Common use of Common Area Maintenance Charges Clause in Contracts

Common Area Maintenance Charges. The Fixed Minimum Rent payable hereunder includes Tenant’s Proportionate Share (as hereinafter defined) of all costs and expenses associated with Common Area Maintenance Charges (“C.A.M.”) incurred by Landlord during the calendar year 2004 (“Base Year”) in connection with the ownership, management, maintenance, repair and operation of Landlord’s Property, including, without limitation, a heating, ventilating and air-conditioning annual service agreement; maintaining, repairing, replacing, striping and sweeping parking lots, driveways and private roads, loading areas and easement areas; all electricity, sewer, water and other utility costs in connection with the Common Areas not separately metered to tenants; sewer and water usage for the Premises; landscape maintenance and replacement, snow removal; dumpster service; costs and expenses incurred by Landlord in protesting Taxes (as hereinafter defined), and all other items reasonably necessary for the operation or preservation of Landlord’s Property in a first-class condition, including any replacement or structural reserves; the cost of providing the fire monitoring for the Premises as provided by Silent Security Signal, a Division of Cleveland Security Patrol; and an administration fee equal to seven and one-half percent (7.5%) of the foregoing costs. In the event that the Landlord’s costs and expenses associated with C.A.M. exceeds the amount payable during the Base Year, then in such event, Tenant shall pay to Landlord in equal monthly installments, in advance with payments of Fixed Minimum Rent, an amount equal to one-twelfth (1/12th) of the estimated amount of Tenant’s Proportionate Share of C.A.M.

Appears in 1 contract

Samples: Lease (U-Store-It Trust)

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Common Area Maintenance Charges. The (a) Landlord requires Tenant to pay in equal monthly installments, in advance and together with payments of Fixed Minimum Rent payable hereunder includes as provided in Section 2.1 of this Lease the sum of Three hundred and 00/100ths Dollars ($300.00) for Tenant’s Proportionate Share (as hereinafter defined) of all costs and expenses associated with Common Area Maintenance Charges (“C.A.M.”) incurred by Landlord during the calendar year 2004 (“Base Year”) term of this Lease in connection with the ownership, management, maintenance, repair and operation of Landlord’s Property, including, without limitation, a heating, ventilating and air-conditioning annual service agreement; maintaining, repairing, replacing, striping and sweeping parking lots, driveways and private roads, loading areas and easement areas; all electricity, sewer, water and other utility costs in connection with the Common Areas not separately metered to tenants; sewer and water usage for the Premises; landscape maintenance and replacement, snow removal; dumpster service; costs and expenses incurred by Landlord in protesting Taxes (as hereinafter defined), and all other items reasonably necessary for the operation or preservation of Landlord’s Property in a first-class condition, including any replacement or structural reserves; the cost of providing the fire monitoring for the Premises as provided by Silent Security Signal, a Division of Cleveland Security Patrol; and an administration fee equal to seven and one-half percent (7.5%) of the foregoing costs. In no event shall Tenant’s Proportionate Share of C.A.M. be increased in any Lease Year (as hereinafter defined) more than five percent (5%) over Tenant’s Proportionate Share of C.A.M. during the event that immediately preceding Lease Year. Commencing upon the Landlordsecond Lease Year, Tenant’s Proportionate Share of C.A.M. shall be subject to increase if the total of all costs and expenses associated with C.A.M. exceeds the amount incurred by Landlord increase over that payable during the Base initial Lease Year, then in such event. If Landlord’s costs for C.A.M. increase over that payable during the initial Lease Year, Tenant shall pay to Landlord Landlord, in equal monthly installments, in advance and together with payments of Fixed Minimum Rent, an amount equal to one-twelfth (1/12th) of the estimated amount of Tenant’s Proportionate Share of C.A.M.

Appears in 1 contract

Samples: Lease (U-Store-It Trust)

Common Area Maintenance Charges. The Fixed Minimum Rent payable hereunder includes Tenant’s 's Proportionate Share (as hereinafter defined) of all costs and expenses associated with Common Area Maintenance Charges ("C.A.M.") incurred by Landlord during the calendar year 2004 ("Base Year") in connection with the ownership, management, maintenance, repair and operation of Landlord’s 's Property, including, without limitation, a heating, ventilating and air-conditioning annual service agreement; maintaining, repairing, replacing, striping and sweeping parking lots, driveways and private roads, loading areas and easement areas; all electricity, sewer, water and other utility costs in connection with the Common Areas not separately metered to tenants; sewer and water usage for the Premises; landscape maintenance and replacement, snow removal; dumpster service; costs and expenses incurred by Landlord in protesting Taxes (as hereinafter defined), and all other items reasonably necessary for the operation or preservation of Landlord’s 's Property in a first-class condition, including any replacement or structural reserves; the cost of providing the fire monitoring for the Premises as provided by Silent Security Signal, a Division of Cleveland Security Patrol; and an administration fee equal to seven and one-half percent (7.5%) of the foregoing costs. In the event that the Landlord’s 's costs and expenses associated with C.A.M. exceeds the amount payable during the Base Year, then then, subject to the limitation hereinafter set forth, in such event, Tenant shall pay to Landlord in equal monthly installments, in advance with payments of Fixed Minimum Rent, an amount equal to one-twelfth (1/12th) of the estimated amount of Tenant’s 's Proportionate Share of C.A.M.C.A.M. Notwithstanding the foregoing, if Landlord's costs and expenses associated with C.A.M. exceed the amount payable during the Base Year, in no event shall Tenant's

Appears in 1 contract

Samples: U-Store-It Trust

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Common Area Maintenance Charges. The Fixed Minimum Rent payable hereunder includes Tenant’s Proportionate Share (as hereinafter defined) of all costs and expenses associated with Common Area Maintenance Charges (“C.A.M.”) incurred by Landlord during the calendar year 2004 2005 (“Base Year”) in connection with the ownership, management, maintenance, repair and operation of Landlord’s Property, including, without limitation, a heating, ventilating and air-conditioning annual service agreement; maintaining, repairing, replacing, striping and sweeping parking lots, driveways and private roads, loading areas and easement areas; all electricity, sewer, water and other utility costs in connection with the Common Areas not separately metered to tenants; sewer and water usage for the Premises; landscape maintenance and replacement, snow removal; dumpster service; costs and expenses incurred by Landlord in protesting Taxes (as hereinafter defined), and all other items reasonably necessary for the operation or preservation of Landlord’s Property in a first-class condition, including any replacement or structural reserves; the cost of providing the fire monitoring for the Premises as provided by Silent Security Signal, a Division of Cleveland Security Patrol; and an administration fee equal to seven and one-half percent (7.5%) of the foregoing costs. In the event that the Landlord’s costs and expenses associated with C.A.M. exceeds the amount payable during the Base Year, then in such event, Tenant shall pay to Landlord in equal monthly installments, in advance with payments of Fixed Minimum Rent, an amount equal to one-twelfth (1/12th) of the estimated amount of Tenant’s Proportionate Share of C.A.M.C.A.M. Notwithstanding the foregoing, if Landlord’s costs and expenses associated with C.A.M. exceed the amount payable during the Base Year, in no event shall Tenant’s Proportionate Share of C.A.M. be increased during any Lease Year more than one percent (1%) per annum.

Appears in 1 contract

Samples: Lease (U-Store-It Trust)

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