2023-034A - Laserfiche WebLink

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Premises during the first year of this Lease. Tenant, at its cost, shall be entitled to audit the Common Area Maintenance Expenses. If the Common Area Maintenance Expenses expenses charged to Tenant exceed the amount of the Common Area Maintenance Expenses entitled to be charged to Tenant by Landlord by more than 5% for the first year, then Landlord shall reimburse Tenant for the costs of the audit and for any amounts overpaid by Tenant. 4.04 Installments. Landlord may collect Tenant's Pro Rata Share of Common Area Maintenance Expenses, Tenant's Pro Rata Share of Taxes and/or Tenant's Pro Rata Share of Insurance (collectively, "Share") for any Calendar Year in monthly installments, in the following manner. Landlord may, at any time prior to or during a Calendar Year, submit to Tenant Landlord's reasonable estimate of the Share for such Calendar Year. Such estimate may be revised from time to time during such Calendar Year. If Landlord shall submit to Tenant such estimate, Tenant shall pay the amount of such estimate in equal monthly installments, in advance, on or before the first (1st) day of each calendar month during such Calendar Year so that the full amount of such estimate shall have been paid upon the expiration of such Calendar Year. If Landlord shall collect monthly estimated payments on account of the Share for any Calendar Year monthly, pursuant to this Section, then, within one hundred twenty (120) days following the expiration of such Calendar Year, Landlord shall furnish to Tenant a written statement showing the actual amount of the Share for such Calendar Year and the payments theretofore made by Tenant. If the payments made by Tenant shall exceed the Share, Tenant shall be entitled to a credit against the next due payments of Tenant's Pro Rata Share of Common Area Maintenance Expenses in the amount of such excess. If the Share shall exceed the payments made by Tenant, Tenant shall pay to Landlord the deficiency within ten (10) days after Landlord shall submit the aforesaid statement to Tenant. 4.05 Payment of Rentals. All Rent shall be paid by Tenant to Landlord in advance on the first (1 St) day of each month during the Term at Landlord's Address for Payment, without any right of notice, demand, deduction or setoff. In case of controversy, Tenant shall have the burden of proving payment of the controverted item(s) of Rent. 4.06 Late Payments. If Tenant shall fail timely to pay to Landlord any installment of Rent on the date on which such sum is due (regardless of the provisions of Section 15.01(a), below), Tenant shall pay to Landlord either or both (at Landlord's option) of the following: (a) interest on such late payment from the due date thereof to the date of receipt of payment by Landlord at a rate per annum equal to the Effective Rate, and (b) a late charge of Five Cents ($.05) for each dollar so overdue. 4.07 Security Deposit. The Security Deposit., if any, shall be collateral security for the performance by Tenant of its obligations under this Lease. The Security Deposit shall be returned to Tenant after the expiration of the Term, provided Tenant shall have timely performed all of Tenant's obligations under this Lease. Landlord may use, apply or retain the whole or any part of the Security Deposit to the extent required for the payment of any Rent as to which Tenant is in default or on account of any sum which Landlord may expend by reason of Tenant's default. In the event that Landlord shall apply all or any part of the Security Deposit on account of Tenant's default under this Lease, Tenant shall replenish the Security Deposit within three (3) days of any request by Landlord to do so. No interest shall be paid on the Security Deposit. In the event of a sale of the Leased Premises, Landlord shall have the right to transfer the Security Deposit to the purchaser; and Landlord shall thereupon be released from all liability for the return thereof, and Tenant agrees to look solely to the purchaser for the return of the Security Deposit.