Common use of Free Rent Clause in Contracts

Free Rent. Notwithstanding any provision of this Lease to the contrary, but subject to the condition that Tenant is not in default in the performance of any of its obligations under this Lease, Landlord hereby releases Tenant from the obligation to pay its Monthly Installment of Annual Base Rent for the first three (3) months of the Lease following the Commencement Date (“Free Rent Period”); provided, however, that in the event that Tenant defaults in the performance of any of its obligations under the Lease during, or subsequent to the Free Rent Period and fails to cure such default within the applicable cure period, then the amount of Annual Base Rent which Tenant was released from the obligation to pay during the Free Rent Period shall become immediately due and payable to Landlord as Additional Rent hereunder. During the said Free Rent Period, Tenant shall remain obligated to pay Landlord for all Additional Rent and other charges payable pursuant to the Lease, including, but not limited to, Real Estate Taxes and Operating Expenses. Lot I. Block I, ▇▇▇▇▇▇▇ Center 15th Addition, according to the plat thereof on file or of record in the office of the Registrar of Titles, Hennepin County, Minnesota, except that part of said Lot I lying North of the following described line; Commencing at the Southeast corner of said Lot 1; thence North 1 degree 27 minutes 59 seconds East along the East line of said Lot 1 a distance of 342.65 feet; thence North S degrees 30 minutes 16 seconds West along the East line of said Lot 1 a distance of 92.74 feet to the beginning of the line to be described: thence South 81 degrees 09 minutes 35 seconds West a distance of 213.19 feet; thence North 27 degrees 52 minutes 34 seconds West a distance of 71.53 feet to a point on the Northeasterly line of said Lot 1 and said line there terminating. Registered Property Certificate of Title No. 1036245 Together with the benefits of the easements created in Declaration of Easements and Real Covenants, dated February 15, 1995, filed March 16, 1995, as Document No. 2595615, as amended by First Amendment to Declaration, dated April 10, 1997, filed April 30, 1997, as Document No. 2806445, and as amended by Second Amendment to Declaration, dated June 25, 1998, filed August 31, 1998, as Document No. 3057082; and as amended by Amended and Restated Declaration of Easements and Real Covenants, dated January 27, 2000, filed April 26, 2000. as Document No. 3275343, Together with benefits pursuant to Declaration of Covenants and Restrictions, dated November 5, 1987, tiled December 7. 1987, as Document No. 1893029.