Rent Credit for Demolition Year Sample Clauses

Rent Credit for Demolition Year. The Rent due and payable during the first (1st) Lease Year and continuing through the twelfth (12th) Lease Year recognizes and credits the cost of demolition of the Existing Improvements in the total amount of not more than $240,000, and shall serve as a rent credit therefore of $20,000 per year for 12 years, or until paid in full. The Lessee shall have the obligation to provide reasonable proof of its actual "out of pocket" costs for demolition which will serve as the basis for the Rent credit. The rent credit is not a sum that will be transferred between the parties but is rather an amount that has been contemplated as consideration for this Lease and shall not be increased or decreased based upon the actual demolition costs.
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Related to Rent Credit for Demolition Year

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