Laserfiche WebLink
(vi) In the event said Cancellation occurs <br />during the sixth five (5) years of the Term of this Lease, the <br />yearly installment of rent shall revert to Twenty-Nine Thousand <br />Eight Hundred Sixty Dollars ($29,860.00), which annual install- <br />ment of rent shall be due and payable on the successive annual <br />anniversaries of the Commencement Date hereof. <br />(vii) In the event said Cancellation occurs <br />during the seventh five (5) years of the Term of this Lease, the <br />yearly installment of rent shall revert to Thirty-Five Thousand <br />Eight Hundred Thirty Dollars ($35,830.00), which annual install- <br />ment of rent shall be due and payable on the successive annual <br />anniversaries of the Commencement Date hereof. <br />(viii) The total Base Rent (i.e., <br />$179,100.00) for each successive five (5) year renewal period of <br />this Lease, if any, shall be increased for each period by a <br />percentage increase equal to twenty percent (20%) over and above <br />the Base Rent being paid during the prior five (5) year period. <br />(i) Upon calculation of the total <br />Base Rent for each successive five (5) year period, Tenant shall <br />pay the Base Rent in five (5) equal annual installments, each <br />installment being due and payable on the successive annual <br />anniversary of the Commencement Date of this Lease. <br />(j) Any rental payment not paid within five (5) <br />days subsequent to the due date set forth herein shall bear <br />interest at the rate of ten percent (100) per annum from the due <br />date until paid. . <br />INSURANCE AND TAXES <br />5. (a) During the term hereof, Tenant shall be re- <br />sponsible for all personal property taxes and insurance as to <br />Tenant's Facility and shall carry, at no cost to Landlord, ade- <br />quate comprehensive public liability insurance with limits of not <br />less than $3,000,000.00 for bodily injury and death, and not less <br />than $500,000.00 for property damage. Tenant will name Landlord <br />as an additional insured thereon as its interest may appear and <br />shall provide Landlord, on the Commencement Date of this Lease, <br />with-certificates evidencing that such insurance is in full force <br />and effect and that notice to Landlord will be directly provided <br />by the insurance carrier in case of cancellation, or notice of -- <br />cancellation, or default on any premiums by or to the Tenant. <br />Tenant will indemnify Landlord against claims for any and all <br />injuries and deaths sustained by persons or any and all damage to <br />10.