AND EXPENSES FOR SUCH CALENDAR
YEAR, (B) ANY AMOUNT PAID BY TENANT TOWARDS TAXES AND EXPENSES DURING SUCH
CALENDAR YEAR ON AN ESTIMATED BASIS, AND (C) ANY REVISED ESTIMATE OF TENANT'S
OBLIGATIONS FOR TAXES AND EXPENSES FOR THE CURRENT CALENDAR YEAR.
(III)
IF THE STATEMENT SHOWS THAT TENANT'S ESTIMATED PAYMENTS WERE LESS
THAN TENANT'S ACTUAL OBLIGATIONS FOR TAXES AND EXPENSES FOR SUCH YEAR, TENANT
SHALL PAY THE DIFFERENCE WITHIN TEN (10) BUSINESS DAYS AFTER LANDLORD SENDS THE
STATEMENT.
(IV)
IF THE STATEMENT SHOWS AN INCREASE IN TENANT'S ESTIMATED PAYMENTS
FOR THE CURRENT CALENDAR YEAR, TENANT SHALL: (A) PAY THE DIFFERENCE BETWEEN THE
NEW AND FORMER ESTIMATES FOR THE PERIOD FROM JANUARY 1 OF THE CURRENT CALENDAR
YEAR THROUGH THE MONTH IN WHICH THE STATEMENT IS SENT WITHIN TEN (10) BUSINESS
DAYS AFTER LANDLORD SENDS THE STATEMENT, WHICH AMOUNT SHALL BE SET FORTH IN SAID
STATEMENT, AND (B) THEREAFTER PAY THE NEW ESTIMATED AMOUNT UNTIL LANDLORD
FURTHER REVISES SUCH ESTIMATED AMOUNT.
(V)
IF THE STATEMENT SHOWS THAT TENANT'S ESTIMATED PAYMENTS EXCEEDED
TENANT'S ACTUAL OBLIGATIONS FOR TAXES AND EXPENSES, LANDLORD SHALL CREDIT THE
DIFFERENCE AGAINST PAYMENT(S) OF RENT NEXT DUE.
IF THE TERM SHALL HAVE EXPIRED
AND NO FURTHER RENT SHALL BE DUE, PROVIDED THAT THERE IS NO OUTSTANDING RENT DUE
AND PAYABLE BY TENANT, LANDLORD SHALL PROVIDE A REFUND OF SUCH DIFFERENCE AT THE
TIME LANDLORD SENDS THE STATEMENT.
3
(VI)
LANDLORD RESERVES THE RIGHT TO REASONABLY CHANGE, FROM TIME TO
TIME, THE MANNER OR TIMING OF TENANT'S PAYMENTS FOR TAXES AND EXPENSES, PROVIDED
THAT IN NO EVENT SHALL SUCH CHANGE RESULT IN A DUPLICATION OF PAYMENT FOR ANY
ITEM(S) BY TENANT.
IN LIEU OF PROVIDING ONE STATEMENT COVERING ALL SUCH ITEMS,
LANDLORD MAY PROVIDE SEPARATE STATEMENTS, AT THE SAME OR DIFFERENT TIMES,
INCLUDING SEPARATE STATEMENTS FOR TAXES AFTER BILLS ARE RECEIVED.
D.
TAX YEARS, TAX REFUNDS, PROTEST COSTS, AND EXPENSE ADJUSTMENTS FOR
PRIOR YEARS.
LANDLORD SHALL INCLUDE IN TAXES EACH YEAR HEREUNDER: (I) IN
GENERAL, THE AMOUNTS WHICH LANDLORD SHALL PAY OR BECOME OBLIGATED TO PAY IN
RESPECT OF SUCH YEAR (RATHER THAN AMOUNTS WHICH ARE ASSESSED OR BECOME A LIEN
DURING SUCH YEAR), (II) FOR PERSONAL PROPERTY TAXES, THE AMOUNTS PAID DURING
SUCH YEAR, AND (III) FOR TAXES PAID IN INSTALLMENTS OVER MORE THAN ONE YEAR, THE
AMOUNTS PAID EACH YEAR, AND ANY INTEREST THEREON.
NOTWITHSTANDING THE
FOREGOING, HOWEVER, LANDLORD SHALL EACH YEAR: (A) CREDIT AGAINST TAXES ANY
REFUNDS RECEIVED DURING SUCH YEAR, (B) INCLUDE IN TAXES ANY ADDITIONAL AMOUNT
PAID DURING SUCH YEAR INVOLVING AN ADJUSTMENT TO TAXES FOR A PRIOR YEAR, WHETHER
DUE TO ERROR BY THE TAXING AUTHORITY, SUPPLEMENTAL ASSESSMENT, OR OTHER SUCH
REASON, (C) INCLUDE, IN EITHER TAXES OR EXPENSES, ANY REASONABLE FEES FOR
ATTORNEYS, CONSULTANTS AND EXPERTS, AND OTHER REASONABLE COSTS PAID DURING SUCH
YEAR IN ATTEMPTING TO PROTEST, APPEAL OR OTHERWISE SEEK TO REDUCE OR MINIMIZE
TAXES, WHETHER OR NOT SUCCESSFUL, AND (D) CREDIT AGAINST EXPENSES THE COST OF
ANY ITEM PREVIOUSLY INCLUDED IN EXPENSES, TO THE EXTENT THAT LANDLORD RECEIVES
REIMBURSEMENT