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2.3 Expiration Date. <br />The date on which this Lease expires under the terms of Sections 2.1 or 2.2 shall be the <br />"Expiration Date." <br />3. RENT: <br />Initial rent for the LEASE will be $00.16 per square foot (6,960 sq. ft.) per year for an annual <br />totalof $1,113.60 to be paid annually. <br />Due Date: Annual rent payments shall be payable in advance and due on or before LEASE <br />anniversary date of I't of January each year during the TERM of this LEASE. Monthly <br />payments can be made, but there will be an additional ten (10%) percent monthly <br />administration fee charged for this seruice. <br />3.1 Payment: <br />Any amount due in connection with this Lease shall be due without prior notice or demand, <br />except when notice is necessary to make Lessee aware of an amount due, and shall be paid <br />without offset, abatement, or deduction. Lessor shall first apply any sum paid to past due rent <br />(beginning the most recent amount due), including late fees and interest as provided herein. <br />No statement on any check or elsewhere shall be deemed to create an accord and satisfaction. <br />Lessor may accept any payment (including but not limited to, past due amounts and related <br />charges) without prejudice to Lessor's rights to any default under this Lease. If any check <br />paid on behalfofLessee is dishonored by a bank, Lessee shall pay all charges that the bank <br />may assess to Lessor plus a service charge of Fifty Dollars ($50.00) per occurence. Lessee <br />shall make payments to Lessor at the address set forth in Section 13.7 (or such other address <br />as Lessor may designate in writing from time to time. <br />3.2 Deposit: <br />In addition to initial rent and upon execution ofthis LEASE by both pafties, LESSEE shall <br />deposit with LESSOR the amount of one year's rent plus leasehold tax as a guarantee of <br />LESSEE's performance of this LEASE and the timely payment of the rental provided for <br />herein; and in the event LESSEE shall fail to pay the rental as provided herein, or otherwise <br />breach this LEASE, then the Airport Director may apply such deposit, or any part thereof <br />as may be necessary, to the payment of rentalorto the payment of damages for such breach <br />or pursue any other remedies provided herein. In the event that such deposit is used by the <br />county for payment related to an incident of breach, the LESSEE shall replenish the deposit <br />after each and every expenditure so as to retain the amount of one year's rent and leasehold <br />tax in the deposit account. <br />LESSEE#[^"2 <br />iA/t\lA <br />LESSoRE.l)