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04-11-1990 Additions
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04-11-1990 Additions
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c. In any year in which the gas, electric, and water <br />utilities exceed the 1987 base of $17,500.00, Lessee shall pay its <br />prorata share thereof, said amount shall be due upon submission to <br />Lessee of a statement therefor. <br />d. On July 1 of each year of this Lease and any renewal <br />term thereof, the rent attributable to the maintenance, manage -, <br />ment, and reserves of the leased premises, set forth in paragraph <br />7 hereof, shall increase in a percentage amount equal to the <br />percentage increase in the Consumer Price Index for urban areas <br />during the preceding twelve (12) months. <br />9. AUDIT. Lessee shall have the right to audit <br />Lessor's books as the same relate to real estate taxes and <br />assessments, insurance premiums, utilities, and maintenance, <br />management and reserves. <br />10. DEFINITIONS. <br />a. For purposes of this Lease, the following defini- <br />tions apply: a <br />i. "Tax" means real estate taxes and special <br />assessments assessed against the leased premises <br />which become due and payable during the lease term. <br />ii. "Insurance" means the 'premiums for insurance <br />on the leased premises for fire, windstorm, extended <br />coverage, loss of rents, and public liability. <br />iii. "Maintenance" means the cost of maintaining <br />the sidewalks, alleys and passageways, snow removal, <br />cleaning, repairing, striping, patching of the <br />parking areas, supplies, administration costs of <br />operating and maintaining heating, ventilation, and <br />air conditioning systems, and the common areas, <br />including cost of maintenance personnel, but <br />excluding any charges attributable to the original <br />cost of renovation or construction of the common <br />areas. <br />b. Lessee's prorata share should be one - seventh (1 /7th) <br />of a fraction, the numerator of which shall be the ground floor <br />area of the leased premises and the denominator of which shall be <br />the entire ground floor area of the building of which the leased <br />premises are a part. <br />c. Specifically excluded from maintenance, management <br />and reserves are aI.1 expenses of the individual bingo operations <br />such as telephone service, administrative costs, advertising, and <br />security. <br />-3- <br />Page 8 <br />
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