2023-034A - Laserfiche WebLink

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Common Areas equal to fifteen percent (15%) of the foregoing costs. Common Area Maintenance Expenses shall not include:(i) leasing commissions payable by Landlord; (ii) depreciation on the Center or equipment therein; (iii) the costs of special services or utilities separately charged to individual tenants of the Center; (iv) rents under any ground lease or any other underlying lease wherein Landlord is the lessee; (v) interest or principal payments on any financing for the Center and Common Areas, including permit, license and inspection fees, (vi) the cost of any work or alterations performed by Landlord incurred in renovating, improving, decorating, painting or re- decorating vacant tenant space or space of other tenants in the Center; (vii) any costs for which Landlord is reimbursed by insurance proceeds or condemnation awards; (viii) any costs for which Landlord is reimbursed by tenant(s) of the Center (other than as part of such other tenant's share of Common Area Maintenance Expenses); (ix) professional fees incurred by Landlord in the preparation of leases or in disputes with tenants of the Center; (x) costs and expenses associated with the cleanup of any hazardous waste substances required by law to be removed or neutralized to the extent not caused by Tenant; (xi) taxes due as a result of or in connection with the sale of the Center or underlying land or any recordation or transfer taxes; or (xi) costs incurred by Landlord in undertaking a major and comprehensive renovation of the entire Center. "Cost of Insurance on the Center" shall be the sum of all premiums payable under all policies of insurance carried by Landlord in connection with the Center or which cover any one or more of the buildings or other improvements in the Center and the costs incurred by Landlord to repair any damage by fire or other casualty to the Center, to the extent that such cost was not covered by Landlord's insurance policies by reason of deductible amounts set forth therein. In the event that Landlord shall, at any time during the Term, insure the Center or any part thereof or any buildings or improvements therein under a "package policy" or a policy of "blanket coverage" insuring other property not in the Center in addition thereto, the amount of the premiums payable under such policy which are attributable to the Center and the buildings and improvements therein shall be determined by Landlord on an equitable basis and such amount shall be included in the Cost of insurance on the Center for the purposes hereof. "Effective Rate" shall mean the rate per annum which is the lesser of. (a) three hundred (300) basis points in excess of the Prime Rate or (b) the maximum rate permitted by law. "Environmental Statutes" shall mean all Laws concerning the protection of public safety or the environment, including, but not limited to, those relating to the generation, use, handling, treatment, storage, transportation, release, emissions, disposal, remediation or presence of any material including Solid Waste, Hazardous Waste, Hazardous Substances or Hazardous Materials. "Governmental Authorities" shall mean all federal, state, and municipal governmental entities and all departments, commissions, boards and officers thereof. "Hazardous Substances, Solid Waste, Hazardous Waste, and Hazardous Materials" will have the meanings defined in any Environmental Statute and shall in this Lease collectively be called Hazardous Substances. "Landlord's Address for Notices" shall mean the following address: Indian River County Board of County Commissioners Attn: Public Works Director