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6C (2)
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11-08-11 Packet
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6C (2)
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Rent; provided that nothing contained herein shall be deemed to suspend or delay the payment of such sum or <br />charge, or to limit any right or remedy of Landlord with respect to its nonpayment. <br />5.3. Late Charge. Any amount of Modified Gross Rent that is overdue shall bear interest at the lesser <br />of: (a) the maximum rate payable by Tenant under State law; or (b) the rate of eighteen percent (18 %) per annum <br />from the date when such amount is due and payable under this Lease until the date paid. If any amount of Modified <br />Gross Rent is paid more than five (5) days after its due date, then Landlord shall be entitled to a late payment fee of <br />One Hundred Dollars ($100.00) in addition to the interest charge set forth in this Section 5.3. <br />5.4. Common Expenses. <br />(a) Pro Rata Share. Tenant's "Pro Rata Share" shall be a fraction: (a) the numerator of which is the <br />Floor Area, as defined in Section 1.1; and (b) the denominator of which is the square footage of all areas leasable to <br />tenants in the Building. As of the Effective Date, Tenant's Pro Rata Share is 1,423/11057 or 11.81 percent <br />(11.81 %). Tenant's Pro Rata Share shall be re- calculated from time to time if either the numerator or the <br />denominator change. <br />(b) Payment. Tenant shall pay to Landlord as a portion of the Modified Gross Rent its Pro Rata Share <br />of the Common Expenses, as hereinafter defined (the "CAM Contribution "), which share shall equal the amount of <br />all Common Expenses, multiplied by Tenant's Pro Rata Share. The obligations of Tenant under this Section 5.4 <br />shall survive the Termination Date. <br />(c) Common Expenses. "Common Expenses" shall mean all costs and expenses of every kind or <br />nature paid or incurred by Landlord during the Term in operating, managing and servicing the Building, including, <br />without limitation: (i) management fees; (ii) wages, salaries and benefits of maintenance personnel (not to exceed <br />the amount fairly and equitably allocated to the Building); (iii) charges under maintenance contracts; (iv) costs and <br />expenses to perform or provide maintenance or repairs and to satisfy Landlord's obligation to operate, maintain and <br />insure the Common Areas under this Lease; (v) sewer, water and storm water drainage charges attributable to the <br />Common Areas, and the costs to maintain any retention and detention ponds and other storm water drainage <br />facilities; (vi) premiums for customary insurance incurred by the Landowner including insurance, if any, obtained by <br />the Landlord to satisfy an obligation under this Lease; (vii) costs for signage located in the Common Areas, <br />including, without limitation, costs for light bulbs and electricity, and costs incurred with respect to any exterior sign <br />for the Building; (viii) costs and expenses to provide light, heat, air conditioning and ventilation for the Common <br />Areas; and (ix) depreciation or amortization of capital assets, improvements, repairs or replacements (the <br />"Amortized Capital Costs "). Tenant shall be responsible for its Pro Rata Share of the Amortized Capital Costs, <br />together with interest if not paid when due, notwithstanding that the capital asset, improvement, repair or <br />replacement may have been acquired or made before the Commencement Date. Common Expenses shall not <br />include: (1) any leasing or rental commissions; (2) any legal fees in connection with financings or refinancings, <br />preparation or negotiation of leases, or exercising or enforcing Landlord's rights and remedies under leases; (3) any <br />costs of tenant improvements or build -outs; (4) any penalties or interest assessed against Landlord for late payment <br />of its indebtedness; or (5) payments of principal or interest required by any financing or refinancing. <br />Notwithstanding anything to the contrary set forth herein, amounts separately billed to, and paid directly by, a tenant <br />of the Building shall be deducted in calculating Common Expenses from the costs and expenses that Landlord incurs <br />to operate the Building. <br />5.5. Real Estate Tax Expenses. Tenant shall pay to Landlord, as Additional Rent, Tenant's Pro Rata <br />Share of (collectively, the "Tax Expenses "): (a) all real estate taxes and assessments of any nature levied during the <br />Term on, against, or with respect to the Building (the "Real Estate Taxes "); (b) any and all costs and expenses <br />incurred by Landlord in connection with an appeal of the Real Estate Taxes; and (c) all Real Estate Taxes levied <br />during the Term on, against, or with respect to Tenant's leasehold interest in the Premises. The obligations of <br />Tenant hereunder with respect to the payment of Real Estate Taxes levied during the final year of the Term shall <br />survive the Termination Date. <br />5.6. Insurance Expenses. Tenant shall pay to Landlord, as Additional Rent, its Pro Rata Share of any <br />and all costs incurred by Landlord in connection with the Casualty Insurance, as defined in Section 8.1, and the <br />
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