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2 <br />4.BASIC RENT. <br />A. For the entire Term, the Tenant agrees to pay to Landlord rental payable in advance in <br />equal monthly installments on the first day of each calendar month which shall be in the amounts <br />set forth in this Section and in this Lease as “Basic Rent.” <br />B. Basic Rent for the initial year of the Lease shall be approximately Twenty Four Thousand <br />One Hundred Fifty-Seven Dollars and Zero Cents ($24,157), payable in equal monthly <br />installments of Two Thousand Eleven Dollars and Eighty-Three Cents ($2,013.08) payable in <br />advance on the commencement date of the Lease and thereafter on the first day of each calendar <br />month. During the initial year of the Term, Basic Rent equates to an annual rate of Eight Dollars <br />and Twelve Cents ($8.12) per rentable square foot year. <br />C. Effective on the first day of the month following the initial year, Basic Rent shall increase <br />by three (3) percent of the preceding year’s annual rent. The following table summarizes Basic <br />Rent throughout the Term of the Lease if Tenant gives Landlord proper notice to extend the lease. <br />Lease Years Annual Rent Monthly Rent Per Rentable <br />Square Foot <br /> 08/01/23 to 07/31/24 $ 24,157.00 $ 2,013.08 $ 8.12 <br />08/01/24 to 01/31/25 $ 24,881.71 $ 2,073.47 $ 8.36 <br />D. The basic rent together with the additional rent as defined in paragraph 5 hereof are referred <br />to hereinafter as "Rental". Tenant hereby agrees to pay the Rental monthly to Landlord at <br />Landlord's building management office or at such other location as Landlord may designate from <br />time to time, without demand. Any portion of the Rental or other charges not paid when due shall <br />bear a delinquency service charge equal to five (5%) percent of such delinquency, provided <br />Landlord has submitted an invoice for payment by Tenant to the Director of the South Bend Human <br />Rights Commission no later than 30 days prior to Rental payment due date. In addition, the Tenant <br />shall be charged a Fifty ($50.00) Dollar processing penalty for any Rental check that is returned