Common use of Annual Base Rent Clause in Contracts

Annual Base Rent. A. Beginning with the Commencement Date and continuing throughout the term of this Lease, Lessee shall pay to Lessor in lawful United States currency, the fixed annual rent described in Paragraph 4 of the Summary (the “Fixed Annual Rent”), payable in the equal monthly installments described in Paragraph 4 of the Summary (the “Base Monthly Rent”), together with any and all sales and use taxes levied upon the use and occupancy of the premises as set forth in Article 4 hereof. Payment shall be in advance on the first day of each month. Lessee’s rent in the first month of the term and the last month of terra shall be pro-rated based on the number of days the Lessee is obligated and bound by this Lease. All rent shall be paid to Lessor without demand, setoff or deduction whatsoever, c/o Simone Structures, J.V., ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, #▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as lessor shall designate in writing to Lessee. B. In the event that any payment herein provided for by Lessee to Lessor shall become overdue for a period in excess often (10) days, then, at Lessor’s option, a “late charge” of one and one-half percent (1.5%) of such payment as additional rent may be charged. C. The base rent shall be increased to compensate for changes in the cost of living as computed by reference to the Consumer Price Index for all Urban Consumers, U.S. City Average, all items (1982-84 = 100) published by Bureau of Labor Statistics of the U.S. Department of Labor with a minimum of three (3%) percent and a maximum of five (5%) percent. Adjustments to the base rent shall be computed annually commencing on the first (1st) anniversary of the commencement date and on each annual anniversary of the commencement date. The amount of adjustment shall be arrived for succeeding years of the lease term by dividing the most recent CPI by the preceding year’s CPI and multiplying the monthly rent by the result. Because actual CPI figures are not published until sometime after the month for which they are collected and therefore not available at the time an increase should become effected, a CPI figure from two months prior to the increase month shall be used; however, under no circumstances shall the Tenant pay an annual rent of less than the amount of Base Rent paid in the year before. In the event this price index is discontinued or changed in any way, at the election of the Lessor the parties herein shall accept comparable statistics on the Cost of Living as computed and published by an agency of the United States Government or by a responsible financial periodical of recognized authority to be selected by the Lessor.

Annual Base Rent. A. Beginning with For the Commencement Date year January 1, 2008, through December 31, 2008 $ 313,644.00 For the year January 1, 2009, through December 31, 2009 $ 316,788.00 Total Base Rent for Additional Term $ 630,432.00 The Base Rent due under the Lease, as amended hereby, shall be payable in monthly installments, in advance, without deduction or setoff, commencing on January 1, 2008, and continuing throughout thereafter on the term 1st day of this Lease, Lessee shall pay to Lessor in lawful United States currency, each and every month during the fixed annual rent described in Paragraph 4 Additional Term. The monthly installment payable during each year respectively of the Summary (Additional Term shall be determined by dividing the “Fixed Annual Rent”), payable annual Base Rent for the year in the equal monthly installments described in Paragraph 4 of the Summary (the “Base Monthly Rent”), together with any and all sales and use taxes levied upon the use and occupancy of the premises question as set forth in Article 4 hereofabove by twelve (12). Payment shall be in advance on Anything set forth herein to the first day contrary notwithstanding, this Amendment is for the entire Additional Term and the entire amount of each month. Lessee’s rent in Base Rent for the first month entire Additional Term is due and payable hereunder (subject, however, to any earlier termination prior to the end of the term Term pursuant to paragraph 4 of this Amendment), with the payment of Base Rent in monthly installments being solely an accommodation to the Tenant. Upon the occurrence of an Event of Default under the Lease, the entire unpaid balance of Base Rent for the entire Additional Term, and all other Rent reserved under the last month of terra Lease, as hereby amended, shall be pro-rated based on the number of days the Lessee is obligated become immediately due and bound by this Lease. All rent shall be paid to Lessor payable, without notice or demand, setoff or deduction whatsoever, c/o Simone Structures, J.V., ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, #▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as lessor shall designate in writing to Lessee. B. Landlord’s option. In the event that Landlord collects the entire Rent payable under the Lease for the balance of the Additional Term from the Tenant after the occurrence of an Event of Default under the Lease, Landlord shall after receipt of written demand from Tenant delivered to Landlord not later than thirty (30) days after the end of the Additional Term (as if the lease was not earlier terminated), time being of the essence, promptly account to Tenant for any payment herein provided for Rent collected by Lessee Landlord by reletting the Premises to Lessor shall become overdue for a other tenants during the period in excess often (10) days, then, at Lessorfrom Tenant’s option, a “late charge” surrender of one and one-half percent (1.5%) of such payment as additional rent may be charged. C. The base rent shall be increased to compensate for changes in or eviction from the cost of living as computed by reference Premises to the Consumer Price Index for all Urban Consumers, U.S. City Average, all items (1982-84 = 100) published by Bureau of Labor Statistics end of the U.S. Department of Labor Additional Term (as if the lease was not earlier terminated), with a minimum of three (3%) percent Landlord to remit to Tenant such Rent collected in connection with reletting the Premises, less all expenses associated with such reletting, including any repairs and a maximum of five (5%) percent. Adjustments replacements to the base rent shall be computed annually commencing on the first (1st) anniversary of the commencement date and on each annual anniversary of the commencement date. The amount of adjustment shall be arrived for succeeding years of the lease term by dividing the most recent CPI by the preceding year’s CPI and multiplying the monthly rent by the result. Because actual CPI figures are not published until sometime after the month for which they are collected and therefore not available at the time an increase should become effectedPremises in connection therewith, a CPI figure from two months prior except to the increase month extent that the Rent realized by Landlord from such reletting exceeds Rent due under the Lease, as hereby amended, in which case the Landlord shall be used; however, under no circumstances shall the Tenant pay an annual rent of less than the amount of Base Rent paid in the year before. In the event this price index is discontinued or changed in any way, at the election of the Lessor the parties herein shall accept comparable statistics on the Cost of Living as computed and published by an agency of the United States Government or by a responsible financial periodical of recognized authority to be selected by the Lessorretain such excess.

Annual Base Rent. A. Beginning with (i) Commencing on September 1, 1990, Tenant agrees to pay Landlord as base rent ("Annual Base Rent") the Commencement Date sum of Eighty One Thousand Dollars ($81,000.00) per annum, plus applicable Florida sales tax, payable without demand or setoff in lawful money of the United States, in equal monthly installments of Six Thousand Seven Hundred Fifty Dollars ($6,750.00) each, plus applicable Florida sales tax in the amount of $405 each month, in advance, on the first day of each month during the term of this Lease. (ii) Effective on September 1, 1991, and continuing throughout on the same day of each year thereafter during the term of this Lease, Lessee shall pay to Lessor in lawful United States currency, the fixed annual rent described in Paragraph 4 of the Summary (the “Fixed Annual Rent”), payable in the equal monthly installments described in Paragraph 4 of the Summary (the “Base Monthly Rent”), together with any and all sales and use taxes levied upon the use and occupancy of the premises as set forth in Article 4 hereof. Payment Rent shall be adjusted to reflect any increase in advance on the first day of each month. Lessee’s rent in the first month of the term and the last month of terra shall be pro-rated based on the number of days the Lessee is obligated and bound by this Lease. All rent shall be paid to Lessor without demand, setoff or deduction whatsoever, c/o Simone Structures, J.V., ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, #▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as lessor shall designate in writing to Lessee. B. In the event that any payment herein provided for by Lessee to Lessor shall become overdue for a period in excess often (10) days, then, at Lessor’s option, a “late charge” of one and one-half percent (1.5%) of such payment as additional rent may be charged. C. The base rent shall be increased to compensate for changes in the cost of living as computed by reference to the Consumer Price Index for all All Urban Consumers, U.S. City Average, all items -All Items (1982-84 = 10084=100) (All Areas), as published from time to time by the Bureau of Labor Statistics of the U.S. United States Department of Labor with a minimum of three (3%) "CPI"); provided, however, that the Annual Base Rent as adjusted shall not be more than five percent and a maximum of five (5%) percent(the "Maximum Adjustment Factor") of the Annual Base Rent immediately preceding any particular adjustment date. Adjustments If the CPI is discontinued or not available, Landlord shall designate a comparable index published by a governmental agency or responsible periodical. The CPI values which shall be compared in determining the increase in the CPI for any adjustment date shall be that index most recently published as of 30 days prior to the base rent shall be computed annually commencing on adjustment date, and the first (1st) anniversary of index for the commencement date and on each annual anniversary of the commencement date. The amount of adjustment shall be arrived for succeeding years of the lease term by dividing the most recent CPI by corresponding month in the preceding year’s . As an example, if the effective date for CPI and multiplying increases were January 1 of each year, the monthly rent formula to compute the Annual Base Rent effective January 1, 1995 would be as follows: ANNUAL BASE RENT for 1995 equals the amount described in I, unless II or III applies: I. Annual Base Rent for 1994 times the CPI most recently published as of December 1, 1994 (probably the CPI for October, 1994), divided by the resultCPI for the same month (in this case, October) in 1993. II. Because actual CPI figures are not published until sometime after Annual Base Rent for 1994 times the month for which they are collected and therefore not available at Maximum Adjustment Factor, if the time an increase should become effected, a CPI figure from two months prior to the increase month shall be used; however, under no circumstances shall the Tenant pay an annual rent of amount so computed is less than the amount of computed under I. III. Annual Base Rent paid for 1994, if use Of I. would result in a decrease (i.e., if in this example the year before. In CPI for October 1994 is less than the event this price index is discontinued or changed in any way, at the election of the Lessor the parties herein shall accept comparable statistics on the Cost of Living as computed and published by an agency of the United States Government or by a responsible financial periodical of recognized authority to be selected by the LessorCPI for October 1993).

Annual Base Rent. A. Beginning with Section 5.1 Effective as of the Commencement Date Effective Date, the first sentence of Section 5.1 of the Lease shall be deemed modified and continuing throughout restated in its entirety as follows: "During the term Initial Term Tenant agrees to pay to Landlord annual base rent for the Premises (the "ANNUAL BASE RENT") at the rate of Three Million Eight Hundred Thousand and 00/100 Dollars ($3,800,000.00) per annum (the "INITIAL ANNUAL BASE RENT AMOUNT"). Notwithstanding the foregoing, provided that Tenant is not then in default under this Lease beyond any applicable period set forth in this Lease within which the default may be cured, Tenant shall be entitled to an aggregate credit of $1,000,000 to be applied in twelve (12) equal monthly installments of $83,333.33 against the monthly installments of Annual Base Rent due hereunder for the second through thirteenth calendar months of the Initial Term (the "FREE RENT PERIOD"); it being further agreed, however, that if Tenant is in default under this Lease beyond any applicable cure period, then (a) any credit not given Tenant during the period of such default shall only be suspended and shall be given to Tenant, and carried forward if not capable of immediately being used in its entirety until capable of being so used in its entirety, upon any subsequent cure by Tenant of such default and any other then existing default(s) by Tenant under this Lease, Lessee and (b) Tenant shall further be entitled to all monthly installments of such credit otherwise to be applied, pursuant to the terms hereof, after such subsequent cure(s). Notwithstanding anything to the contrary in this Lease, if there shall be Net Distributable Cash for the Free Rent Period, but calculated for this purpose only without reference to any additional rent payable pursuant to this sentence, then Tenant shall pay to Lessor in lawful United States currencyan amount (such amount, the fixed annual rent described in Paragraph 4 of the Summary (the “Fixed Annual Rent”), payable in the "FREE RENT MAKE-UP") equal monthly installments described in Paragraph 4 of the Summary (the “Base Monthly Rent”), together with any and all sales and use taxes levied upon the use and occupancy of the premises as set forth in Article 4 hereof. Payment shall be in advance on the first day of each month. Lessee’s rent in the first month of the term and the last month of terra shall be pro-rated based on the number of days the Lessee is obligated and bound by this Lease. All rent shall be paid to Lessor without demand, setoff or deduction whatsoever, c/o Simone Structures, J.V., ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, #▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as lessor shall designate in writing to Lessee. B. In the event that any payment herein provided for by Lessee to Lessor shall become overdue for a period in excess often (10) days, then, at Lessor’s option, a “late charge” of one and one-half percent (1.5%) of such payment as additional rent may be charged. C. The base rent shall be increased to compensate for changes in the cost of living as computed by reference to the Consumer Price Index for all Urban Consumers, U.S. City Average, all items lesser of (1982-84 = 1001) published by Bureau of Labor Statistics of the U.S. Department of Labor with a minimum of three (3%) percent and a maximum of five (5%) percent. Adjustments to the base rent shall be computed annually commencing on the first (1st) anniversary of the commencement date and on each annual anniversary of the commencement date. The amount of adjustment shall be arrived for succeeding years of the lease term by dividing the most recent CPI by the preceding year’s CPI and multiplying the monthly rent by the result. Because actual CPI figures are not published until sometime after the month for which they are collected and therefore not available at the time an increase should become effected, a CPI figure from two months prior to the increase month shall be used; however, under no circumstances shall the Tenant pay an annual rent of less than the amount of the $1,000,000 credit set forth above actually applied against Annual Base Rent paid in as provided above, whether such application against Annual Base Rent was made during the year before. In Free Rent Period or subsequent thereto (i.e., if any portion of such credit is so applied after the event this price index is discontinued Free Rent Period pursuant to either or changed in any way, at the election both of the Lessor the parties herein shall accept comparable statistics on the Cost of Living as computed preceding clauses (a) and published by an agency of the United States Government (b)) or by a responsible financial periodical of recognized authority to be selected by the Lessor.(2)