Agenda - 01-24-2012 - 5k - Laserfiche WebLink

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The annual rental payable hereunder shall be adjusted every Lease Year Anniversary by two percent (2%) over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed. Any monthly or annual rental(s) spanning a time period that includes a Lease Year Anniversary shall be prorated so that this two percent (2%) escalation applies only to periods of occupancy that occur after the Lease Year Anniversary. Tenant shall pay all rental to Landlord's Agent at the following address: PTA Thrift Store Managers, LLC, P.O. Box 356, Carrboro, NC 27510. LATE CHARGES 4. If Landlord fails to receive full rental payment (either monthly or annual) within fifteen (15) days after it becomes due, Tenant shall pay Landlord, as additional rental, a late charge equal to three percent (3%) of the overdue amount of the monthly (not annual) rental or three hundred dollars ($300),whichever is greater. The parties agree that such a late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of such late payment. SECURTTY DEPOSTT 5. Tenant shall not be required to make a security deposit. UTILITY BILLS/SERVICE CONTRACTS 6. Landlord and Tenant agree that utility bills and service contracts ("Service Obligations") for the Premises shall be paid by the party indicated below as to each Service Obligation. In each instance, the party undertaking responsibility for payment of a Service Obligation covenants that they will pay the applicable bills prior to delinquency. The responsibility to pay for a Service Obligation shall include all metering, hook-up fees or other miscellaneous charges associated with establishing, installing and maintaining such utility or contract in said party's name. Within thirty (30) days of the Lease Commencement Date, Tenant shall provide Landlord with a copy of any requested Tenant Service Obligation information. Service Obligation Sewer/Septic Water Electric Gas Telephone HVAC (maintenance/service contract) Elevator (including phone line) Security System Fiber Optic Janitor/Cleaning Trash/Dumpster Landscaping/Maintenance Sprinkler System (including phone line) Pest Control Landlord Tenant Not Applicable ® ^ ^ ® ^ ^ ^ ® ^ ^ ® ^ ^ ® ^ ^ ® ^ ® ^ ^ ® ^ ^ ^ ® ^ ^ ® ^ ® ^ a ® a o ® ^ ^ ® ^ ^ Landlord shall not be liable for injury to Tenant's business or loss of income therefrom or for damage that maybe sustained by the person, merchandise or personal property of Tenant, its employees, agents, invitees or contractors or any other person in or about the Premises, caused by or resulting from f re, steam, electricity, gas, water or rain, which may leak or flow from or into any part of the Premises, or from the breakage, leakage, obstruction or other defects of any utility installations, air conditioning system or other components of the Premises or the Property, except to the extent that such damage or loss is caused by Landlord's negligence or willful misconduct. Landlord represents and warrants that with respect to the heating, ventilation and air conditioning system(s) and utility installations existing as of the Lease Commencement Date shall be in good order and repair. Subject to the provisions of this