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3 <br />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 />RENT: <br />Initial rent for the LEASE will be $00.16 per square foot (7,396.60 sq. ft.) per year for an <br />annual total of $1, 183.50 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 Ist of November each year during the TERM of this LEASE. Monthly <br />payments can be made. <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 behalf of Lessee 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 occurrence. 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 Past Due Amounts: <br />3.2.1 Annual Rental Payments: <br />If Lessee fails to pay the annual rent when due under this Lease, such unpaid <br />amount shall bear interest at the rate of twelve percent (t2%) per annum from <br />the due date of such amount to the date of payment in full, with interest. <br />3.2.2 Monthly Rental Payments: <br />If Lessee fails to pay the monthly rental payment when due under this Lease, <br />such unpaid amount shall bear interest at the rate of twelve percent (12%) from <br />the due date of such amount to the date of payment in full, with interest. <br />LESSEE p � 2 LESSOR <br />F-� <br />