Hold PHearing_Lease_CraigClerf - Laserfiche WebLink

Home Browse Search

3. RENT: Initial rent for the LEASE will be $00.16 per square foot (6192 sq. ft.) per year for an annual total of $990.72, not including leasehold tax, to be paid annually. Due Date: Annual rent payments shall be payable in advance and due on or before LEASE anniversary date of 1 I of March each year during the TERM of this LEASE. 3.1 Payment: Any amount due in connection with this Lease shall be due without prior notice or demand, except when notice is necessary to make Lessee aware of an amount due, and shall be paid without offset, abatement, or deduction. Lessor shall first apply any sum paid to past due rent (beginning the most recent amount due), including late fees and interest as provided herein. No statement on any check or elsewhere shall be deemed to create an accord and satisfaction. Lessor may accept any payment (including but not limited to, past due amounts and related charges) without prejudice to Lessor's rights to any default under this Lease. If any check paid on behalf of Lessee is dishonored by a bank, Lessee shall pay all charges that the bank may assess to Lessor plus a service charge of Fifty Dollars ($50.00) per occurrence. Lessee shall make payments to Lessor at the address set forth in Section 13.7 (or such other address as Lessor may designate in writing from time to time. 3.2 Deposit: In addition to initial rent and upon execution of this LEASE by both parties, LESSEE shall deposit with LESSOR the amount of one year's rent plus leasehold tax as a guarantee of LESSEE's performance of this LEASE and the timely payment of the rental provided for herein; and in the event LESSEE shall fail to pay the rental as provided herein, or otherwise breach this LEASE, then the Airport Manager may apply such deposit, or any part thereof as may be necessary, to the payment of rental or to the payment of damages for such breach or pursue any other remedies provided herein. In the event that such deposit is used by the county for payment related to an incident of breach, the LESSEE shall replenish the deposit after each and every expenditure so as to retain the amount of one year's rent and leasehold tax in the deposit account. 3.3 Past Due Amounts: 3.3.1 Annual Rental Payments: If Lessee fails to pay the annual rent when due under this Lease, such unpaid amount shall bear interest at the rate of twelve percent (12%) per annum from the due date of such amount to the date of payment in full, with interest. LESSEE « 2 LESSOR