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• • • • • • respect to payments due to the other under this Lease. 7. This lease shall be binding upon the respective parties, their assigns and successors. Except to Lessee's parent company Lessee may assign its rights and obligations under this lease only upon prior written approval of the Lessor, and such approval shall not be unreasonably withheld. 8. Lessee takes the facilities u is and Lessor does not warrant that the fable bytheiensseet for the use intended by Lessee. Any modifications necessary to make the facility may only be made after approval by the Lessor, such approval not to be unreasonably withheld, and shall be made at the sole expense of the Lessee. 9. A. Lessee shall pay Lessor at 1840 25th Street, Vero Bach, Florida 3296a� d rental of Nine Thousand Three Hundred Sixty Dollar ($9,360.00) payable yearly in ace an due on e,ach Commencement Date dunng the term of On each anniverrsary of d every the ommencement niversary date of Date during the term, the annual rent shall be s lease. increased by four percent (4%). B. In addition to the annual rent described herein, Lessee shall pay Lessor a one time payment of Ten Thousand Dollars ($10,000.00). C. Security Deposit by Lessee: Lessee shall deposit with Lessor a refundable security deposit of Ten Thousand Dollar ($10,000.00) which may be in the form of an irrevocable letter of credit during the term of this lease, that may be used by Lessor in event that Lessenoe been breaches this Lease and such breach causes Lessor to incur expenses would incurred but for Lessee's breach of this Lease, especially regarding removal of any of Lessee's property from the Leased property. Lessor shall be required to maintain the depsit nn an interest bearing account maintained in a financial institution insured by the Federal Deposit Corporation and separate from Lessor s other Rinds. Upon the termination or expiration of the Lease, all interest that may accrue on the deposit, shall be added to the deposit amount and returned to Lessee. 10. Lessee shall separately meter all utilities consumed by Lessee. Lessor agrees to cooperate with Lessee in obtaining and/or maintaining, at no expense to Lessor, such approval, utility services and easements required for Lessee's proposed use of the Leased property. 11. During the term of this lease, Lessor agrees that Lessee shall have free access to the property and the premises on which the property is located 24 hours per day, for the purpose of installing, maintaining, repairing and removing its equipment. 12. The installation, maintenance, repair and removal of Lessee's equipment shall not damage the premises or interfere with the maintenance of the Lessor's property 13. Lessee shall comply with all rules and regulations of the Federal Communications Commission, and all other applicable laws and regulations. • •