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then i"n default of this Lease and delivers a written notice of the exercise of the <br />option t <br />or prior option period, as the case maybe,. <br />o extend to Lessor at least ninety (90) days prior to the expiration of the <br />then current <br />Initial Term <br />2,.3 Expi"rati*on <br />w <br />Recti er th P, t P. r 7_ � �. _ �. <br />i ��� � �t} r.'r, 1 � �� =3� T �', �#i �t � � MOPbe, � <br />j rhes" <br />3. RENT:0 <br />Initial rent for the LEASE will be $00.16 per square foot (fi,.960` sq. ft.) per year for an <br />annual total of $.... 1, 1 IW3.60 to be paid annually. <br />Due Date: Annual rent payments shall be payable i*n advance and due on or before LEASE <br />& W JPL 4b, <br />anniversary date of 11t of February each year during the TERM of this LEASE., <br />payments can be made, but there will be an additional ten (10%) percent <br />administration fee charged for this service. <br />3al Payment9 <br />: <br />Monthly <br />monthly <br />Any amount due ini%f%"r PotIA"8 <br />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,shallbe paid <br />without offset, abatement, or deduction. Lessor sha <br />(beginning the most recent amount due), including late fees and interest as provided herein. <br />and <br />11 first apply any sum paid to past due rent <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 benaif Of i,essee is dishonored by a bank, i,essee snail pay ail charges that the bank <br />may assess to Lessor plus a service charge of Fifty Do <br />shall make payments to Lessor at the address set forth <br />as Lessor may designate in writing from time to time. <br />3.2 <br />Deposit: <br />Mars ($50.00) per occurrence. Lessee <br />in Section 13.7 (or such other address <br />In addition to initial rent and' upon execution of this LEASE by both parties, 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 Manager may apply such deposit, or any.part thereof <br />as may be necessary, to the payment of rental or to the payment of damages for such breach <br />OI pul:5ut; Qlly 17L�1G1 I�1llZUlGJ PTOVWo IUGLI ilGlZlll. 111I11E CVG'Ll Lri4L SmlAClI Ul'410 1 .1 P -1 �.1alh 6, a ill I I <br />U�jl I� I,ISCU IJj' [fie <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 F%rV k 2 LESSOR <br />