Common use of Impounds Clause in Contracts

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”). Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s option, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statement. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord Borrower shall have the rightdeposit into a reserve with Lender, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout month, one-twelfth (l/12th) of the Lease Termannual charges for ground or other rent, if any (but only if such rent is due less often than monthly or, regardless of payment frequency, if Borrower has failed to make one or more of such payments), insurance premiums and real estate taxes, assessments and similar charges relating to each Project. Any failure On or before Closing Date, Borrower shall deposit with Lender a sum of money which together with the monthly installments will be sufficient to pay make each of such payments thirty (30) days prior to the Monthly Impound Payment when date any delinquency or penalty becomes due with respect to such payments. Deposits shall be made on the basis of Lender’s estimate from time to time of the charges for the current year (after giving effect to any reassessment or, at Lender’s election, on the basis of the charges for the prior year, with adjustments when the charges are fixed for the then current year). All funds so deposited shall be held by Lender, without interest, and may be commingled with Lender’s general funds. Borrower hereby grants to Lender a security interest in all funds so deposited with Lender for the purpose of securing the Loan. While an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available exists, the funds deposited may be applied in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments charges for which such funds have been deposited, or to the payment of the Loan or any other charges affecting the security of Lender, as Lender may elect, but no such application shall be deemed to have been made by cashier’s checkoperation of law or otherwise until actually made by Lender. Upon Borrower shall furnish Lender with bills for the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety charges for which such deposits are required at least thirty (9030) days after prior to the end of each calendar yeardate on which the charges first become payable. If at any time the amount on deposit with Lender, Landlord together with amounts to be deposited by Borrower before such charges are payable, is insufficient to pay such charges, Borrower shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)deposit any deficiency with Lender immediately upon demand. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s option, shall be remitted to Tenant. Tenant Lender shall pay such charges when the amount of any underpayment within fifteen (15) days after receipt of the Statement. Tenant acknowledges that the Monthly Impound Payments are estimates only on deposit with Lender is sufficient to pay such charges and not Lender has received a representation of the amount of Tenant’s ultimate liability xxxx for Operating Costs, Real Property Taxes and insurance costssuch charges.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to TenantTenant in the exercise of its reasonable discretion. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on On the first day of each month throughout month, Borrower shall pay to Lender, for deposit into a reserve established by Lender (the Lease Term"Tax and Insurance Escrow Reserve"), one-twelfth (1/12th) of the annual charges for ground or other rent, if any (but only if such rent is due less often than monthly or, regardless of payment frequency, if Borrower has failed to make one or more of such payments), insurance premiums and real estate taxes, assessments and similar charges relating to the Project. Any failure At or before the initial advance of the Loan, Borrower shall deliver to pay Lender, for deposit in the Monthly Impound Payment when Tax and Insurance Escrow Reserve, a sum of money which together with the monthly installments will be sufficient to make each of such payments thirty (30) days prior to the date any delinquency or penalty becomes due with respect to such payments. The amount of the monthly installments shall be determined on the basis of Lender's estimate from time to time of the charges for the current year (after giving effect to any reassessment or, at Lender's election, on the basis of the charges for the prior year, with adjustments when the charges are fixed for the then current year). All funds deposited in the Tax and Insurance Escrow Reserve shall be held by Lender, without interest, and may be commingled with Lender's general funds. Borrower hereby grants to Lender a security interest in all funds so deposited in the Tax and Insurance Escrow Reserve for the purpose of securing the Loan. While an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available exists, the funds held in the same manner as for the failure to pay rent, including the imposition of late charges Tax and interest, and the right of Landlord to require that future Insurance Escrow Reserve may be applied in payment of the Monthly Impound Payments charges for which such funds have been deposited, or to the payment of the Loan or any other charges affecting the security of Lender, as Lender may elect, but no such application shall be deemed to have been made by cashier’s checkoperation of law or otherwise until actually made by Lender. Upon Borrower shall furnish Lender with bills for the occurrence of any Event of Default by Tenant hereunder, Landlord shall have charges for which the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety Tax and Insurance Escrow Reserve funds are required at least thirty (9030) days after prior to the end of each calendar yeardate on which the charges first become payable. If at any time the amount on deposit in the Tax and Insurance Escrow Reserve, Landlord shall deliver together with the monthly installments to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts be paid by Tenant (the “Statement”). Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunderBorrower before such charges are payable, oris insufficient to pay such charges, at Landlord’s option, shall be remitted to Tenant. Tenant Borrower shall pay any deficiency to Lender immediately upon demand, for deposit in the Tax and Insurance Escrow Reserve. Lender shall pay such charges when the amount of any underpayment within fifteen (15) days after receipt of on deposit in the Statement. Tenant acknowledges that the Monthly Impound Payments are estimates only Tax and not Insurance Escrow Reserve is sufficient to pay such charges and Lender has received a representation of the amount of Tenant’s ultimate liability bxxx for Operating Costs, Real Property Taxes and insurance costssuch charges.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon thirty (30) days’ prior written notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21.1 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant at the time such accounting is delivered to Tenant. Tenant shall pay the amount of any underpayment within fifteen thirty (1530) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costsAdditional Rent.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon thirty (30) days advance notice given to Tenant. Tenant The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21.1 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costsAdditional Rent.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21.1 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant Txxxxx shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.Additional Rent. 4.5

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. , Landlord shall have the right, at any time during the Lease Term, term to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Term Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant Xxxxxt shall be credited against axxxxxx next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted bx xxxxxxed to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs. 5.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted to TenantTenant within thirty (30) days of delivery of such accounting. Tenant shall pay the amount of any underpayment within fifteen thirty (1530) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of at one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the this Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each such calendar yearYear, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs liability for Real Property Taxes and insurance costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s option, 's option shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. , Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to TenantTenant in the exercise of its reasonable discretion. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s option, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of excess Operating Costs, excess Real Property Taxes Taxes, excess insurance costs, and insurance costs Utilities based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to reasonably adjust the amount of the Monthly Impound Payment not less than 15 days written upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21(a) and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of excess Operating Costs Costs, excess Real Property Taxes, excess insurance costs, and Utilities and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s option, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for excess Operating Costs, excess Real Property Taxes and Taxes, excess insurance costs, and Utilities.

Impounds. 1 After the Base Year, Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of excess Operating Costs, excess Real Property Taxes Taxes, excess insurance costs, and insurance costs Utilities (as defined in section 10.1), based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to initiate or reasonably adjust the amount of the Monthly Impound Payment upon not less than 30 days written notice to Tenant, which shall include reasonable documentation supporting the estimate. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21(a) and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of excess Operating Costs Costs, excess Real Property Taxes, excess insurance costs, and Utilities and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted to TenantTenant within 30 days of delivery of such accounting. Tenant shall pay the amount of any underpayment within fifteen (15) 30 days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for excess Operating Costs, excess Real Property Taxes and Taxes, excess insurance costs, and Utilities.

Impounds. 1 Sub-Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Sub-Landlord’s reasonable estimate of Sub-Tenant’s future liability for such amounts under this LeaseSublease. Sub-Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Sub-Tenant’s annual liability therefor. Sub-Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Sub-Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound ANNEX B Payment when due shall be an Event of Default under this Lease Sublease and shall entitle Sub-Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Sub-Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Sub-Tenant hereunder, Sub-Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Sub-Tenant’s default. Within ninety (90) days after the end of each calendar year, Sub-Landlord shall deliver to Sub-Tenant an accounting of Sub-Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Sub-Tenant. Any overpayment by Sub-Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Sub-Landlord’s option, shall be remitted to Sub-Tenant. Sub-Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Sub-Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Sub-Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 In the event that (i) Lease Guarantor is not liable under the Guaranty of Lease, (ii) insurance premiums have not been paid when due or Taxes have not been paid at least 15 days prior to the due date therefore, (iii) Tenant failed to provide proof to Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount Mortgagee of such impound payment as required by the terms of Section 3.3 above, or (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, at any time during the iv) Lease Term, Guarantor is downgraded to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be a rating below BB- (by S&P) or below Ba3 (by Xxxxx’x) or (v) there has been an Event of Default under this Lease and shall entitle Landlord or the Guaranty of Lease, then upon demand therefore, in addition to exercise any or all of its remedies available in the same manner monthly Base Rent payments, as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereundersuch payments are due, Landlord shall have the right to apply require Tenant to thereafter make monthly payments to Landlord (or at Landlord’s direction) in amounts sufficient to pay, in advance, one-twelfth (1/12th) of the amount reasonably estimated by Landlord to equal annual Taxes and insurance premiums (the “Impound Funds”) each as reasonably determined by Landlord. So long as no Event of Default hereunder has occurred and is continuing, all unapplied amounts of Monthly Impound Payments Funds shall be held by Landlord’s Mortgagee in an account (the “Impound Account”) to Tenant’s defaultpay said taxes, assessments and insurance premiums in one installment before the same become delinquent. Within ninety Tenant shall be responsible for ensuring the receipt by Landlord and Mortgagee, at least thirty (9030) days after prior to the end respective due date for payment thereof, of each calendar yearall bills, invoices and statements for all taxes, assessments and insurance premiums to be paid from the Impound Account, and so long as no Event of Default hereunder or under this Lease has occurred and is continuing, Landlord shall deliver cause Mortgagee to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs pay the governmental authority or other party entitled thereto directly to the extent funds are available for such purpose in the Impound Account. In making any payment from the Impound Account, Landlord and the estimated amounts paid by Tenant (the “Statement”). Any overpayment by Tenant its Mortgagee shall be entitled to rely on any xxxx, statement or estimate procured from the appropriate public office or insurance company or agent without any inquiry into the accuracy of such xxxx, statement or estimate and without any inquiry into the accuracy, validity, enforceability or contestability of any tax, assessment, valuation, sale, forfeiture, tax lien or title or claim thereof. No interest on funds contained in the Impound Account shall be paid. If the total funds in the Impound Account shall exceed the amount of payments actually applied by Landlord for the purposes of the Impound Account, such excess may be credited against next Monthly Impound Payments due hereunder, by Landlord on subsequent payments to be made hereunder or, at the option of Landlord’s option, shall be remitted refunded to Tenant. Tenant If however, the Impound Account shall not contain sufficient funds to pay the amount of any underpayment sums required when the same shall become due and payable, Tenant shall, within fifteen five (155) days after receipt of written notice thereof, deposit the Statement. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the full amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costsany such deficiency.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs liability for Real Property Taxes and insurance costs and the estimated amounts paid by Tenant (the “Statement”)Xxxxxx. Any overpayment by Tenant Xxxxxx shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s Xxxxxxxx's option, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15115) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of or the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for or such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs liability for Real Property Taxes and insurance costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted to TenantTenant forthwith. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of or the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to TenantTenant in the exercise of its reasonable discretion. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21.1 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costsAdditional Rent.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21.1 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts of Monthly Impound Payments previously paid by Tenant. During the Term, Tenant and its accountants and agents may review, at Tenant’s sole cost and expense, the books and records supporting such determination in an office of Landlord, or Landlord’s agent, during normal business hours, upon giving Landlord five (5) days advance written notice within sixty (60) days after receipt of such accounting, but in no event more often than once in any one (1) year period, subject to execution of a confidentiality agreement acceptable to both parties, and provided that if Tenant utilizes an independent accountant to perform such review it shall be one of national standing which is reasonably acceptable to Landlord, is not compensated on a contingency basis and it shall be subject to such confidentiality agreement. In the “Statement”)event of a dispute between Xxxxxxxx and Xxxxxx relating to the accounting or any charges imposed on Tenant pursuant thereto, the confidentiality agreement shall not preclude Tenant from including any such accounting in any action asserting relief therefrom. If Tenant fails to object to Xxxxxxxx’s determination of Expenses within ninety (90) days after receipt, Tenant shall be deemed to have approved such determination and shall have no further right to object to or contest such determination. Any overpayment by Tenant Xxxxxx shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costs.Additional Rent

Impounds. 1 Landlord Following the occurrence and during the continuance of a Trigger Event, unless Borrower has delivered to Lender the Tax and Insurance Letter of Credit Lender shall have deposit from funds in the rightLockbox Account monthly, but not (a) one twelfth (1/12th) of the obligationTaxes that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of b) one-twelfth (1/12th) of Tenantthe Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the insurance policies required by Lender upon the expiration thereof in order to accumulate with Lender sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to expiration (said amounts in (a) and (b) above hereinafter called the “Tax and Insurance Escrow Fund”). Deposits shall be made on the basis of Lender’s annual liability therefor. Landlord shall have estimate from time to time of the rightcharges for the current year (after giving effect to any reassessment or, at any time during Lender’s election, on the Lease Term, to adjust the amount basis of the Monthly Impound Payment upon notice to Tenantcharges for the prior year, with adjustments when the charges are fixed for the then current year). The Monthly Impound Payment All funds so deposited shall be due held by Lender, without interest, and payable on may be commingled with Lender’s general funds. Borrower hereby grants to Lender a security interest in all funds so deposited with Lender for the first day purpose of each month throughout securing the Lease TermLoan. Any failure to pay the Monthly Impound Payment when due shall be While an Event of Default under this Lease and shall entitle Landlord to exercise any or all of its remedies available exists, the funds deposited may be applied in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments charges for which such funds have been deposited, or to the payment of the Loan or any other charges affecting the security of Lender, as Lender may elect, but no such application shall be deemed to have been made by cashier’s checkoperation of law or otherwise until actually made by Lender. Borrower shall furnish Lender with bills for the charges for which such deposits are required at least thirty (30) days prior to the date on which the charges first become payable. If at any time the amount on deposit with Lender, together with amounts to be deposited by Borrower before such charges are payable, is insufficient to pay such charges, Borrower shall deposit any deficiency with Lender promptly upon demand. Lender shall pay such charges when the amount on deposit with Lender is sufficient to pay such charges and Lender has received a bxxx for such charges. Upon the occurrence of any a Trigger Event Cure, provided no Event of Default by Tenant hereunderexists, Landlord shall have the right to apply all unapplied amounts proceeds in the Tax and Insurance Escrow Fund or the Tax and Insurance Letter of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar yearCredit, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”). Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionas applicable, shall be remitted returned to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statement. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Operating Costs, Real Property Taxes and insurance costsBorrower.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance Insurance costs based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event of Default under this Lease and shall entitle Landlord to exercise any or of all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s 's check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs and the estimated amounts paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s 's option, shall be remitted to TenantTenant within thirty (30) days of delivery of such accounting. Tenant shall pay the amount of any underpayment within fifteen thirty (1530) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for or Operating Costs, Real Property Taxes and insurance costs.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21(a) and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen thirty (1530) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costsAdditional Rent.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s 's reasonable estimate of Tenant’s 's future liability for such amounts under this Lease. Landlord shall initially establish the monthly amount of such impound (“"Monthly Impound Payments”"), based upon its estimate of one-twelfth of Tenant’s 's annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21(a) and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s 's default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s 's actual Pro Rata Share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to Tenant. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s 's ultimate liability for Operating Costs, Real Property Taxes and insurance costsAdditional Rent.

Impounds. 1 Landlord shall have the right, but not the obligation, to collect and impound, in advance, any or all components of Operating Costs, Real Property Taxes and insurance costs Additional Rent based upon Landlord’s reasonable estimate of Tenant’s future liability for such amounts under this LeaseLease if Tenant has been late in the payment of any Additional Rent more than one (1) time in any twelve (12) month period. Landlord shall initially establish the monthly amount of such impound (“Monthly Impound Payments”), based upon its estimate of one-twelfth of Tenant’s annual liability therefor. Landlord shall have the right, right at any time during the Lease Term, to adjust the amount of the Monthly Impound Payment upon notice to Tenant. The Monthly Impound Payment shall be due and payable on the first day of each month throughout the Lease Term. Any failure to pay the Monthly Impound Payment when due shall be an Event considered a failure to pay rent when due under Section 21 and other relevant provisions of Default under this Lease Lease, and shall entitle Landlord to exercise any or all of its remedies available in the same manner as for the failure to pay rent, including the imposition of late charges and interest, and the right of Landlord to require that future payment of the Monthly Impound Payments be made by cashier’s check. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the right to apply all unapplied amounts of Monthly Impound Payments to Tenant’s default. Within ninety (90) days after the end of each calendar year, Landlord shall deliver to Tenant an accounting of Tenant’s actual Pro Rata Share share of Operating Costs Additional Rent and the estimated amounts previously paid by Tenant (the “Statement”)Tenant. Any overpayment by Tenant shall be credited against next Monthly Impound Payments due hereunder, or, at Landlord’s optionif the Term has expired, shall be remitted to TenantTenant within fifteen (15) days. Tenant shall pay the amount of any underpayment within fifteen (15) days after receipt of the Statementaccounting. Tenant acknowledges that the Monthly Impound Payments are estimates only and not a representation of the amount of Tenant’s ultimate liability for Additional Rent. Tenant’s share of Operating Costs, Real Property Taxes Taxes, and insurance costscharges are currently $0.19 per Rentable Square Foot, per month, which estimate includes a cap on Real Property Taxes. During the first Lease Year, the Real Property Taxes will be capped at $.13 per Rentable Square Foot, per month. After the first Lease Year, the Real Property Taxes shall be subject to a maximum annual increase of five percent (5%). In the event that the Building sells or there are any new taxes and/or new assessments, such amounts would not be included as part of the cap. In addition, there shall be no cap on the Real Property Taxes in the event that Tenant exercises its Option to Extend per Section 29 of the Addendum.