IMPERIAL REALTY PARTNERSHIP
RIDER TO COMMERCIAL LEASE AGREEMENT
20th:)
TAX INCREASE: If in any calander year during the term and of any renewal or extension of the term hereof, the annual municipal taxes assessed against the land and improvements leased hereunder or of which the premises herein leased are a part, shall be greater than the municipal taxes assessed against the said lands and improvements for the calandar year 2013, which is hereby designated as the base year, then in addition to the rent herein fixed, the tenant agrees to pay a sum equal to 50% of the amount by which said tax exceeds the annual tax for the base year, inclusive of any increase during any such calandar year. The said sum shall be considered as additional rent an shall be paid in as many equal installments as there are months remainig in the calandar year in which said taxes exceed the taxes for the base year, on the first day of each month in advance, during the remaing months of that year. If the term hereof shall commence after the first day of January or shall terminate prior to the last day of December in any year, then such additional rent resulting from a tax increase shall br proportionally ajusted for the fraction of the calendar year involved.
21st:)
Tenant may make use of the signage currently existing on the premises and used by prior tenant. Tenant shall be responsible for obtaining any municipal approvals in connection with such signage. If tenant must make an application to the municipality for approval of signage, such application shall be made at the sole cost and expense of the tenant. The Landlord hereby agrees to consent, in writing, to the filing of the appropriate application.
22nd:)
Any governmental approvals required of tenant relating to the conduct of its business or use and/or occupancy of the demised premises shall be at tenant's sole cost and expencse
23rd:)
The tenant agrees to permit the Landlord and the Landlord's agents, employees or other, after 180 days next preceding the expiration of the term herein, to place notices on the front of said premises or any part thereof, offering the premises for rent or for sale, and the tenant hereby agrees to permit the same to remain thereon without hindrance or molestation.
24th:)
Provided tenant is not in material breach of any of the terms of this lease, it shall have an option to renew this lease for an additional term of three (3) years after the expiration of its original term on terms that are mutually agreeable to both tenant and landlord. Tenant shall give Landlord written notice of its intention to renew at least 90 days prior to the expiration of the lease. In the event that tenant shall fail to give Landlord written notice of the election to exercise this option for renewal of this lease as aforesaid, such option shall thereafter become null and void and of no further force and effect.
3
|
|