02-10-2003 Council Packet - Laserfiche WebLink

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At the end of the initial term. Landlord may increase the rent by providing Tenant with written notice of at least ninety (90) days prior to the expiration date of the Initial Term or Renewal Term; provided, however, that in the event Landlord adjusts the rent upward. Tenant may terminate the Lease effective as of the date the Rent is set to increase, by giving notice of such termination to Landlord within thirty (30) days prior to the expiration of the Initial Term or Renewal Term. (^5) Late Paym.ent Fee. If Tenant fails to pay Rent, or any installment thereof, on the date the same is due and payable. Tenant shall automatically be assessed and shall pay, as Additional Rent and not as a penalty, a late charge equivalent to five percent (5%) of the amount of such late payment. 8.) LIENS. Tenant shall not suffer or permit any statements ofmechanic ’s or other liens to be filed against the Premises or any part thereof by reason of work, labor, services, or materials supplied or claimed to have been supplied to Tenant or anyone holding the Premises or any part thereof through or under Tenant. If any such lien snail at any time be filed against the Premises, Tenant shall cause the same to be discharged of record or shall deposit with the court an amount equal to one hundred twenty-five percent (125%) of the amount claimed, within thirty (30) days after the date of actual notice to Tenant of filing the same. If Tenant shall fail to discharge such lien or to deposit such amount within such period, then, in addition to any other right or remedy of Landlord, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit in court or by giving security or in such other manner as is, or may be, prescribed by law. Any amount paid by Landlord for any of the aforesaid purposes, and all reasonable other expenses of Landlord, including reasonable attorneys ’ fees, in or about procuring the discharge of such lien, and all necessary disbursements in connection therewith, together with interest thereon at the lower of the maximum rate allowed by applicable law or the rate of twelve percent (12%) per annum from the date of pa>ment. Nothing herein contained shall imply any consent or agreement on the part of Landlord to subject Landlord ’s estate to liability under any mechanic’s lien law. 9.) QUIET ENJOYMENT. Landlord represents and warrants that; (i) it is the lawful owmer of the Premises; (ii) that it has the full right and power to make this Lease; (iii) that if and so long as Tenant shall not be in default hereunder. Tenant shall quietly hold, occupy, and enjoy the Premises during all of the Temi. 10.) ASSIGNMENT AND SUBI.F.TTINf: (a) Transfers Prohibited. Tenant shall not assign or transfer any of its rights under this lease or sublease any part of the premises. Any assignment or subletting of the premises is prohibited. *L) DEFAULTS OF TENANT AND LANDLORD’S RFMFnir«>; i