COMPLIANCE INFO_2002-2007 - Laserfiche WebLink

Home Browse Search

Section 3.03 Fixed Rent: The "Fixed Rent" for the Demised Premises shall be as follows: 1. A Lease Execution Fee of $30,000 to a qualified operator. 2. Years 1 & 2 lease rate of $7,000.00 per month. 3. Years 3 — 5 lease rate of $8,000.00 per month. 4. Tenant shall Brand the Station including all of the Freeway signage (60 foot pole sign) etc. Tenant shall pay to Landlord Fixed Rent in advance, without demand therefor, on the first day of each calendar month commencing with the Commencement Date. Section 3.04 Gross Receipts. There shall be no percentage rent payable under this Lease. Notwithstanding the foregoing, Tenant shall be required to deliver to Landlord quarterly sales reports for Gross Receipts generated from the Demised Premises within thirty (30) days after the end of each calendar quarter. Not later than sixty (60) days after the end of each calendar year during the Lease Term, Tenant shall deliver to Landlord a written statement prepared by Tenant in accordance with generally accepted accounting practices, consistently applied, signed and certified by Tenant or an officer of Tenant to be true and correct, setting forth the total amount of the Gross Receipts generated from the Demised Premises for each month of the preceding calendar year. The term "Gross Receipts", as used in this Lease, shall mean the total of the gross selling price, whether received in cash, check, by electronic funds transfers, credit card or other methods of payment or credit, of all merchandise or services sold by Tenant, its subtenants, concessionaires and any other person or entity in or from the Demised Premises. Section 3.05 Additional Rent. (a) Tenant shall pay to Landlord, as Additional Rent, all "Real Estate Taxes" (as hereinafter defined) assessed against, or allocable or attributable to, the Demised Premises and accruing on or after the Close of Escrow and prior to the expiration the Lease Term. Real Estate Taxes for the first year of the Lease Term and the last year of the Lease Term shall be prorated. As used herein, the term "Real Estate Taxes" means all taxes and general and special assessments and other impositions in lieu thereof, as a supplement thereto and any other tax which is measured by the value of real property and assessed on a uniform basis against the owners of real property, including any substitution in whole or in part therefor due to a future change in the method of taxation. Nothing contained in this Lease, however, shall require the Tenant to pay any estate, inheritance, corporate, franchise or income tax of Landlord, nor shall any of same be deemed Real Estate Taxes, unless same shall be specifically imposed in substitution for, or in lieu of, Real Estate Taxes, and then only to the extent same are limited to the Demised Premises as if it were the only property owned by Landlord. If by law, any general or special assessment or like charge may be paid in installments without any penalty or interest whatsoever, then such assessment shall be paid in such installments and Tenant shall only be liable for the portion thereof that is allocable or attributable to the Lease Term or any portion thereof. (b) Tenant shall pay Tenant's share of Real Estate Taxes to Landlord within twenty (20) days after Tenant's receipt of Landlord's statement therefor, accompanied by the tax bill for which such statement is rendered. Landlord may have the tax bill for the Demised Premises sent directly to Tenant, in which case Tenant shall pay the tax bill directly to the collecting authority prior to the delinquency date thereof and in such event Tenant shall provide M