Agenda - 11-19-1985 - Laserfiche WebLink

Browse Search

• 018 additional rent aad the method of payment thereof shall be calculated and • determined in the manner set forth under the following paragraph. Cc) Within thirty C30) days after the publication and issuance thereof, the Lessor shall deliver to the Lessee a copy of the Consumer Price Index (hereinafter referred to as the "Index") for Atlanta, Georgia, for all items of the Bureau of Labor Statistics of the United States Department of Labor for the first month of the first lease year (hereinafter referred to as the "Base Month") and for the corresponding month in each lease year thereafter. If the Index for the first month of the second lease year and for each corresponding month in each lease year thereafter shows a decrease in the purchasing power of the amount of the Annual Base Rent as compared, in each such case, to the Index for the Base Month, the Lessor, as soon as possible after the delivery of each index subsequent to the Index for the Base Month, shall furnish the Lessee with its computation of the amount • equal to such decrease, if any, and this amount shall be the amount of the additional rent payable by the Lessee for the lease•year in question. Such additional rent shall be divided and paid in twelve (12) equal monthly in- stallments during each such lease year.. Pending the determination of the additional amount of rent, if any, to be paid by the Lessee; and when the additional amount of rent has been determined, the Lessee on the first day of the month immediately following the furnishing by the Lessor to the Lessee of the computation thereof, shall pay the Lessor the number of in- : stallments that shall have lapsed from the commencement of the lease year in question up to and including the first day of such month. (d) If at the time required for the determination of the addi- tional rent the Index is no longer published or issued, the parties shall use such other index as has been generally recognized and accepted for simi- lar determinations of purchasing power. If the parties are unable to agree on the selection of an index which would moat accurately carry out the in- tent hereof or if there is a dispute with respect to the computation of addi- tional rent as herein provided, then the issue with respect thereto shall be determined by an arbitrator appointed by the Carrboro, North Carolina Board of Realtors. (e) In no event shall the total annual rent due during any lease year hereunder be less than the Annual Base Rent provided hereinabove. (f) If any rent owing under this lease is collected by or through an attorney-at-law, Lessee agrees to pay Lessor as Attorney's fees an amount equal to twenty percent (202) of the amount so collected. 3. Utilities. Lessor shall supply electric current for the Lighting fixtures as installed in the leased area, corridors, toilets, and rest rooms and for electric typewriters, mimeograph machines, adding machines and•other similar electrically powered office machines requiring comparable amounts of electric power, and shall replace defective lights as needed; provided, how- ever, the Lessor shall not be responsible for any power failure. Lessor, shall furnish 'a reasonable amount of hot and cold running water to lavato- ries and toilets in or appurtenant to the Leased Premises and shall keep all plumbing in repair. It is specifically agreed that Lessor undertakes to furnish only a reasonable amount of electric current and water and that Lessor reserves the right to install meters and to make extra rental charges for any consumption of electric current or water which it deems to be 1 greater than normal, excessive or wasteful. 4. Heating and Air Conditioning. Lessor shall maintain and operate the heating and air conditioning systems for all parts of the building, ex- , cept storage space. The heating and air conditioning systems shall be opera- ted and maintained between :he hours of 3:00 A.N. and 5:00 P M. every lay except Saturday and 3unaas; however. if •a se of cue building .ay Lessee and Mar II