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Lessor of rent or the cure of the Breach which Initiated the operation of this paragraph shall not be deemed a waiver by Lessor of the provisions of this paragraph
<br />unless specifically so stated In writing by Lessor at the time of such acceptance.
<br />13.4 Late Charges, lessee hereby acknowledges that late payment by Lessee of Rent will cause Lessor to Incur costs not contemplated by this Lease, the exact
<br />amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be
<br />Imposed upon Lessor by any Lender. Accordingly, If any Rent shall not be received by Lessor within 5 days after such amount shall be due, then, without any
<br />requirement for notice to Lessee, Lessee shall Immediately pay to lessor a one-time late charge equal to 10% of each such overdue amount or $100, whichever is
<br />greater. The Parties hereby agree that such late charge represents afairand reasonable estimate of the costs lessorwlll Incur by reason of such late payment.
<br />Acceptance of such late charge by Lessor shall In no event constitute a waiver of Lessee's Default or Breach with respect to such overdue amount, nor prevent the
<br />exercise of any of the other rights and remedies granted hereunder. In the event that a late charge Is payable hereunder, whether or-net collected, far 3- consecutive
<br />installments of. Bate Rent, then notwithstanding any previilen oi this U»i8-tfr4ho.<onuarv, Base Rent shall, at Lettotls-aptlonr become-due and payable-quarterly in.
<br />13.5 Interest. Any monetary payment due Lessor hereunder, other than late charges, not received by Lessor, when due shall bear interest from the 31st day
<br />after It was due. The Interest (“Interest") charged shall be computed at the rate of 10% per annum but shall not exceed the maximum rate allowed by law. Interest Is
<br />payable in addition to the potential late charge provided for In Paragraph 13.4.
<br />13.6 Breach by Lessor.
<br />(a) Notice of Breach. Lessor shall not be deemed in breach of this Lease unless Lessor falls within a reasonable time to perform an obligation required to
<br />be performed by lessor. For purposes of this Paragraph, a reasonable time shall In no event be less than 30 days after receipt by Lessor, and any Lender whose name
<br />and address shall have been furnished to lessee In writing for such purpose, of written notice specifying wherein such obligation of lessor has not been performed;
<br />provided, however, that If the nature of lessor's obligation is such that more than 30 days are reasonably required for its performance, then Lessor shall not be In
<br />breach if performance is commenced within such 30 day period and thereafter diligently pursued to completion.
<br />(b) Performance by lessee on Behalf of lessor. In the event that neither lessor nor lender cures said breach within 30 days after receipt of said notice,
<br />or if having commenced said cure they do not diligently pursue It to completion, then Lessee may elect to cure said breach at Lessee's expense and offset from Rent
<br />the actual and reasonable cost to perform such cure, provided, however, that such offset shall not exceed an amount equal to the greater of one month's Base Rent or
<br />the Security Deposit, reserving Lessee's right to seek reimbursement from Lessor for any such expense in excess of such offset, lessee shall document the cost of said
<br />cure and supply said documentation to lessor.
<br />14. Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power
<br />(collectively "Condemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes tltleor possession, whichever first occurs.
<br />If more than 10% of the Building, or more than 25% of that portion of the Premises not occupied by any building, Is taken by Condemnation, Lessee may, at Lessee's
<br />option, to be exercised In writing within lOdays after Lessor shall have given Lessee written notice of such taking (or In the absence of such notice, within 10 days
<br />after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If lessee does not
<br />terminate this Lease In accordance with the foregoing, this Lease shall remain In full force and effect as to the portion of the Premises remaining, except that the Base
<br />Rent shall be reduced In proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the
<br />property of Lessor, whether such award shall be made as compensation for diminution In value of the leasehold, the value of the part taken, or for severance
<br />damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill
<br />and/or Trade Fixtures, without regard to whether or not this Lease Is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations
<br />made to the Premises by lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all
<br />compensation which Is payable therefor. In the event that this Lease Is not terminated by reason of the Condemnation, Lessor shall repair any damage to the
<br />Premises caused by such Condemnation.
<br />IS.- Brokerage Feet,
<br />15.1-Addfflonal Commission In addition La thopaymantt owed pursuant to Paragraph4.Pabove, Lester agreea thati (a) If Uiiee.exertlteseey Option,(b)i(
<br />Lessee or anyone affiliated with letceeacqulret any rights to the Premises or ether premises owned by lesser and located within the tame.Project, If any, within
<br />whjth4he-Psomlsos.ls.toeated,(<)lf.Uisee remains in possession oltbe Promises, with the-tonsent of Uttar, after the explratjosiof thit lease, or (d)if Bate Rent It.
<br />Increased, whether by-agreement at operation of. an escalation clause herein, then, lesser tlwH.pay Brokers a fee In accordance with the foe schadulo-otthe-Broker t-lo
<br />effect auhe time the lease eras, executed. The provisions of this paragraph a re intended to supersede the provisions of any earlier agreamanUo-thoeontrery.
<br />It.! Assumption of Obligations Any buyer er transferee of Letter's interest In this lease shall be deemed to have assumed lessor's obligation hereunder.
<br />Brokers chalUae-third-party benellclariesol the provisions of Paragraphs 1.0, IS, 33 and 31.-If tetios.falls.lo paytoBrohofs-anyamounu due at and for brokerage feet
<br />perlainiog4o.thls.Uaie when duorthen-such amounts shall accrue Interest. In addition. If letter falls te pay any amounts to lessee's Broker when due,, lessee s
<br />Broker may tend written notice to Utsor. and Uttee of cueh-failure-end If Usior falls, to pay such amounts within 10 days after said notice, Utsee shall pay-said-
<br />monies to its Broker and offset such amounts against Rent. In addition, Lessee's. Broket than be doomed to. bo a third party bonofUiary of any-commlsslon agreement
<br />entered into by and/or. between Utcor and lessor's Broker for the limited purpose of collecting any brokerage.feoowed.
<br />15.2 Representations and Indemnities of Broker Relationships. Lessee and-Utcor each represent and warrant to the other that it hachad no dealings with any
<br />pertoorfitnirbrokeh-agent or.finder (other than the Brokerpand Afients, If any) In connection with this Uate, and that.no one other than said named Brokers and.
<br />Agents It entitled to.any commission or Under'sfoa in connection herewith, lessee and lettot-doeach-hereby agree to Indemnlfy-protect, defend and hold the other.
<br />harmlossiromand against- liability for compensation or charges which may be claimed by any such unnamed broket; fin tier or other-similar party by.roaion of. any
<br />deaUngcor actions ef she Indemnifying Party Insludingony costs, expenses, attorneys' fees-ro»sonabtyJncws«hwlth.fetpect4l>eteto.
<br />| 16. Estoppel Certificates.
<br />(a) Each Party (as “Responding Party") shall within 10 days after written notice from the other Party (the "Requesting Party") execute, acknowledge and
<br />deliver to the Requesting Party a statement In writing In form similar to the then most current "Estoppel Certificate" form published BY AIR CRE, plus such additional
<br />Information, confirmation and/or statements as may be reasonably requested by the Requesting Party.
<br />(b) If the Responding Party shall fail to execute or deliver the Estoppel Certificate within such 10 day period, the Requesting Party may execute an
<br />Estoppel Certificate stating that: (I) the Lease is in full force and effect without modification except as may be represented by the Requesting Party, (II) there are no
<br />uncured defaults In the Requesting Party's performance, and (ill) If Lessor Is the Requesting Party, not more than one month's rent has been paid in advance.
<br />Prospective purchasers and encumbrancers may rely upon the Requesting Party's Estoppel Certificate, and the Responding Party shall be estopped from denying the
<br />truth of the facts contained in said Certificate. In addition, Lessee acknowledges that any failure on Its part to provide such an Estoppel Certificate will expose Lessor
<br />and potentially cause Lessor to incur costs not contemplated by this lease, the extent of which will be extremely difficult to ascertain. Accordingly, should the
<br />INITIALS
<br />© 2019 AIR CRE. All Rights Reserved.
<br />5TN-27.30, Revised U-2S-2019
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<br />Last Edited; 2/25/2021 9:53 AM
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