WHICH SHALL OCCUR DURING THE TERM OF THIS
LEASE, SHALL EXCEED THE BASE TAX AMOUNT, TENANT SHALL PAY TO LANDLORD AS
ADDITIONAL CHARGES FOR SUCH TAX YEAR AN AMOUNT (THE "TAX PAYMENT") EQUAL TO
TENANT'S TAX SHARE OF THE AMOUNT BY WHICH THE TAXES FOR SUCH TAX YEAR ARE
GREATER THAN THE BASE TAX AMOUNT.
THE TAX PAYMENT FOR EACH TAX YEAR SHALL BE
DUE AND PAYABLE IN INSTALLMENTS IN THE SAME MANNER THAT TAXES FOR SUCH TAX YEAR
ARE DUE AND PAYABLE BY LANDLORD TO THE CITY OF NEW YORK.
TENANT SHALL PAY
TENANT'S TAX SHARE OF EACH SUCH INSTALLMENT WITHIN TEN (10) DAYS AFTER THE
RENDERING OF A STATEMENT THEREFOR BY LANDLORD TO TENANT, WHICH STATEMENT MAY BE
RENDERED BY LANDLORD SO AS TO REQUIRE TENANT'S TAX SHARE OF TAXES TO BE PAID BY
TENANT THIRTY (30) DAYS PRIOR
10
TO THE DATE SUCH TAXES FIRST BECOME DUE.
THE STATEMENT TO BE RENDERED BY
LANDLORD SHALL SET FORTH IN REASONABLE DETAIL THE COMPUTATION OF TENANT'S TAX
SHARE OF THE PARTICULAR INSTALLMENT(S) BEING BILLED (AND, UPON WRITTEN REQUEST
FROM TENANT, LANDLORD SHALL PROVIDE TENANT WITH A COPY OF THE TAX BILL FROM THE
TAXING AUTHORITIES RELEVANT TO THE COMPUTATION OF TENANT'S TAX PAYMENT).
IF
THERE SHALL BE ANY INCREASE IN THE TAXES FOR ANY TAX YEAR, WHETHER DURING OR
AFTER SUCH TAX YEAR, OR IF THERE SHALL BE ANY DECREASE IN THE TAXES FOR ANY TAX
YEAR, THE TAX PAYMENT FOR SUCH TAX YEAR SHALL BE APPROPRIATELY ADJUSTED AND PAID
OR REFUNDED, AS THE CASE MAY BE, IN ACCORDANCE HEREWITH; IN NO EVENT, HOWEVER,
SHALL TAXES BE REDUCED BELOW THE BASE TAX AMOUNT.
IF DURING THE TERM OF THIS
LEASE, TAXES ARE REQUIRED TO BE PAID (EITHER TO THE APPROPRIATE TAXING
AUTHORITIES OR AS TAX ESCROW PAYMENTS TO A SUPERIOR MORTGAGEE) IN FULL OR IN
MONTHLY, QUARTERLY, OR OTHER INSTALLMENTS, ON ANY OTHER DATE OR DATES THAN AS
PRESENTLY REQUIRED, THEN AT LANDLORD'S OPTION, TENANT'S TAX PAYMENTS SHALL BE
CORRESPONDINGLY ACCELERATED OR REVISED SO THAT SAID TENANT'S TAX PAYMENTS ARE
DUE AT LEAST THIRTY (30) DAYS PRIOR TO THE DATE PAYMENTS ARE DUE TO THE TAXING
AUTHORITIES OR SUCH SUPERIOR MORTGAGEE.
(B)
IF LANDLORD SHALL RECEIVE A REFUND OF TAXES
FOR ANY TAX YEAR, LANDLORD SHALL EITHER PAY TO TENANT, OR CREDIT AGAINST
SUBSEQUENT FIXED RENT AND ADDITIONAL CHARGES UNDER THIS LEASE, TENANT'S TAX
SHARE OF THE NET REFUND (AFTER DEDUCTING FROM SUCH TOTAL REFUND THE COSTS AND
EXPENSES, INCLUDING, BUT NOT LIMITED TO, APPRAISAL, ACCOUNTING AND LEGAL FEES OF
OBTAINING THE SAME, TO THE EXTENT THAT SUCH COSTS AND EXPENSES WERE NOT
THERETOFORE COLLECTED FROM TENANT FOR SUCH TAX YEAR) AND LANDLORD SHALL NOTIFY
TENANT OF THE AMOUNT OF SUCH CREDIT IF LANDLORD ELECTS TO PERMIT TENANT SUCH
CREDIT; PROVIDED, HOWEVER, SUCH PAYMENT OR CREDIT TO TENANT SHALL IN NO EVENT
EXCEED TENANT'S TAX PAYMENT PAID FOR SUCH TAX YEAR.
(C)
NOTHING CONTAINED IN THIS LEASE SHALL
OBLIGATE LANDLORD TO BRING ANY APPLICATION OR PROCEEDING SEEKING A