IMPROVEMENT ALLOWANCE:
$50,000.00, AS FURTHER DESCRIBED AND
SUBJECT TO THE PROVISIONS IN SECTION 5.4.
Tenant Moving Allowance of $50.000.00 to be paid by Landlord directly to Tenant
in four (4) monthly installments of $12,500.00 during the first four (4) months
of the lease.
These payments are due within 10 days of
each month of the lease
term or may be used as rent set-off by Tenant.
1.14.
EXHIBITS TO LEASE:
THE FOLLOWING EXHIBITS ARE ATTACHED TO AND MADE
A PART OF THIS LEASE.
Exhibit A
Space Plan of Premises
Exhibit A-1
Site Plan
Exhibit B
Legal Description of Property
Exhibit C
Depiction of Park
Exhibit D
Permitted Uses
Exhibit E
Form of Commencement Certificate
2
2.
LEASE OF PREMISES; RENT.
2.1.
LEASE OF PREMISES FOR LEASE TERM.
LANDLORD HEREBY LEASES THE
PREMISES TO TENANT, AND TENANT HEREBY RENTS THE PREMISES FROM LANDLORD, FOR THE
TERM AND SUBJECT TO THE CONDITIONS OF THIS LEASE.
2.2.
TYPES OF RENTAL PAYMENTS.
TENANT SHALL PAY (A) MONTHLY BASE RENT
AS SET FORTH IN SECTION 1.11 HEREOF, IN ADVANCE, COMMENCING ON THE COMMENCEMENT
DATE (PRORATED FOR A PARTIAL MONTH, IF APPLICABLE) AND ON THE FIRST DAY OF EACH
AND EVERY CALENDAR MONTH THEREAFTER DURING THE TERM OF THIS LEASE (THE "BASE
RENT"); AND (B) TENANT'S SHARE OF OPERATING EXPENSES (DEFINED BELOW) AND ANY
OTHER AMOUNTS OWED BY TENANT HEREUNDER (COLLECTIVELY, "ADDITIONAL RENT"); AND
(C) IN THE EVENT ANY MONTHLY INSTALLMENT OF BASE RENT OR ADDITIONAL RENT, OR
BOTH, IS NOT PAID WITHIN 15 DAYS OF THE DATE WHEN DUE, A LATE CHARGE IN AN
AMOUNT EQUAL TO 5% OF THE THEN DELINQUENT INSTALLMENT OF BASE RENT AND/OR
ADDITIONAL RENT (THE "LATE CHARGE"; THE LATE CHARGE, BASE RENT AND ADDITIONAL
RENT SHALL COLLECTIVELY BE REFERRED TO AS "RENT"), TO LANDLORD, AT THE NOTICE
ADDRESS SET FORTH IN SECTION 24.2 (OR SUCH OTHER ENTITY DESIGNATED AS LANDLORD'S
MANAGEMENT AGENT, IF ANY, AND IF LANDLORD SO APPOINTS SUCH A MANAGEMENT AGENT,
THE "AGENT"), OR PURSUANT TO SUCH OTHER DIRECTIONS AS LANDLORD SHALL DESIGNATE
IN THIS LEASE OR OTHERWISE IN WRITING.
2.3.
COVENANTS CONCERNING RENTAL PAYMENTS.
TENANT SHALL PAY THE RENT
PROMPTLY WHEN DUE, WITHOUT NOTICE OR DEMAND, AND WITHOUT ANY ABATEMENT,
DEDUCTION OR SETOFF, EXCEPT AS MAY OTHERWISE BE EXPRESSLY AND SPECIFICALLY
PROVIDED IN THIS LEASE, IN LAWFUL UNITED STATES CURRENCY AND WITHOUT RELIEF FROM
VALUATION AND APPRAISEMENT LAWS.
NO PAYMENT BY TENANT, OR RECEIPT OR ACCEPTANCE
BY AGENT OR LANDLORD, OF A LESSER AMOUNT THAN THE CORRECT RENT SHALL BE DEEMED
TO BE OTHER THAN A PAYMENT ON ACCOUNT, NOR SHALL ANY ENDORSEMENT OR STATEMENT ON
ANY CHECK OR LETTER ACCOMPANYING ANY PAYMENT BE DEEMED AN ACCORD OR
SATISFACTION, AND AGENT OR LANDLORD MAY ACCEPT SUCH PAYMENT WITHOUT PREJUDICE TO
ITS RIGHT TO RECOVER THE BALANCE DUE OR TO PURSUE ANY OTHER REMEDY AVAILABLE TO
LANDLORD.
3.
OPERATING EXPENSES.
3.1.
DEFINITIONAL TERMS RELATING TO ADDITIONAL RENT.
FOR PURPOSES OF
THIS SECTION AND OTHER RELEVANT PROVISIONS OF THE LEASE:
3.1.1.
OPERATING EXPENSES.
THE TERM "OPERATING EXPENSES" SHALL