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Last modified
10/20/2015 3:06:08 PM
Creation date
10/20/2015 2:55:50 PM
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Contracts
Contract #
A-1998-164
Agency
Community Development
Destruction Year
2007
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B. Beneficial Occupancy Date. The Premises shall be deemed ready for beneficial occupancy )herein <br />"Bereficial occupancy Date ") when owner shall have substantially completed all of its obligations <br />(if any) under Exhibit "B". <br />Owner's sole construction obligation (if any) regarding leasehold improvements for Tenant shall be <br />as set forth in Exhibit "B ". If Exhibit "B" states that it has been intentionally omitted from this <br />Lease or if there is no Exhibit "B" attached to this Lease, Owner shall have no construction obliga- <br />tions whatsoever regarding leasehold improvements for Tenant. By taking possession of the Premises, <br />Tenant acknowledges having inspected same and accepts the Premises as being in good and sanitary <br />order, condition and repair, and accepts the improvements (if any) as having been completed in <br />accordance with the provisions of Exhibit "B" hereof. <br />ARTICLE 4. MT. <br />Tenant shall pay to Owner annual basic rent for the Premises in the amount set forth in Paragraph J <br />of the Basic Lease Provisions, subject to adjustment as provided in Rider(s) attached hereto. Said <br />annual basic rent shall be paid in advance on or before the first day of each and every calendar <br />month during the term hereof in the amount per month set forth in Paragraph J of the Basic Lase <br />Provisions. If the Co®encemeiit Late is other than the first day of a calendar month, the rent pay- <br />able hereunder shall be prorated and the rent for the partial month following the Commencement Date <br />shall be payable on the first day of the first full calendar month of the term, together with the <br />regular monthly payment then due. All subsequent monthly rental payments ahll'be paid in advance on <br />the first day of each calendar month. All payments requiring proration shall be prorated on the <br />basis of a 30 day month. <br />Any amounts payable by Tenant in addition to the above described basic rent shall be deemed addi <br />tional rent payable by Tenant, and in the event of nonpayment thereof, Owner shall have the same <br />rights with respect to such nonpayment as it has with respect to any nonpayment of basic rent. <br />Said rent shall be paid to Owner without reduction or set off, in lawful money of the United States, <br />to Owner or its agent at the address set forth in Paragraph M of the; Basic Lase Provisions, or to <br />such otter person or at such other place as Owner may from time to time designate in writing. <br />ARTICLE 5. FURCE KkT=. <br />If either party, except as otherwise herein specifically provided, shall be delayed or hindered in <br />or prevented from the performance of any act required hereunder by reason of strikes, lockouts, <br />labor troubles, inability to procure materials, failure of power, restrictive governmental laws or <br />regulations, riots, insurrection, war or other reason of a like nature not the fault of the party <br />delayed in performing work or doing acts required under the terms of this Lease, then performance of <br />such act shall be excused for the period of delay and the period of the performance of any such act <br />shall be extended for a period equivalent to the period of such delay. In the event of any incorr- <br />sistency between this Article and Exhibit "B" of this Lease, the provisions of Exhibit 'T' shall <br />prevail. The provisions of this Article shall not operate to excuse Tenant from the prompt payment <br />of basic rent, additional rent or any other payments required by the terms of this Lease. <br />Concurrently with the execution of this Lase, Tenant shall deposit with Owner the sum stated in <br />Paragraph L of the Basic Lease Provisions, as partial consideration for Owner entering into this <br />Ian <br />-2- <br />
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