ANY
RENT IN DEFAULT, OR IN REIMBURSEMENT OF ANY EXPENSE INCURRED BY LANDLORD OR IN
PAYMENT OF THE DAMAGES INCURRED BY LANDLORD BY REASON OF TENANT'S DEFAULT, AFTER
ANY APPLICABLE GRACE AND CURE PERIOD.
IN SUCH EVENT, TENANT SHALL, UPON WRITTEN
DEMAND FROM LANDLORD, IMMEDIATELY REMIT TO LANDLORD A SUFFICIENT AMOUNT IN CASH
TO RESTORE THE SECURITY DEPOSIT TO EQUAL THE SECURITY DEPOSIT AMOUNT.
WITHIN 30
DAYS AFTER THE EXPIRATION OF THIS LEASE AND SURRENDER OF THE DEMISED PREMISES IN
ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LEASE, AND IN THE EVENT THE
SECURITY DEPOSIT HAS NOT BEEN UTILIZED AS AFORESAID, THE SECURITY DEPOSIT, OR AS
MUCH THEREOF AS HAS NOT BEEN UTILIZED FOR SUCH PURPOSES, SHALL BE REFUNDED TO
TENANT WITHOUT INTEREST.
LANDLORD MAY DELIVER THE SECURITY DEPOSIT TO THE
PURCHASER OF LANDLORD'S INTEREST IN THE DEMISED PREMISES IN THE EVENT SUCH
INTEREST IS SOLD, AND, IN SUCH INSTANCE, LANDLORD NAMED HEREIN SHALL BE
DISCHARGED FROM ANY FURTHER LIABILITY WITH RESPECT TO THE SECURITY DEPOSIT AND
TENANT SHALL LOOK TO LANDLORD'S SUCCESSOR FOR THE RETURN OF THE SECURITY
DEPOSIT.
NOTWITHSTANDING THE FOREGOING, IF ANY CLAIMS OF LANDLORD EXCEED THE
AMOUNT OF THE SECURITY DEPOSIT, TENANT SHALL REMAIN LIABLE FOR THE BALANCE OF
SUCH CLAIMS.
3.5
RENT PAYMENTS.
All Rent payments shall be made to Landlord at the address set forth in
Article l, or at such other place designated by Landlord in writing, in lawful
currency of the United States of America.
Rent payments applicable to partial
months falling within the Term or occurring as a result of the application of
the Monthly Fixed Rent payable upon Lease execution shall be prorated.
ARTICLE 4
TENANT'S SHARE OF OPERATING COSTS AND TAXES
4.1
DEFINITIONS.
As used herein:
(A)
"OPERATING COSTS" SHALL MEAN ANY AND ALL
COSTS, CHARGES, EXPENSES AND DISBURSEMENTS OF EVERY KIND AND NATURE WHICH
LANDLORD SHALL PAY OR BECOME OBLIGATED TO PAY IN CONNECTION WITH THE OPERATION,
OWNERSHIP, MAINTENANCE, PROPERTY MANAGEMENT, AND REPAIR OF THE PROPERTY (AND NO
OTHER PROPERTIES), INCLUDING, WITHOUT BEING LIMITED TO, THE FOLLOWING:
(1)
ALL WAGE, SALARY AND LABOR COSTS OF ALL
PERSONS BUT ONLY FOR THAT PORTION OF THE TIME SUCH PERSONS ARE ENGAGED IN THE
OPERATION, MAINTENANCE, PROPERTY MANAGEMENT, AND REPAIR OF THE PROPERTY AND NO
OTHER PROPERTIES (INCLUDING, WITHOUT BEING LIMITED TO, ALL APPLICABLE TAXES,
INSURANCE AND BENEFITS), BUT EXPRESSLY EXCLUDING ANY ONE PERFORMING ASSET
MANAGEMENT SERVICES.
9
(2)
COSTS OF ANY UTILITIES SUPPLIED BY LANDLORD
(INCLUDING, WITHOUT BEING LIMITED TO, HEAT, ELECTRICITY, GAS, WATER AND SEWER),
FUEL AND SUPPLIES AND MATERIALS AND COSTS OF THE OPERATION AND MAINTENANCE OF
ALL PROPERTY SYSTEMS (INCLUDING, WITHOUT BEING LIMITED TO, HEATING, VENTILATION
AND AIR-CONDITIONING ("HVAC") SYSTEMS AND TELECOMMUNICATIONS SYSTEMS).
(3)
COSTS TO INSURE THE PROPERTY (AND NO OTHER
PROPERTIES) AND INCIDENTS RELATING TO THE PROPERTY (AND NO OTHER PROPERTIES),
INCLUDING, WITHOUT BEING LIMITED TO, CASUALTY, WORKERS' COMPENSATION, RENTAL AND
LIABILITY INSURANCE; PROVIDED, HOWEVER THAT DEDUCTIBLES OF SUCH INSURANCE
COVERAGE SHALL NOT EXCEED COMMERCIALLY REASONABLE AMOUNTS FROM TIME TO TIME FOR
SIMILAR