Minutes - 19760824 - Laserfiche WebLink

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~_~:~ _, levies, and assessments levied upon the BUILDING ' - and PP.E~?ISES durir_g the TEP.M of this lease, or any extension hereof, and in the event of default, TENANT, at its election, may pay the same and deduct the amount thereof, together with any penalties and interest tahich may have been paid by TENANT, from ' the RENT next accruing hereunder.. (c) It is expressly understood and agreed that the RENT herein xeserved is based upon in- sur~.nce rates, ad valorem tax rates and property ' valuation prevailing during the first year of occupancy under this lease. In the event that said insurance rates, tax rates or property va1- uation are thereafter decreased during the TERM of this lease, ox any extension hereof, LANDLORD shall credit to the account of TENANT an amount equal to any resulting decrease in cost of insur- an~e or taxes. In the event said insurance rates, tax rates, or property valuation are thereafter increased during the TERM of this ].ease, or any extension hereof, TENANT shall pay to LANDLORD, as additional rental, an amount equal to any re~ suiting increase in cost of insurance or taxes. It is further agreed, however, if TENANT shall pay or become bound and obligated to pay to LANDLORD as additional rental far any lease year during which such increase in cost of insurance or taxes ' shall occur, a percentage RENT aver and above the annual base, fixed, or guaranteed minimtua RENT herein reserved, LANDLORD shall apply or credit in payment thereof the percentage RENT paid or re- ' quired to be paid by TENANT. MERCHANTS' 22. If there should be established an association ASSOCIATION of the merchants engaged in business in the SHOPPING CENTER, TENANT agrees that it shall main' fain membership in said association and make annua%. contributions thexeto in accordance with the sch2d- ule of rates determined by the governing board of ' such Merchants' Association. TENANT shall abide by all decisions made by and will adapt store hours prescribed by said MERCHANTS' ASSOCTATTON and approved by LANDLORA. TENANT shall conduct and operate its said business in a manner in keeping with the dignity and reputation of the SHOPPING CENTER and will make all reasonable effort to work harmoniously with other merchants in the SHOPPING CENTER. ALTERATIONS 23. TEN_~1NT may make minor alterations to the interior.of the PREMISES sa that the same shall _ cor_form to the uses of said business, provided such alterations shall be paade at the expense of TENANT with the prior approval of and under the supervision of LANDLORA'S architect ox can- tractax. -11-