2016-09-19_REVISION - M2004061 - Laserfiche WebLink

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l f 4 pf E 2.2 Rent shall b payable on the 1 Oth day of each such month beginning with the first full mont a ter the Commencement Date, and continuing during the term and any extended term of this Agreement. € 2.3 Rent payments shall be made at the office of Landlord or other such place as Landlord may designate,in writing,in the future. e 2.4 Tenant acknowledges that a late payment will cause Lessor to incur costs not { contemplated by this Agreement. In the event rent is not received prior to the 5:00 P.M. on the [ loth day of the month,regardless of cause,Tenant agrees to pay a late charge of 5%of the overdue amount to Landlord,in addition to the amount overdue. 2.4 On or before the 1 Oth day of each month,beginning with the 101 day of the first full month after the Comm�ntDatenant shall pay Landlord during the term of thisAgreementach ton of material, sand,gravel or rock,mined or quarried and removed bremises or used by Tenant to produce concrete or asphalt during the preceding month,hereafter referred to as"Royalty or Royalties." Any and all Royalty payments shall be made in addition to the monthly rent. 2.5 Royalty in connection with aggregate used to make concrete or asphalt shall be determined as to the amount of aggregate used in the concrete or asphalt mix, and not the mix total,itself. 2.6 On the first anniversary of the Commencement Date and every anniversary thereafter during the term of this Agreement and any extension of the lease term,the Royalty payable by Tenant to Landlord per ton of material mined may be adjusted for the next year in direct proportion to the percentage change for the first half of the year in which the anniversary occurs fiom the first half of the preceding year in the Consumer Price Index for All Urban Consumers,All Items for Denver, Colorado as published by the U.S. Bureau of Labor Statistics ("CPI"). By way of example,if the CPI for the first half of 2017 increased by 3%from the CPI for the first half of 2016,the Royalty payable by Tenant would increase 3%for the 2°a year of the term beginning on the anniversary of the Commencement Date in 2017,which adjusted Royalty amount shall be effective until the following anniversary date. 2.7 Tenant shall have the obligation to provide to the Landlord notice of an adjustment in Royalty payments due as a result of the annual adjustment,provided that such notice must be given on or before the anniversary of the Commencement Date to be effective for the next year of the term. i 2.8 Tenant shall provide and deliver to Landlord, or designated agents of Landlord, processed or non-processed material without charge per year,not including asphalt or concrete. Delivery of material shall be at reasonable location or locations,located on Landlord's real property. In the event that Landlord does not taf material in any one year,there will be no credit carryover to the following year for the unus d portion thereof.