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01276t:,�..+_EASE_11 U419.pdf -Page 2 <br />not paid within fifteen (1 5) days after the dire date and provided LESSOR has complied with. all <br />applicable notice and cure provisions herein. LESSEE agrees to pay a late charge equal to Six <br />Percent (6%) of the then -current monthly rent. Mental anxounts attributable to partial months <br />shall be prorated on a dailybasis, <br />5. ANNUAL RENTAL LNCREASES, The rent payments shall be subject to an <br />annual rental increase of Four Percent (41✓a) per year,. to be increased on each anniversary of the <br />Commencement Date: <br />6. INITIAL PAYMENT. LESSEE hereby agrees; in lieu of making: an. initial <br />payment,. LESSEE will demolish the existing restroom.building,.as set forth on the Site Plan. <br />attached hereto as Exhibit B. <br />7: EXTENSIONS;I The Lease Agreement may be extended for up to:thme (3) <br />additional five (5)7year terns. (each a "Renewal Terra"). Each Renewal Term shall be on the <br />terms and conditions as set forth herein as follows- <br />(i) Si t (6} months prior to the expiration of the initial `term, if. LESSOR, in its reasonable <br />discretion determines. that LESSEE's continued tenancy is not in conformity with LESSOR's <br />intendedf use of the Property, LESSOR shalt provide written notice to LESSEE that the Lease <br />will not be extended. <br />{ i) Thereafter, each subsequent renewal 'shall be subject to the following procedures If <br />LESSEE determitnes that it desires to extend the tern. LESSEE. shall provide written notice six <br />(6) months prior to the end of the then -current termVithin, sixty (60).days of receipt of <br />LESSEE's notice, LESSOR shall determine whether such extension is. in'LESSOR's best interest <br />and, ifnot in LESSOR's interest, LESSOR. shaildeny'such extension_ request. <br />If LESSOR does not respond within sixty (60) days; the lease is deemed renewed for an <br />additional Renewal Term, If neither party provides notice As forth:above, the lease shall <br />continue on a month -to -moth. basis, <br />8: GtyERN1yLE gTAL �kPPROVAI S- It is understood and agreed tliatLESSEE°s' <br />ability to use the Premises iscontmgent upon its obtaining alCof the certificates, permits and <br />other approvals (collectively the "Governmental Approvals") that may be required by any <br />Federal, State or Ideal authorities as well as satisfactory soil boring tests which will permit <br />LME.E's use of the Premises asset forth lwrc;in LESSOR shall cooperatewith LESSEE in its <br />ef€ortto obtain such approvals and shall take no aet on, whi6 would adversely affect the status <br />of the Property with respect to the proposed use by lESSEE. <br />Priorto the Commencement Date, LESSEE shall have the right (but not the: obligation) to <br />enter the Premises for the purpose of making necessary inspections and engineering survsys.(and <br />soil tests whero applicable) and otber re} sonkibly not essary tests (collectively "Tests") tq <br />detennh.e Cite suitability gfthe Premises for IXS?+EE's >+acilifies (defined below) -and For the <br />purpose of preparing for the construction. of LESSEE Facilities. In the. event that any of such, <br />.......IT applications for'suclt Govertuneithai Approvals shoiilrl be"ftiially retested"or ariy'Gaverniffental <br />Approval issued to LESSEE is canceled, expires. lapses, or is otherwise. withdrawn or terminated <br />by the governmental authority or soil boring tests are found to be unsatisfactory so that LESSEE <br />will be unable to use the Premises for its intended purposes or LESSEE determines that the <br />25G-9 <br />