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the mutually agreeable Lease terms and conditions shall be completed one hundred and twenty ( 120 ) days prior to the end of the Initial Term , and forty-five (45 ) days prior to the end of each Renewal Term . ARTICLE 2 2 . 1 . LEASED PREMISES DESCRIPTION . The County shall lease to Tenant an area that is approximately 1 , 334 sq ft of space on the first floor of the new main County Administration Building , 180127" Street , Vero Beach FL 32960 (" Leased Premises" ) as shown on Exhibit "A" attached hereto and incorporated herein in its entirety by this reference . ARTICLE 3 3 . 1 . RENT. Subject to adjustment as set forth in this Lease , and commencing September 1 , 2007 , Tenant shall pay, without abatement , set-off or other deductions , minimum net rent (" Rent" ) in the amount of Four Hundred and 001100 Dollars ($400 . 00 ) per month for each month during the Initial Term . Such Rent shall be payable as set forth herein , without billing , on or before the 1st (first) day of each month . The Rent due and payable under this Lease is net to the County and Tenant shall bear all costs and expenses , except as otherwise set forth in this Lease . 3 .2 . LATE RENT CHARGE . The Rent payable hereunder shall be considered delinquent if it is not received by the County's Finance Department on or before the 10th (tenth ) day of each month . Delinquent Rent payments shall include , as additional rent hereunder, a Fifty Dollar ($50 . 00 ) service charge plus interest at the rate of eighteen percent ( 18% ) per annum calculated from the day the Rent is due until received by the County' s Finance Department, 3 . 3 . SALES TAX. In addition , the Tenant shall be liable for the prevailing State of Florida Sales and Use Tax imposed on the Rent for the leasehold estate granted under this Lease ("Sales Tax" ) . The Sales Tax shall be paid by the Tenant to the County's Finance Department with the Rent, and the County shall transmit the Sales Tax to the Florida Department of Revenue . 3 .4 . PAYMENT OF RENT. The Tenant shall pay all Rent, Sales Tax , and other charges under this Lease to the County' s Finance Department, 1801 27"' Street , Vero Beach , FL 32960 by check made payable to " Indian River County Board of County Commissioners' . 3 . 5 . RENTAL ADJUSTMENT. On October 15`, 2008 , and annually on each October 1st thereafter, including all Renewal Terms , the Rent shall be adjusted in an amount that is the greater of ( i )three percent (3% ) ; or ( ii ) the percentage change in the index known as the " United States Bureau of Labor Statistics Consumer Price Index (CPI ) for All Urban Consumers for the South , all items , 1982-84 equals 100" ("CPI ") I for the immediately preceding twelve ( 12 ) month period of July to July. If the CPI ceases to be published , the successor index shall be used . In no event shall the Rent be less than the Rent set for 2