2019-823 AMS - Ticon Inc. 405 Meadowlands lease

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LATE CHARGES 4, If Landlord fails to receive full rental payment within five days after it becomes due, Tenant shall pay Landlord, as additional rental, a late charge equal to five percent 5.00 is/o) of the overdue amount or $410.00 whichever is greater,plus any actual bank fees incurred for dishonored payments. 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. SECURITY DEPOSIT 5. Upon the execution of this Lease, Tenant shall deposit with Landlord the sum of$8,125.00 as a security deposit which shall be held by Landlord as security for the full and faithful performance by Tenant of each and every term,covenant and condition of this Lease. The security deposit does not represent payment of and Tenant shall not presume application of same as payment of the last monthly installment of rental due under this Lease. Landlord shall have no obligation to segregate or otherwise account for the security deposit except as provided in this paragraph 5. If any of the rental or other charges or sums payable by Tenant shall be over-due and unpaid or should payments be made by Landlord on behalf of Tenant,or should Tenant fail to perform any of the terms of this Lease, then Landlord may, at its option,appropriate and apply the security deposit, or so much thereof as may be necessary, to compensate toward the payment of the rents, charges or other sums due from Tenant, or towards any loss,damage or expense sustained by Landlord resulting from such default on the part of the Tenant; and in such event Tenant upon demand shall restore the security deposit to the amount set forth above in this paragraph 5. In the event Tenant furnishes Landlord with proof that all utility bills and other bills of Tenant related to the Premises have been paid through the date of Lease termination,and performs all of Tenant's other obligations under this Lease,the security deposit shall be returned to Tenant within sixty(60)days after the date of the expiration or sooner termination of the term of this Lease and the surrender of the Premises by Tenant in compliance with the provisions of this Lease. ❑ If this box is checked,Agent shall hold the security deposit in trust and shall be entitled to the interest,if any,thereon. UTILITY BILLSISERVICE 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 Landlord Tenant Not Applicable Sewer/Sc tic ❑ ® ❑ Water ❑ ® ❑ Electric ❑ ® ❑ Gas ❑ ® ❑ Telephone ® ❑ HVAC maintenance/service contract) Elevator(including hone line) Security System ❑ ® ❑ Fiber Optic ❑ ® ❑ Janitor/Cleanin ❑ ® ❑ Trash/Dum ster ® ❑ Landscaping/Maintenance ❑ Sprinkler System(including phone line) ❑ ❑ Pest Control ❑ ® ❑ ❑ El ❑ ❑ ❑ ❑ ❑ Cl Page 3 of 12 STANDARD FORM 592-T Revised 712019 Tenant Initials Landlord Initials0= ©712019