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17 <br />c. Tenant is solely responsible for contracting for upfits. <br />d. Landlord's approval is required for Tenant's choice of contractors and design <br />professionals unless they are selected through a required public bidding process. <br />e. Tenant will have at least 60 days to make upfits before rent obligation begins. <br />5. LATE FEES AND SECURITY DEPOSIT. <br />a. Landlord may assess late charge of $300 or 39'a of monthly rent, whichever is greater. <br />b. No security deposit. <br />6. UTILITIES. <br />a. Landlord is responsible for sewer/septic, water, elevator, security system, <br />trash/dumpster, landscaping/maintenance, sprinkler system, and pest control. <br />b. Tenant is responsible for electric, gas, telephone, fiber optic, heating/air conditioning <br />and janitor/cleaning. <br />7. TAXES. <br />a. Landlord will pay all property taxes and fire insurance. <br />b. Tenant will pay its proportionate share (based on square footage) of any increases in <br />property tax and fire insurance throughout the term. <br />8. INSURANCE AND INDEMNITY. <br />a. Tenant will maintain general liability insurance with limits of $1 million per occurrence <br />and $3 million aggregate. <br />b. Each party will indemnify the other for damages caused by the negligence or willful <br />misconduct of the other party's agents, employees, contractors, or guests. <br />c. Neither party is responsible to the other for losses covered by insurance. <br />9. REPAIRS. <br />a. Landlord is responsible for common areas as well as roof, foundation, structural <br />supports, and exterior walls. <br />b. Tenant is responsible for light fixtures, plumbing fixtures, and water heaters. <br />c. Tenant is responsible for individual HVAC repairs of $250 or less, with an annual limit of <br />$2,500. Landlord is responsible for any HVAC repairs over these amounts. <br />d. Landlord's approval is required forTenant's choice of contractor for repairs costing <br />more than $1,000 unless selected through a required public bidding process. <br />10. ALTERATIONS. <br />a. Landlord approval is required for any alteration costing more than $1,000. Consent may <br />not unreasonably be withheld. <br />b. Landlord's approval is required for Tenants choice of contractor for alterations costing <br />more than $1,000 unless selected through a required public bidding process. <br />11. REMEDIES FOR DEFAULT. <br />a. If Tenant materially breaches the lease, Landlord may: <br />i. Terminate the lease and seek damages, or <br />ii. Re-let the premises at the best price obtainable using reasonable efforts and <br />charge Tenant for any deficiency over the seven-year term. <br />b. (Negotiated out provisions that would have allowed Landlord to terminate and require <br />Tenant to pay full rent for full term and/or to re-let without using reasonable efforts to <br />obtain a fair rent). <br />c. Failure to pay rent is not a material breach unless Tenant has still not paid within 10 <br />business days of receiving written notice from Landlord that rent is past due. <br />