Agenda Packets - 1998/12/28 - Laserfiche WebLink

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2.2 RENT DELINQUENCIES. Should the Tenant, for any reason whatsoever, fail to pay, when the same is due and payable, any"Base Rent" and should said rent to be paid withing ten (10) days of the due date, Tenant shall pay a late penalty equal to five percent(5%) of total rents due. In addition, thirty (30) days after the due date, all unpaid rents shall commence to bear interest from said date to the date of payment at the rate of two percent(2%)per annum in excess of the prime rate as quoted by First Bank Minneapolis,N.A. to its best customers, or the highest rate permitted by law, whichever is less. Nothing contained herein shall constitute a grace period permitting the late payment of rent of an obligation of Landlord to forbear it other remedies hereunder. 2.3 UTILITIES A monthly payment of$600 due on or before the first day of each month: shalt also be required for payment of electricity and gas utility fees. Should there be a drastic adjustment in gas prices due to inflation, act of God,emergency,the City and Tenant:may renegotiate aut lity fee,acceptable to both parties. 2.4 ACCOUNTING. Tenant will provide monthly accounting Information detailing their financial situation to date. ARTICLE III- USE OF PREMISES 3.1 TENANT'S USE. During the term of this Lease, the Demised Premises shall be used solely for the purpose of child care and general office purposes. Tenant shall have the right to remain open for business in the Demised Premises during hours even if no other tenants are open during those hours. Tenant shall have the right to secure its exclusive access to the Demised Premises and to provide access by its customers to the Demised Premises even if other tenants are not open for business during those hours. Landlord shall meet and confer with Tenant regarding other uses of the Building which might be inconsistent with Tenant's use of the Demised Premises. Subject to compliance with the City's zoning code and subject to approval of Landlord as to the size, style, and location, Tenant may, at its sole expense install signage for the Demised Premises on and around the Building. 3.2 COMPLIANCE WITH LAWS AND REGULATIONS (a) Tenant covenants and agrees that at all times during the term hereof it will maintain and conduct its business insofar as the same relates to the occupancy of the Demised Premises in such a manner and under such regulations that are in strict compliance with any and an applicable government and/or quasi-governmental laws,rules regulations and orders, as well as any and applicable provisions of insurance underwriters at the Demised Premises and the Declaration. Tenant shall indemnify Landlord, Landlord's insurer, and the property of Landlord against any and all claims or losses or actions or causes of action resulting from Tenant's failure to comply with said laws, rules,regulations and orders and underwriting provisions. (b) Tenant hereby agrees to maintain the premises and operate its business so as to Page 2 DRAFT-- 12/15/98--CHS Lease agreement