Land Rent. Land Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: LAND RENT INITIAL TERM 0000 Xxxxxxx Xxxx Leased Land Total of 75,061 sq. ft. Escalation rate = 2%/year Year Rate Per Sq. Ft. Annual Monthly 1 4/1/2022 - 3/31/2023 $0.4182 $31,390.56 $2,615.88 2 4/1/2023 - 3/31/2024 $0.4266 $32,021.04 $2,668.42 3 4/1/2024 - 3/31/2025 $0.4351 $32,659.08 $2,721.59 4 4/1/2025 - 3/31/2026 $0.4438 $33,312.12 $2,776.01 5 4/1/2026 - 3/31/2027 $0.4527 $33,980.16 $2,831.68 6 4/1/2027 - 3/31/2028 $0.4618 $34,663.20 $2,888.60 7 4/1/2028 - 3/31/2029 $0.4710 $35,353.68 $2,946.14 8 4/1/2029 - 3/31/2030 $0.4804 $36,059.28 $3,004.94 9 4/1/2030 - 3/31/2031 $0.4900 $36,779.88 $3,064.99 10 4/1/2031 - 3/31/2032 $0.4998 $37,515.48 $3,126.29 11 4/1/2032 - 3/31/2033 $0.5098 $38,266.08 $3,188.84 12 4/1/2033 - 3/31/2034 $0.5200 $39,031.68 $3,252.64 13 4/1/2034 - 3/31/2035 $0.5304 $39,812.40 $3,317.70 14 4/1/2035 - 3/31/2036 $0.5410 $40,608.00 $3,384.00 15 4/1/2036 - 3/31/2037 $0.5518 $41,418.60 $3,451.55 16 4/1/2037 - 3/31/2038 $0.5628 $42,244.32 $3,520.36 17 4/1/2038 - 3/31/2039 $0.5741 $43,092.48 $3,591.04 18 4/1/2039 - 3/31/2040 $0.5856 $43,955.76 $3,662.98 19 4/1/2040 - 3/31/2041 $0.5973 $44,833.92 $3,736.16 20 4/1/2041 - 3/31/2042 $0.6092 $45,727.20 $3,810.60 LAND RENT FIRST OPTION TERM 0000 Xxxxxxx Xxxx Leased Land Total of 75,061 sq. ft. Escalation rate = 2%/year Year Rate Per Sq. Ft. Annual Monthly 21 4/1/2042 - 3/31/2043 $0.6214 $46,642.92 $3,886.91 22 4/1/2043 - 3/31/2044 $0.6338 $47,573.64 $3,964.47 23 4/1/2044 - 3/31/2045 $0.6465 $48,526.92 $4,043.91 24 4/1/2045 - 3/31/2046 $0.6594 $49,495.20 $4,124.60 25 4/1/2046 - 3/31/2047 $0.6726 $50,486.04 $4,207.17 LAND RENT SECOND OPTION TERM 0000 Xxxxxxx Xxxx Leased Land Total of 75,061 sq. ft. Escalation rate = 2%/year Year Rate Per Sq. Ft. Annual Monthly 26 4/1/2047 - 3/31/2048 $0.6861 $51,499.32 $4,291.61 27 4/1/2048 - 3/31/2049 $0.6998 $52,527.72 $4,377.31 28 4/1/2049 - 3/31/2050 $0.7138 $53,578.56 $4,464.88 29 4/1/2050 - 3/31/2051 $0.7281 $54,651.96 $4,554.33 30 4/1/2051 - 3/31/2052 $0.7427 $55,747.80 $4,645.65
Land Rent. Rent on surface and subsurface land (excluding Wharf Area), per Compensation Year, in the amount of Four Million, Five Hundred and Forty Nine Thousand, and Forty One Dollars and Fifty Cents ($4,549,041.50), which shall be due in equal quarterly installments;
Land Rent. LESSEE shall pay to LESSOR Land Rent for the Premises described in Section 2 PREMISES. The Land Rent shall be calculated as follows: INITIAL TERM Exhibit A 0000 X. Xxxxx Xxxx 140,000 Sq. Ft. or more, as agreed Effective Dates Rate Per Sq. Ft. Annual Monthly 02/01/2023 - 12/31/2025 $.5262 $73,668.00 $6,139.00 Land Rent terminates on December 31, 2025 to be replaced by payment of the higher of either the Concession Fee or Minimum Annual Guarantee.
Land Rent. Rent may be mailed to 000 Xxxxxxxxx Xxxx, Xxxxxxxxxx,XX 00000 or in rent boxes provided at each park.
Land Rent. Article 5, “Rental” of the original Agreement, and Article 3, “Land Rent” of Supplemental Agreement No. 3, is hereby deleted in entirety, and replaced with the following language: Land rental during the term of this Agreement shall be modified as follows: INITIAL TERM EXTENSION 50,063 Sq. Ft. Years Rate Per Sq. Ft. Annual Monthly 11/01/2011 - 10/31/2016 .1982 $9,922.49 $ 826.87 11/01/2016 - 10/31/2021 .2081 $10,418.11 $ 868.18
Land Rent. Base rent ("Rent") is due and payable without reduction or offset on the first day of each month during the term of this Lease and all renewals thereto in the amounts set forth in Exhibit "B" attached hereto and incorporated herein by reference. In the event Tenant fails to pay any installment of rent or other sum due hereunder when due, to help defray the additional cost to Landlord for processing such late payments, Tenant shall pay to Landlord on demand a late charge in an amount equal to five percent (5%) of such installment; and the failure to pay such late charge within ten (10) days after demand therefor shall be a default hereunder. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies.
Land Rent. Section 3.1
Land Rent. The rent charged to and paid by Sublessor to the PDA, or any successor authority, under the Primary Sublease assessed with respect to the Premises for any Operating Year.
Land Rent. Beginning on the Effective Date and continuing throughout the Initial Term and any Renewal Terms, Seaboard agrees to pay one dollar ($1.00) per square foot annually on all land in the Terminal Area paid in monthly installments subject to an annual increase of not more than three percent (3%), starting on October 1, 2009. If for any reason the County does not increase the Land Rental Rate in any given Fiscal Year(s), the County may thereafter add the amount of such allowed (but not imposed) annual increase in later years but only in the then current term. For example, if the County elects not to impose a Land Rental Rate increase in Fiscal Years two or three, in Fiscal Year four the County could impose a Land Rental Rate increase of approximately
