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4 <br /> (i) Permitted Use: The Tenant shall use the Demised Premises for general office or artist <br /> studio, art gallery, and arts classroom purposes only. <br /> 0) Rent Commencement Date: The date on which possession of the Demised Premises <br /> is available to Tenant which date shall be the earlier of (i) March 15, 2020 (the "Projected Rent <br /> Commencement Date"), or(ii)the date upon which the Tenant shall first occupy any part of the Demised <br /> Premises for any purpose other than preparing the same for the conduct of business. <br /> (k) Effective Date: F2,�V�,y th 0 D ,the date of this Lease. <br /> (1) Expiration Date: The date which is the last day of the calendar month in which the fifth <br /> (5th) anniversary date of the Rent Commencement Date occurs, provided, however, if the Rent <br /> Commencement Date is on the first day of any calendar month, then the Expiration Date is on the day <br /> immediately before the fifth (5th) anniversary date of the Rental Commencement Date. Assuming the <br /> Rent Commencement Date is March 15,2020,the Expiration Date is March 31, 2025. <br /> (m) Minimum Rent: The Minimum Rent payable during the Term of the Lease, commencing <br /> on the Rent Commencement Date, is the sum of $32,400, payable in equal, monthly installments as <br /> follows: <br /> Annual Minimum Rent Monthly Installment <br /> Lease Year 1 $32,400.00 $2,700.00 <br /> Lease Year 2 $33,210.00 $2,767.50 <br /> Lease Year 3 $34,040.25 $2,836.69 <br /> Lease Year 4 $34,891.26 $2,907.61 <br /> Lease Year 5 $35,763.54 $2,980.29 <br /> I <br /> (n) Rent: Minimum Rent,Additional Rent, and any and all additional sums of money payable <br /> by Tenant to Landlord under the terms of this Lease. <br /> (o) Lease Year: Lease Year 1 is the period commencing on the Rent Commencement Date <br /> and ending on the date immediately preceding the one year anniversary thereof, provided however, if the <br /> Rent Commencement Date occurs on a date other than the first day of a calendar month,then Lease Year <br /> 1 shall be the period beginning on the Rent Commencement Date and ending on the last day of the <br /> calendar month in which the first anniversary of the Rent Commencement Date occurs. Each Lease Year <br /> thereafter shall be a successive twelve calendar month period. <br /> t <br /> (p) Additional Rent: All sums of money whatsoever other than Minimum Rent due and <br /> payable by Tenant to Landlord under this Lease, including without limitation, the Operating Expense <br /> Differential provided for in Exhibit D hereof. <br /> (q) Security Deposit: The sum of$2,700.00 to be held and used in accordance with article 19 <br /> hereof. <br /> (r) Omitted. <br /> (s) Omitted. <br /> (t) Omitted <br /> OCAC Lease Page 2 <br />