Laserfiche WebLink
~~s1'19-99 TUE 436 PM `h`;ATT AND MARTELL LLC FAX N0. 9i0 484 1170 P, 4 <br />~...- <br />for three (3) additional-periods of five (5) years eaoh, on tha <br />same terms and conditions as contained in this Leas¢ Agreement. <br />It the Tenant elects to exercise its option to extend th¢ term <br />o! this Lease, the Tenant shall do so by giving the Landlord <br />written notice of such extension at least sixty (60) days prior to <br />the expiration of the initial term o4 this Leases Ot prior to the <br />expiration o! any extension thereof. If the Tenant gives such <br />notiae, the term of this Lease shall be automatically extended !or <br />the additional option period without the necessity of executing any <br />extension or renewal agreement. <br />4, security benoait. An amount equal to sixteen Thousand <br />Two xundred Dollars ($16,200) shall be deposited with the Landlord <br />on or before the commencement of the term o! this Lease as security <br />for the full and faithful pertorntance of each term, provision, <br />covenant, and condition of this Lease. Should the Tenant faithful- <br />ly and fully comply with all of the terms and provisions of this <br />Lease Agreement, the security deposit or any balance thereof shall <br />be returned to the Tenant or to the last assignee of the Tenant's <br />interest in the Leased Premises within thirty (30) days liter the <br />expiration of the term of this Lease Agreement. The Tenant shall <br />not be entitled to any interest on the security deposit, and the <br />Landlord shall have the right to commingle the security deposit <br />with other Panda o:G the Landlord. The Landlord may deliver the <br />security deposit to any purchaser of the Landlord's intare6t in the <br />Leased premises, and upon giving notice to the Tenant of such <br />transfer, the Landlord shall ba discharged fro]a further liability <br />with respect to the sacuzity deposit. In the event of default by <br />the Tenant in the payment o! rent and in the event the Tenant fails <br />to cure such default Within fifteen (15) days after written notice <br />of default is given to the Tenant, then the Tenant shall be deemed <br />to have forfeited the security deposit, which shall be retained by <br />the Landlord as liquidated damages. The parties agree that in the <br />event of default in the payment of rent by the Tenant, the <br />Landlord's damages may be difficult to measure and that forfeiture <br />of the security deposit is a Yair and reasonable estimate of the <br />damages which the Landlord may surfer as a result of the Tenant's <br />default. <br />5. Taxes. The Landlord shall pay, before delinquent, all <br />general real property taxes and special assessments that may be <br />levied or assessed by a»y lawful authority against the real <br />Property. The Tenant shall pay, before delinquent, a21 taxes,. <br />assessments, license.fees, and public charges levied, assessed, or <br />imposed upon the Tower, Building, and any personal property in, on, <br />or upon the Leased Premises owned by the Tenant. <br />3 <br />