DISPOSSESS PROCEEDING) FOR A DEFAULT IN THE PAYMENT OF ADDITIONAL RENT AS FOR A
DEFAULT IN THE PAYMENT OF BASIC ANNUAL RENT NOTWITHSTANDING THE FACT THAT TENANT
MAY NOT THEN ALSO BE IN DEFAULT IN THE PAYMENT OF BASIC ANNUAL RENT.
1.03
(A)
IF TENANT
SHALL FAIL TO PAY WITHIN FIVE DAYS AFTER THE DUE DATE ANY INSTALLMENT OF BASIC
ANNUAL RENT OR ANY PAYMENT OF ADDITIONAL RENT, THEN TENANT SHALL PAY LANDLORD,
AS ADDITIONAL RENT, A LATE CHARGE EQUAL TO THREE (3%) PERCENT OF SUCH
INSTALLMENT OR PAYMENT AS COMPENSATION FOR LANDLORD'S ADDITIONAL ADMINISTRATIVE
EXPENSES RELATING TO SUCH LATE PAYMENT.
NOTWITHSTANDING THE FOREGOING, IN THE
FIRST INSTANCE ONLY DURING EACH CONSECUTIVE TWELVE MONTH PERIOD DURING THE TERM
(BUT NOT MORE THAN FIVE TIMES DURING THE TERM), THE LATE CHARGE PAYABLE UNDER
THIS SECTION 1.03(A) SHALL NOT BE PAYABLE UNLESS AND UNTIL TEN (10) DAYS HAS
ELAPSED AFTER LANDLORD NOTIFIES TENANT THAT SUCH PAYMENT IS LATE.
(B)
IF TENANT SHALL FAIL TO PAY WITHIN TEN DAYS
AFTER THE DUE DATE ANY INSTALLMENT OF BASIC ANNUAL RENT OR ANY PAYMENT OF
ADDITIONAL RENT, TENANT SHALL PAY IN ADDITION TO THE LATE CHARGE PROVIDED IN
SAID PARAGRAPH (A) INTEREST ON ALL SUCH AMOUNTS (INCLUDING THE LATE CHARGE) AT
THE INTEREST RATE (AS SAID TERM IS DEFINED IN ARTICLE 22 HEREOF), FROM THE DATE
WHEN SUCH INSTALLMENT OR PAYMENT SHALL HAVE BECOME DUE TO THE DATE OF PAYMENT
THEREOF, AND SUCH INTEREST SHALL BE DEEMED ADDITIONAL RENT.
(C)
THE PROVISIONS OF THIS SECTION 1.03 ARE IN
ADDITION TO ALL OTHER REMEDIES AVAILABLE TO LANDLORD FOR NONPAYMENT OF BASIC
ANNUAL RENT OR ADDITIONAL RENT.
ARTICLE 2
TERM
2.01
LANDLORD HEREBY LEASES TO TENANT, AND TENANT
HEREBY LEASES FROM LANDLORD, ON THE TERMS HEREINAFTER SET FORTH, THE DEMISED
PREMISES, FOR A TERM (THE "TERM") COMMENCING ON THE COMMENCEMENT DATE AND ENDING
ON THE EXPIRATION DATE, UNLESS THE TERM SHALL SOONER CEASE AND TERMINATE AS
HEREINAFTER PROVIDED.
2.02
(A)
LANDLORD
SHALL PERFORM LANDLORD'S WORK (AS DEFINED BELOW), IN ACCORDANCE WITH THE
PROVISIONS OF THIS SECTION 2.02.
TENANT SHALL NOT INTERFERE WITH THE
PERFORMANCE OF LANDLORD'S WORK BY LANDLORD, ITS EMPLOYEES, AGENTS, CONTRACTORS,
SUBCONTRACTORS AND SUPPLIERS AND TENANT AT ALL TIMES SHALL FULLY AND FREELY
COOPERATE WITH LANDLORD, ITS EMPLOYEES, AGENTS, CONTRACTORS, SUBCONTRACTORS AND
SUPPLIERS IN CONNECTION WITH THE PERFORMANCE OF LANDLORD'S WORK.
ALL
INSTALLATIONS, MATERIALS AND WORK WHICH MAY BE UNDERTAKEN BY TENANT TO PREPARE,
EQUIP, DECORATE AND FURNISH THE DEMISED PREMISES FOR TENANT'S USE OR OCCUPANCY
(COLLECTIVELY, "TENANT'S INITIAL WORK") SHALL BE PERFORMED BY TENANT, AT
TENANT'S EXPENSE (BUT SUBJECT TO ARTICLE 44), IN ACCORDANCE WITH ARTICLE 6 AND
SCHEDULE C.
(B)
LANDLORD, AT ITS EXPENSE AND IN ACCORDANCE
WITH THE LAST SENTENCE OF SECTION 8.01 OF THIS LEASE, HAS PERFORMED OR SHALL
PERFORM THE FOLLOWING WORK IN THE DEMISED PREMISES ("LANDLORD'S WORK"):
5
(I)
REMOVE THE TWO INTERNAL STAIRCASES IN
THE DEMISED PREMISES AND SEAL THE SLABS CONNECTING THE TWO INTERNAL STAIRCASES
WITH THE CONTIGUOUS FLOOR OF THE BUILDING (THE "STAIRCASE WORK");
(II)