANCE: Tenant will carry insurance for liability and on <br />personal property and its improvements to the <br />Premises in amounts and types further defined in <br />the lease document. <br />UTILITIES: Tenant shall bare all utility costs for its Premises, <br />which shall be separately metered and billed <br />directly to Tenant. <br />DELIVERY OF SPACE: Landlord shall deliver the space "as-is". <br />LEASE GUARANTEE: The financial terms of the lease shall be personally <br />guaranteed by the Tenant. <br />MAINTENANCE <br />RESPONSIBILITIES: Tenant shall be responsible for all Interior <br />Maintenance which shall be further defined in the <br />Lease. <br />DEPOSIT: First month's Rent as well as a security deposit <br />equal to the first month's Rent shall be due upon <br />lease signing. <br />SIGNAGE: Tenant shall be allowed to place its sign on the <br />facade of the building at Tenant's sole cost and <br />expense. Said sign shall comply with all municipal <br />code regulations and Landlord's signs specifications <br />and written approval of Landlord shall be obtained <br />prior to any sign installation. <br />