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2.3 Expiration Date. The date on which this l.ease expires under the telnrs of Sections 2.1 or2.2 shall be the "Expimtion Date.t' 3. RENT: lnitial rent fbr thc LEAST') will bc $00. l6 per square foot (6.960 sq, ft.) per year lor an annual total of $ l,l 13.60 to be paid annually. Due Date: Annual rent payments shall be payablc in advance and due on ol betbrc LEASE anniversary date of l*tof January each year during the T'ERM of this LEASI. Monthly payments can be made, but there will bc an additional ten (10%) percent rnonthly administration fee charged for this servicc. 3.1 Payment: Any amount duc in connection with this l.ease shall be due without prior notice or demand. cxccpt when notice is necessary to make Lessee awarc 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 latc fces and intercst as provided herein. No statement on any check or elsewhcrc shall be deemed to create an accord and satisfaction. l.essor 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. [f any check paid on behalfof lrssee is dishonortd by a bank, Lcssee shall pay all charges that the bank may &ssess to Lessor plus a service charge of Fifty Dollars ($50.00) per occurence. Lessee shall make payments to Lcssor at the address set forlh in Section 13.7 (or such other address as l,essor may designate in writing from time to time. 3.2 Dcposit: ln addition to initial rent and upon cxccution ofthis LEASE by both parties, I,ESSEE shall deposit with LESSOR the amount of one year's renl plus leasehold tax as a guaranlee of LESSEE's performance of this LEASE and the tirnely payment of the rental provided tbr herein; and in the event I-ESSEE shall fail to pay the rental as provided herein, or otherwisc breach this LEASE, then the Airpoft Director rnay apply such deposit, or any part thereof as rnay bc necessary, to the payment of rental or to the payment oldamages for such brcach or pursue any other remedies provided herein. In the event that such dcposit is used by the county for payment related lo an incidcnt oflbrcach, the LESSEE shall replenish the deposit after each and every expenditure so as to retain the amount of one year's rent and lcaschold tax in the deposit account. LnssEE:frp- tffi\,\4 2 r,nssonfi3)--