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3 <br /> <br />2.1.3. Base Rent: The Base Rent shall include water usage, common area electric, <br />common area cleaning and common area maintenance. <br /> <br />2.2. LEASE YEAR The term "lease year" as used herein shall mean the period <br />beginning with the commencement of the term of this lease as herein above <br />determined (or if the term commences on a day other than the first day of the month, <br />then the first day of the month next succeeding) to the last day of the twelfth month <br />thereafter, and each successive twelve month period thereafter during the term of this <br />lease. <br /> <br />2.3. FULL TIME OPERATION OF BUSINESS At all times during the term of this <br />lease the Tenant shall keep the entire demised premises open for business during <br />regular business hours and conduct its business in a high class and reputable manner <br />with an adequate staff, subject to strikes and other causes beyond the Tenant's control. <br /> <br />2.4. ADDITIONAL RENT In addition to the foregoing, all other payments to be <br />made by Tenant to Landlord shall be deemed to be and shall become additional rent <br />hereunder whether or not the same be designated as such, and shall be due and <br />payable on demand or together with the next succeeding installment of rent, <br />whichever shall first occur, together with interest thereon. Landlord shall have the <br />same remedies for failure to pay the same as for a non-payment of rent. Landlord, at <br />its elections, shall have the right to pay or do any act which requires the expenditure of <br />any sums of money by reason of the failure or neglect of Tenant to perform any of the <br />provisions of this lease, and in such event, Tenant agrees to pay Landlord, upon <br />demand, all such sums together with interest thereon at the rate of 8% per annum as <br />additional rent. <br /> <br />2.5. AD VALOREM TAXES Not applicable <br /> <br />2.6. INITIAL IMPROVEMENTS Tenant accepts the Premises in its current, as-is <br />condition. <br /> <br />3. SECURITY DEPOSIT <br />3.1. TERMS OF DEPOSIT Not Applicable <br /> <br />3.2. TRANSFER OF DEPOSIT In the event of a sale of the building or a lease on <br />the land which it stands, subject to this lease, the Landlord shall have the right to <br />transfer the security to the vendee or lessee and the Landlord shall be considered <br />released by the Tenant from all liability for the return of such security and the Tenant <br />shall look to the new Landlord or lessee solely for the return of the said security and it <br />is agreed that this shall apply to every transfer or assignment made of the security to a <br />new Landlord. The security deposited under this lease shall not be mortgaged, <br />assigned or encumbered by the Tenant without the written consent of the Landlord <br />and may be co-mingled with other funds of Landlord. <br />Docusign Envelope ID: 1D68F173-6B6F-4424-9E87-2885D9C25A5C