Common use of FEE AND RENTAL Clause in Contracts

FEE AND RENTAL. (a) During the first year of this Agreement, the Licensee shall pay to Licensor a non- cancelable fee and rental in the sum of Thirty-Five Thousand and 00/100 Dollars ($35,000.00) dollars per annum. Payments shall be increased by three percent (3%) per year compounded annually during each year of the term. The first payment shall be due within twenty (20) days following the date of full execution of this Agreement (the “Effective Date”) and payments for subsequent years shall be due prior to the anniversary date of this Agreement. All payments shall be made directly to the City of Durham General Services Department and these payments shall be exclusive of charges for the furnishing of any utilities such as, but not limited to, electricity, gas, water, sewer or telephone. (b) Licensee shall have a separate electric meter to measure Licensee’s electric consumption and Licensee shall pay directly to the public utility company for the installation of the meter and for any electricity used by Licensee’s Equipment. (c) Licensor acknowledges that, if Licensee terminates this Agreement under the provisions of paragraph 1, Licensee shall be entitled to a refund of 90% of any prepaid rent, prorated to the date of termination. Licensee agrees to return the Site to its original, or better, condition upon vacating the premises, reasonable wear and tear excepted. Should the Licensor, in its sole discretion, decide to accept the Site with any equipment or property of Licensee’s remaining on the Site or in the Storage area, such equipment shall become the property of Licensor upon the Lease’s termination.

FEE AND RENTAL. (a) During the first year of this Agreement, the Licensee shall pay to Licensor a non- non-cancelable fee and rental in the sum of Thirtythirty-Five Thousand five thousand five hundred and 00/100 Dollars 00 dollars ($35,000.0035,500.00) dollars per annumyear for year one (1) of this License. Payments shall be increased by three percent (The rent payment amount will escalate 3%) per year compounded annually during % each year on the anniversary date of this Lease for year two (2) through ten (10) of the termLicense. The first annual payment shall be due within twenty (20) days following the date of full made on execution of this Agreement (the “Effective Commencement Date”) and payments for subsequent years shall be due prior to the anniversary date of this Agreement. All payments shall be made directly to the City of Durham General Services Department Department-Real Estate Division and these payments shall be exclusive of charges for the furnishing of any utilities such as, but not limited to, electricity, gas, water, sewer or telephone. (b) Licensee shall have a separate electric meter to measure Licensee’s electric consumption and Licensee shall pay directly to the public utility company for the installation of the meter and for any electricity used by Licensee’s Equipment. (c) Licensor acknowledges that, if Licensee terminates this Agreement under the provisions of paragraph 1, Licensee shall be entitled to a refund of 90% of any prepaid rent, prorated to the date of termination. Licensee agrees to return the Site to its original, or better, condition upon vacating the premises, reasonable wear and tear excepted. Should the Licensor, in its sole discretion, decide to accept the Site with any equipment or property of Licensee’s remaining on the Site or in the Storage area, such equipment shall become the property of Licensor upon the Lease’s termination.

FEE AND RENTAL. (a) During the first year of this Agreement, the Licensee shall pay to Licensor a non- cancelable fee and rental in the sum of Thirtythirty-Five Thousand five thousand and 00/100 Dollars 00 dollars ($35,000.00) dollars per annum. Payments shall be increased by three percent (3%) % percent per year compounded annually during each year of the term. The first payment shall be due within twenty (20) days following the date of full execution of this Agreement agreement (the “Effective Commencement Date”) and payments for subsequent years shall be due prior to the anniversary date of this Agreement. All payments shall be made directly to the City of Durham General Services Department and these payments shall be exclusive of charges for the furnishing of any utilities such as, but not limited to, electricity, gas, water, sewer or telephone. (b) Licensee shall have a separate electric meter to measure Licensee’s electric consumption and Licensee shall pay directly to the public utility company for the installation of the meter and for any electricity used by Licensee’s Equipment. (c) Licensor acknowledges that, if Licensee terminates this Agreement under the provisions of paragraph 1, Licensee shall be entitled to a refund of 90% of any prepaid rent, prorated to the date of termination. Licensee agrees to return the Site to its original, or better, condition upon vacating the premises, reasonable wear and tear excepted. Should the Licensor, in its sole discretion, decide to accept the Site with any equipment or property of Licensee’s remaining on the Site or in the Storage area, such equipment shall become the property of Licensor upon the Lease’s termination.