Rent for Extended Term. Xxxxxx agrees to pay to Lessor annually as rent for the Premises during the Extended Term the annual sum of $29,048.00 (approximately 227 acres at approximately $128.00 per acre). The payment of the rental amounts during the Extended Term shall be paid in two (2) separate and equal installments of $14,524.00, with the first installment being due on or before May 31, 2024, and the second installment being due on or before September 30, 2024. All rental payments must be payable to Williamson County, Texas and be hand delivered or mailed to: Williamson County Parks & Recreation Department ATTN: Parks Director 219 Xxxxx Xxxxxxxx Leander, TX 78641
Rent for Extended Term. The beginning annual rental for the extended term of the lease shall be the greater of: (a) the annual rental during the last year of the original term or (b) ten (10%) percent of the fair market value of the leased property as determined by agreement of the parties or by appraisal in the manner hereinafter set forth. At the end of each consecutive three-year period during the extended term, the annual rental shall be increased by 15% over the immediately preceding period, (making such percentage increases compounded). All rent shall be due and payable monthly in advance. The parties hereto shall have until a time six months prior to the expiration of the original lease term within which to agree upon the fair market value of the leased property. If the parties fail to agree upon the fair market value by such time, then each party, at its cost and by giving notice to the other party, shall, within 30 days, appoint a real estate appraiser with at least 5 years’ full-time commercial appraisal experience in the Xxxxx County area to appraise and determine the fair market value of the leased property at that time. If either party refuses to appoint an appraiser within 30 days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser to determine the fair market value of the leased property. The two appraisers appointed by the parties shall meet promptly and attempt in good faith to agree upon the fair market value of the leased property and, if they fail to agree within 60 days, they shall agree upon a third qualified appraiser within 10 days after such 60-day period. If the two appraisers fail to agree upon a third appraiser, either party to this Lease, by giving 10 days’ notice to the other, may apply to the Master Calendar Judge of the eighth Judicial District Court of Nevada, in and for Xxxxx County, for the appointment of the third qualified appraiser under this paragraph. The third appraiser, however appointed, shall be a person who has not previously acted in any capacity for either party. Each party shall pay one-half of the cost of appointing the third appraiser and one-half of such third appraiser’s fee. Within 30 days after the appointment of the third appraiser, a majority of the appraisers shall determine the fair market value of the leased property and immediately notify the parties hereto. The parties hereto shall immediately thereafter execute an endorsement to this Lease sett...
Rent for Extended Term. Lease Year Rent Per Annum Monthly Installment ONE through Four, MARCH 1, 2010 through and including FEBRUARY 28, 2014 $ 396,000.00 $ 33,000.00
Rent for Extended Term. The parties agree that the rentable square footage of the Premises for the purposes of this Addendum is Twelve Thousand Four Hundred Fifteen square feet (12,415). Tenant shall pay to Landlord the Basic Rent for the Extended Term as follows detailed upon the following page:
Rent for Extended Term. 8 5. [Intentionally Omitted].......................... 10 6.
Rent for Extended Term. Base Rent for the Extended Term shall ---------------------- be an amount equal to ninety-five percent (95%) of the fair market rental value of the Premises in relation to market conditions at the time of the extension; provided, however, in no event shall the Base Rent for the Extended Term be less than Fifty-two Thousand Nine Hundred Three Dollars and Fifty Cents(i.e. $52,903.50). The fair market rental value of the Premises shall be determined by and as follows:
Rent for Extended Term. Base Rent for the Extended Term shall be an amount equal to the fair market rental value of the Premises in relation to market condi-
Rent for Extended Term. Base Rent for the Extended Term shall be an amount equal to the fair market rental value of the Premises in relation to market conditions at the time of the extension; provided, however, in no event shall the Base Rent for the Extended Term be less than the Base Rent applicable during the tenth (10th) lease year of the Lease Term, nor shall the annual increases of such Base Rent be less then applicable market rates. The fair market rental value of the Premises shall be determined by and as follows:
Rent for Extended Term. If Lessee desires to exercise the Extension Option, then Lessee shall give notice to Lessor not earlier than twelve (12) months nor later than nine (9) months prior to the expiration of the Original Lease Term of Lessee's request for Lessor's quotation of the "Market Rent" for the Premises as of the commencement date of the Extended Term. For the purposes of this Rider Paragraph 3 the term "Market Rent" shall mean the monthly amount per square foot in the Premises that a willing, non-equity, tenant would pay and a willing landlord would accept at arm's length from a comparable tenant for space in a comparable building or buildings, with comparable tenant improvements, in a comparable location, giving appropriate consideration to monthly rental rates per square foot, the presence or absence of rent escalation clauses such as operating expense and tax pass-throughs, length of lease term, size and location of premises being leased, if any, and other generally applicable terms and conditions of tenancy for a similar building or buildings; provided, that the value of any improvements made or to be made to the Premises by Lessee at Lessee's expense shall not be considered for the purpose of valuing the Market Rent of the Premises and in no event shall the Market Rent for the Extended Term be less than the monthly Base Rent for the last month of the Original Lease Term.
Rent for Extended Term. LESSEE shall pay to LESSOR as base Annual Rent and Monthly Rent for the Premises during each Extended Term in the amounts set by an appraisal as set forth in Section 6(G). Said Monthly Rent shall be paid in advance of each month of the applicable Extended Term, with proration to occur for the partial first and last months, if the commencement of such extension is other than on the first day of the calendar month. All Monthly Rent by the LESSEE during the applicable Extended Term shall be paid without deduction, offset, prior notice or demand, no later than the first (1st) day of each and every month during the Extended Term.
