Orange County NC Website
Browse       Search
DocuSign Envelope ID:234B0168-7DD8-4F95-A2D1-25D37F4A4C22 <br /> 8. TAX AND INSURANCE ESCALATION. U CHECK IF APPLICABLE. During the <br /> Term, Tenant shall pay to Landlord,upon demand, as additional rent(if checked): <br /> (_) the amount by which all taxes (including but not limited to, ad valorem taxes, special <br /> assessment and any other governmental charges) on the Premises for each tax year exceed all <br /> taxes on the Premises for the tax year 20_. <br /> (_) all taxes (including but not limited to, ad valorem taxes, special assessments and any <br /> other government charges)on the Premises for each tax year. <br /> In the event the Premises are less than the entire property assessed for such taxes for any such tax <br /> year, then the tax for any such year applicable to the Premises shall be determined by proration on the <br /> basis that the rentable floor area of the Premises bears to the rentable floor area of the entire Building in <br /> which the Premises are located. If the final year of the Term fails to coincide with the tax year, then any <br /> excess for the tax year during which the Term ends shall be reduced by the pro-rata part of such tax year <br /> beyond the Term. If such taxes for the year in which the Lease terminates are not ascertainable before <br /> payment of the last month's rent, then the amount of such taxes assessed against the property for the <br /> previous tax year shall be used as a basis for determining the pro-rata share, if any, to be paid by Tenant <br /> for that portion of the last Lease Year. <br /> During the Term, Tenant shall further pay,upon demand, as additional rent(if checked): <br /> (_) the excess cost of fire and extended coverage insurance including any and all public <br /> liability insurance on the Building over the cost of the first year of the Lease for each subsequent <br /> year during the Term. <br /> U all fire and extended coverage insurance including any and all public liability <br /> insurance on the Building. <br /> In the event the Premises are less than the entire property, then the insurance payable by Tenant <br /> for the Premises shall be determined by proration on the basis that the rentable floor area of the Premises <br /> bears to the rentable floor area of the entire Building in which the Premises are located. <br /> Tenant shall pay all taxes and insurance as provided herein within fifteen (15) days after receipt <br /> of notice from Landlord as to the amount due. Tenant shall be solely responsible for insuring Tenant's <br /> personal and business property and for paying any taxes or governmental assortments levied thereon. <br /> 9. USE OF PREMISES. The Premises shall be used for office purposes only and for no other <br /> purpose. All required federal, state and local business licenses, permits and approvals shall be obtained <br /> by Tenant and shall be maintained by Tenant during the Term. The Premises shall not be used(a)for any <br /> illegal purposes, (b) in any manner so as to create or constitute a nuisance or a trespass, or (c) in any <br /> manner which vitiates the insurance on the Premises or the Building or increases the rate of insurance on <br /> the Premises or the Building. In the event Tenant's use of the Premises results in an increase in the rate of <br /> insurance on the Premises or the Building, Tenant shall pay to Landlord,upon demand, as additional rent, <br /> the amount of any such increase. <br /> 10. RULES AND REGULATIONS. U CHECK IF APPLICABLE. The Rules and <br /> Regulations attached hereto as Exhibit _ are made a part of this Lease and are incorporated herein by <br /> reference. Tenant agrees to perform and abide by any and all such Rules and Regulations and any <br /> 3 <br />