SAME, ANY TAXES IMPOSED OR CALCULATED ON TENANT'S RENT OR WITH RESPECT
TO TENANT BUSINESS OR RIGHT TO DO BUSINESS IN THE DEMISED PREMISES SUCH AS, BUT
NOT LIMITED TO, A GROSS RECEIPTS TAX ON RENTS OR A BUSINESS PRIVILEGE TAX,
WHETHER SUCH TAX EXISTS AT THE DATE OF THE LEASE OR IS ADOPTED THEREAFTER.
2.7.
LATE PAYMENT CHARGES.
SHOULD TENANT FAIL TO PAY WHEN DUE ANY
INSTALLMENT OF MINIMUM ANNUAL RENT WITHIN TEN (10) DAYS OF THE DATE WHEN DUE, OR
ANY OTHER SUM PAYABLE TO LANDLORD UNDER THE TERMS OF THE LEASE WITHIN TEN (10)
DAYS OF THE DATE WHEN DUE, THEN INTEREST SHALL ACCRUE FROM AND AFTER THE DATE ON
WHICH ANY SUM SHALL BE DUE AND PAYABLE, AND SUCH INTEREST TOGETHER WITH A LATE
CHARGE OF FIVE PERCENT (5%) OF THE AMOUNT DUE TO COVER THE EXTRA EXPENSE
INVOLVED IN HANDLING SUCH DELINQUENCY SHALL BE PAID BY TENANT TO LANDLORD AT THE
TIME OF PAYMENT OF THE DELINQUENT SUM.
2.8.
INTEREST.
WHENEVER THE LEASE REFERS TO "INTEREST", THE SAME SHALL
BE COMPUTED AT A RATE EQUAL TO FIFTEEN PERCENT (15%).
IF, HOWEVER, PAYMENT OF
INTEREST AT SUCH RATE BY TENANT SHOULD BE CONSIDERED BY LAW AS USURIOUS, THEN
INTEREST SHALL BE COMPUTED AT THE MAXIMUM RATE ALLOWABLE BY LAW FOR SUCH PARTY.
6
3.
CONDITION AND USE OF THE DEMISED
PREMISES AND CENTER.
3.1.
CONDITION OF THE DEMISED PREMISES.
TENANT ACKNOWLEDGES THAT IT
HAS EXAMINED AND INSPECTED THE DEMISED PREMISES AND THE PLANS FOR THE DEMISED
PREMISES REFERENCED ON EXHIBIT "C"; AND IS FAMILIAR WITH THE PHYSICAL CONDITION
THEREOF.
IF EXHIBIT "B" INDICATES DELIVERY OF THE DEMISED PREMISES "AS IS",
THEN TENANT FURTHER ACKNOWLEDGES (I) THAT LANDLORD HAS NOT MADE AND DOES NOT
HEREBY MAKE ANY REPRESENTATIONS REGARDING THE PHYSICAL CONDITION OF THE DEMISED
PREMISES, (II) THAT THERE ARE NO WARRANTIES, EITHER EXPRESS OR IMPLIED,
REGARDING THE CONDITION OF THE DEMISED PREMISES, (III) ANY SUCH WARRANTIES WHICH
MAY EXIST ARE HEREBY EXPRESSLY RELEASED AND WAIVED, AND (IV) TENANT HEREBY
AGREES TO ACCEPT THE DEMISED PREMISES IN ITS "AS IS" CONDITION WHICH SHALL BE
DEEMED TO BE ACKNOWLEDGED UPON TENANT'S FAILURE TO OBJECT TO THE CONDITION OF
THE DEMISED PREMISES PRIOR TO THE COMMENCEMENT OF THE TERM AS DEFINED IN ARTICLE
1.3 HEREOF.
IN THE CASE WHERE EXHIBIT "B" REQUIRES LANDLORD TO PERFORM CERTAIN
DEFINED WORK, TENANT ACKNOWLEDGES THAT THE EXISTING CONDITION OF THE DEMISED
PREMISES WITH ONLY THE DEFINED WORK COMPLETED SHALL COMPLETE LANDLORD'S
RESPONSIBILITY FOR DELIVERY OF THE DEMISED PREMISES.
LANDLORD WILL
SUBSTANTIALLY COMPLETE CONSTRUCTION OF THE DEMISED PREMISES IN ACCORDANCE WITH
THE DEFINED WORK IN EXHIBIT "C" PRIOR TO THE COMMENCEMENT OF THE LEASE.
TENANT
AGREES TO COOPERATE WITH LANDLORD WITH RESPECT TO SUCH WORK.
ANY DELAYS IN
COMPLETING THE CONSTRUCTION IN THE DEMISED PREMISES CAUSED BY TENANT'S ACTIONS
OR FAILURE TO ACT SHALL NOT BE THE RESPONSIBILITY OF THE LANDLORD AND SHALL NOT
MODIFY TENANT'S OBLIGATION TO COMMENCE PAYMENT OF RENT AND OTHER CHARGES ON THE
COMMENCEMENT DATE OF THE TERM.
3.2.