INTERNATIONAL TOUR SERVICE - Laserfiche WebLink

Home Browse Search

` B. Beneficial Occupancy Date. The Premises shall be deemed ready for beneficial occupancy )herein "Beneficial Occupancy Date") when owner stall have substantially completed all of its obligations (if any) raider Exhibit "V'. Owner's sole construction obligation (if any) regarding leasehold improvements for Tenant shall be as set forth in Eiddbit "B'. if Exhibit "B" states that it has been intentionally omitted from this lease or if there is no Exhibit "V' attached to this lease, owner shall have no construction obliga- tions whatsoever regarding leasehold improvements for Tenant. By taking possession of the Premises, Tenant acknowledges having inspected same and accepts the Premises as being in good and sanitary order, condition and repair, and accepts the improvements (if airy) as having been completed in accordance with the provisions of Exhibit '$" hereof. Tenant shall pay to Owner annual basic rent for the Premises in the amrnant set forth in Paragraph J of the Basic Lease Provisions, subject to adjustment as provided in Rider(s) attached hereto. Said annual basic rent shall be paid in advance on or before the first day, of each and every calendar month during the term hereof in the amount per month set forth in Paragraph J of the Basic Lease Provisions. If the Commencement Date is other than the first day of a calendar month, the rent pay- able hereunder shall be prorated and the rent for the partial month following the Cannencement Date shall be payable on the first day of the first full calendar month of the term, together with the regular monthly payment then due. All subsequent monthly rental payments ahll be paid in advance on the first day of each calendar month. All payments requiring proration shall be prorated on the basis of a 30 day month. Any awu nts payable by Tenant in addition to the above described basic rent shall be deed addi tional rent payable by Tenant, and in the event of nonpayment thereof, owner shall have the same rights with respect to such nonpayment as it bas with respect to any nonpayment of basic rent. Said rent shall be paid to Owner without reduction or set off, in lawful money of the United States, to Owner or its agent at the address set forth in Paragraph M of the Basic Lease Provisions, or to such other person or at such other place as Owner may from time to time designate in writing. U either party, except as otherwise herein specifically provided, shall be delayed or hindered in or prevented from the performmnce of any act required hereunder by reason of strikes, lockouts, labor troubles, inability to procure materials, failure of power, restrictive governmental laws or regulations, riots, insurrection, war or other reason of a like nature not the fault of the party delayed in performing work or doing acts required under the teams of this Lease, then performance of such act shall be excused for the period of delay and the period of the performance of any such act shall be extended for a period equivalent to the period of such delay. In the event of any incorr sistency between this Article and Exhibit 'B" of this lease, the provisions of Exhibit ''M' shall prevail. The provisions of this Article shall not operate to excuse Tenant from the prompt payment of basic rent, additional rent or any other payments required by the teams of this lease. ARTICLE 6. SECURM DEPOSM Concurrently with the execution of this Lease, Tenant shall deposit with owner the am stated in Paragraph L of the Basic Lease Provisions, as partial consideration for Owner entering into this MAR 1988 -2-