Common use of Lease Consideration Clause in Contracts

Lease Consideration. The consideration for this lease is the mutual covenants of the parties. As partial consideration for this lease and annually upon request by the Owner, the Tenant agrees to furnish Owner a signed current financial statement reflecting Tenant's financial condition. As consideration for the preparation of this lease, the Tenant has delivered to the Owner the sum of $12,000.00 upon execution of this lease, and Tenant agrees to deliver to the Owner an additional $12,000.00 prior to Tenant's occupancy of the premises. Said sums to be applied to the first and subsequent rental due hereunder after this lease is executed by both parties.