Agenda - 02-15-1994 - VIII-J - Laserfiche WebLink

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8 port paid to reimburse LANDLORD for its additional administrative costs. In addition, any Rent which is not paid when due shall bear interest at the Default Rate(which shall be the higher of eighteen percent(18%)or the highest rate permitted by law)from the first day due until paid. Any payment by TENANT or acceptance by LANDLORD of a lesser amount than shall be due from TENANT to LANDLORD shall be treated as a payment on account. The acceptance by LANDLORD of a check for a lesser amount with an endorsement or statement thereon,or upon any letter accompanying such check, that such lesser amount is payment in full shall be given no effect, and LANDLORD may accept such check without prejudice to any other rights or remedies which LANDLORD may have against TENANT. 4.06. Arimiall AftMIMM in Raft and Odw At the end of every Lease Year, the annual amount to be paid by TENANT for Minimum Rent, Marketing Fund, and WAC Maintenance shall be increased by the higher of(a)six percent(60/o)over the preceding Lease Year,or(b)the increase in the CPI(as hereafter defined)for that Lease Year. The adjustments shall take effect with the rent payment due each January 1,and shall be calculated based on the increase in the CPI published the prior October,over that published the October one year before. CPI shall mean the Consumer Price Index- U.S. City Average for Urban Wage Earners and Clerical Workers,All Items(1982= 100)of the United States Bureau of Labor Statistics. ARTICLE V RECORDS AND REPORTS 5.01. TENAKM TENANT shall maintain and keep at TENANT'S home office a full, complete and accurate permanent record and account of all Gross Sales,conducted at or from Premises by or for the account of TENANT,for each day of the Term hereof. Records are to be maintained in accordanoe with generally accepted accounting principles. LANDLORD shall have the right, at any reasonable time, to examine such books and records (inducing all tax retums)or have them audited,at the LANDLORD'S expense,except that if any such examination or audit discloses a deficiency of more than two percent(2%)in any annual statement of Gross Sales furnished by TENANT to LANDLORD, then TENANT shall pay the actual cost of such examination or audit,and shall immediately pay any deficiency in Percentage Rent,plus a penalty of ten percent(100/6)of the deficiency. ARM=VI USE HD OPERAMON 6.01 Pwmkbcl TENANT shall use the Premises for the uses designated as permitted uses in Article I and for no other purpose without LANDLORD'S written consent. Any variation or deviation from the specific use expressly set forth herein shall be deemed a default of this Lease. TENANT shall conduct its business in the Premises continuously to achieve maximum sales volume on all days and at all hours in which the Shopping Center is open and shall conduct its business only under the trade name designated in Article 1. The LANDLORD does not warrant or make any representation that the TENANT will have the exclusive right to sell any items or services in this Shopping Center. 6.02 Ckirdnixiin TENANT covenants and agrees to remain open for business at least during the store hours, as specified in Article I, and such additional hours for special promotions and holi days, as shall be determined by LANDLORD. If TENANT fails to operate during these hours it shall constitute a default hereunder entitling LANDLORD to pursue any remedies it may have,including temrinating this Lease. If TENANT shall request LANDLORD'S approval of the opening of the Premises for business for periods exceeding those specified in Article I,and LANDLORD shall approve such request,TENANT shall pay for any additional costs incurred by LANDLORD. 6.03. QuXbm vAlh TENANT will not breach or suffer the breach of any laws, statutory regulations, covenants, oondtions or restrictions affecting the Shopping Center or the Premises, each shall use and occupy the Premises in strict compliance therewith and in compliance with LANDLORD'S rules and regulations. TENANT shall not do or pemtit anything to be done in or about the Premises which will in ary way obstruct or interfere with the rights of other tenants or oomipants of the Shopping Center,or use or allow the Premises to be used for any improper, immoral, unlawful, objectional purpose, nor shall TENANT cause, maintain, or pemA any nuisance in or about the Premises. TENANT shall, at its sole cost and expense, comply with all laws, ales, regulations and requirements now in force, or which may hereafter be enacted, relating to or affecting the condition, use or occupancy of the Premises. TENANT 6