Common use of Rent Security Deposit Clause in Contracts

Rent Security Deposit. a. As rent for the Premises, the Tenant shall pay unto the City Nine Thousand One Hundred Fifty Dollars and No Cents ($9,150.00) (the “Rent”), which Rent is equal to $25.00 per day per marked parking space. The Rent shall be due and payable in full, in advance, no later than May 1st, without deduction, setoff or counterclaim whatsoever, and without demand. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. b. The Tenant shall also pay as additional rent all sums, taxes, assessments, costs, expenses and other payments which the Tenant under any of the provisions of this Lease assumes or agrees to pay (the “Additional Rent”), and in the event of any nonpayment thereof, the City shall have all the rights and remedies provided in this Lease and/or by law or at equity. c. Except as otherwise provided for in this Lease, any Additional Rent shall be due and payable thirty (30) calendar days after receipt of notice of amount due and payable. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. d. In the event the Rent or Additional Rent under this Lease, or any part thereof, shall remain unpaid for a period of fifteen (15) business days after the day on which it is due, then in addition to all other sums due by the Tenant under this Lease, the Tenant shall pay the City as Additional Rent: (1) late fees equal to five percent (5%) of the unpaid amount, and (2) if an action of any type is filed in any court, reasonable attorney’s fees. e. No later than the date of this Lease, the Tenant shall deposit with the City’s Finance Director, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx XX, 00000, the amount of Zero Dollars and No Cents ($0.00) (the “Security Deposit”). The City shall have no obligation to pay any interest on the Security Deposit, and may commingle it in an account with other funds. The City, at its option, may apply any part of the Security Deposit towards the payment of outstanding amounts due under this Lease, provided always that the Tenant’s liability under this Lease shall not thereby be discharged. Upon any uncured monetary default, the City may request, and the Tenant shall be obligated to deposit, additional security to secure the Tenant’s performance under this Lease within ten (10) business days to restore the Security Deposit to its original amount. If not used, the Security Deposit shall be returned to the Tenant within thirty (30) calendar days after the Tenant vacates the Premises in accordance with Paragraph 24.

Rent Security Deposit. a. As (a) The rent (the "Rent") for the Premisesterm hereof shall commence to accrue on March 1, 2000. Rent shall be and consist of: (i) an annual fixed rent in the amount of Seventy Eight Thousand Three Hundred Ninety Dollars ($78,390.00) or $19.50 per rentable square foot, together with (ii) such other sums of money as shall become due and payable by the Tenant shall pay unto to the City Nine Thousand One Hundred Fifty Dollars and No Cents Landlord as provided in this lease, such other sums of money to be deemed to be additional rental whether or not such sums of money are designated as such hereunder. ($9,150.00b) (the “Rent”), which Rent is equal to $25.00 per day per marked parking space. The Rent shall be paid to the Landlord at its address specified in Section 28, or at such other place as the Landlord may from time to time designate, in lawful money of the United States of America, as and when the same shall become due and payable in full, in advance, no later than May 1st, without deduction, setoff or counterclaim whatsoever, and without demand. All payments abatement or offset and without notice or demand therefor. (c) The annual Fixed Rent for each lease year shall be made payable to in equal monthly installments of Six Thousand Five Hundred Thirty-Two and 50/100 ($6,532.50) in advance on the “City first day of Annapolis” each and shall be sent or delivered to every calendar month during each lease year. If the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. b. The Tenant shall also pay as additional rent all sums, taxes, assessments, costs, expenses and Commencement Date is other payments which than the Tenant under any first day of the provisions of this Lease assumes or agrees to pay (the “Additional Rent”), and in the event of any nonpayment thereofcalendar month, the City shall have all first monthly installment of the rights and remedies provided in this Lease and/or by law or at equity. c. Except as otherwise provided for in this Lease, any Additional Fixed Rent shall be due and payable thirty prorated to the end of the calendar month. (30d) calendar days after receipt of notice of amount due and payable. All payments The additional rent shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000as hereinafter provided. d. In the event the Rent or Additional Rent under this Lease, or any part thereof, shall remain unpaid for a period of fifteen (15e) business days after the day on which it is due, then in addition to all other sums due by If the Tenant under this Lease, the Tenant shall pay the City as Additional Rent: (1) late fees equal to five percent (5%) of the unpaid amount, and (2) if an action of any type is filed in any court, reasonable attorney’s fees. e. No later than the date of this Lease, the Tenant shall deposit with the City’s Finance Director, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx XX, 00000, the amount of Zero Dollars and No Cents ($0.00) (the “Security Deposit”). The City shall have no obligation fails to pay any interest on the Security Deposit, and may commingle it in an account with other funds. The City, at its option, may apply any part of the Security Deposit towards the payment of outstanding amounts due under this Lease, provided always that the Tenant’s liability under this Lease shall not thereby be discharged. Upon any uncured monetary default, the City may request, and the Tenant shall be obligated to deposit, additional security to secure the Tenant’s performance under this Lease within ten (10) business days to restore the Security Deposit to its original amount. If not used, the Security Deposit shall be returned to the Tenant within thirty (30) calendar days after the same is due and payable any installment of Fixed Rent or any additional rent to be paid by the Tenant vacates to the Premises Landlord as provided in accordance with Paragraph 24this lease, such unpaid amount shall bear interest from the due date thereof to the date of payment at the rate equal to the lesser of (i) ten percent (10%) per annum, or (ii) the maximum rate permitted by applicable law. Such interest shall be paid by the Tenant to the Landlord at the time that the Tenant pays to the Landlord the installment of Fixed Rent or the additional rent upon which such interest shall have accrued. (f) As used herein, the term "Gross Rentable Area of the Demised Premises" shall mean Four Thousand Twenty (4,020) square feet.

Rent Security Deposit. a. As rent for 3.1 Tenant agrees to pay to Landlord, in advance on or before the Premisesfirst day of each month, the Tenant shall pay unto Base Rent, subject to any adjustment as provided in this Lease, without deduction or set off, for each month of the City Nine Thousand One Hundred Fifty Dollars and No Cents entire Lease Term. The first monthly installment of Base Rent ($9,150.0018,193.00) and the Security Deposit required under Section 1.9 ($218,316.00) shall be due and payable by Tenant to Landlord upon execution of this Lease and the “Rent”), which Rent is equal to $25.00 per day per marked parking space. The monthly installments of Base Rent shall be due and payable without demand on or before the first day of each calendar month thereafter during the Lease Term. Base Rent for any period of less than a full month shall be prorated, based on one-thirtieth (1/30) of the current Base Rent for each day of the partial month this Lease is in full, in advance, no later than May 1st, without deduction, setoff or counterclaim whatsoever, and without demandeffect. All payments sums other than Base Rent payable by Tenant hereunder shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. b. The Tenant shall also pay as additional rent all sums, taxes, assessments, costs, expenses and other payments which the Tenant under any of the provisions of this Lease assumes or agrees to pay (the constitute “Additional Rent”” (as further defined in Section 4(A)(i), ). Base Rent and in the event of any nonpayment thereof, the City Additional Rent shall have all the rights and remedies provided be collectively referred to in this Lease and/or by law or at equityas “Rent”. c. Except as otherwise provided for 3.2 Notwithstanding anything to the contrary contained in this Lease, any Additional Rent shall be due and payable thirty (30) calendar days after receipt of notice of amount due and payable. All except for the payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. d. In the event the Rent or Additional Rent under this Lease, or any part thereof, shall remain unpaid for a period of fifteen (15) business days after the day on which it is due, then in addition to all other sums due by the Tenant under this Lease, the Tenant shall pay the City as Additional Rent: (1) late fees equal to five percent (5%) of the unpaid amount, and (2) if an action of any type is filed in any court, reasonable attorney’s fees. e. No later than the date upon execution of this Lease, as set forth above, until further notice, all Rent and other payments due pursuant to Tenant’s occupancy of the Tenant shall deposit Premises, whether pursuant to this Lease or otherwise, are to be paid by check, payable to “Xxxxx 00 Xxxxx Xxxxxx LLC”; and either (i) sent by mail to: Xxxxx 00 Xxxxx Xxxxxx LLC, c/o CRG Management, LLC, 1330 Avenue of the Xxxxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Accounts Receivable Clerk or (ii) by wire transfer to: HSBC Bank, 000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, ABA# 00000000, Account: Xxxxx 00 Xxxxx Xxxxxx LLC, Account #: 610-877968. Failure to make payments in accordance with the Cityterms herein may result in the inability to credit Tenant’s Finance Directoraccount in a timely manner. 3.3 If any installment of Rent (or any portion thereof) owed by Tenant to Landlord under this Lease is not received within five (5) days after the due date thereof, 000 Xxxx xx Xxxxxxxxxx Xxxxxxwithout implying Landlord’s consent to such late payment, Xxxxxxxxx XXTenant, 00000to the extent permitted by law, shall pay, in addition to said installment of Rent, a late payment charge equal to two percent (2%) per month of such installment of the Rent. Said late payment charge shall constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional costs and expenses which Landlord expects to incur in connection with the handling and processing of late installment payments of Rent owed by Tenant to Landlord hereunder. If there is such a late payment by Tenant, the amount damages resulting to Landlord will be difficult to ascertain precisely, and the foregoing late charge constitutes a reasonable and good faith estimate by the parties of Zero Dollars the extent of such damages and No Cents ($0.00) (does not constitute interest. Notwithstanding the “foregoing, such late charges shall not apply to any sums that may have been advanced by Landlord to or for the benefit of Tenant pursuant to this Lease. 3.4 The Security Deposit”, if any, shall be held by Landlord as security for the performance by Tenant of Tenant’s covenants and obligations under this Lease. Such Security Deposit shall not be considered an advance payment of Rent or a measure of Landlord’s damages in a default by Tenant. Upon any Event of Default (as hereinafter defined) by Tenant, Landlord may (but shall not be obligated to), without prejudice to any other remedy and without any further notice to Tenant, use the Security Deposit to the extent necessary to fund any arrearage of Rent and any other damage, injury, expense or liability caused to Landlord by such Event of Default. The City shall have no obligation to pay any interest on Following such application of the Security Deposit, and may commingle it in an account with other funds. The CityTenant shall pay to Landlord, at its option, may apply any part within five (5) days of the Security Deposit towards the payment of outstanding amounts due under this Lease, provided always that the TenantLandlord’s liability under this Lease shall not thereby be discharged. Upon any uncured monetary defaultwritten demand, the City may request, and the Tenant shall be obligated to deposit, additional security to secure the Tenant’s performance under this Lease within ten (10) business days amount so applied to restore the Security Deposit to its original amountamount (failure to restore such Security Deposit shall be a further Event of Default). If there is not usedthen an Event of Default, any remaining balance of the Security Deposit shall be returned by Landlord to Tenant upon termination of this Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to the transferee and, provided the transferee acknowledges receipt of same, thereafter shall have no further liability for the return of the Security Deposit. If the Security Deposit is in the form of cash, the Security Deposit shall accrue interest, less a one percent (1%) annual administrative fee payable to Landlord. 3.5 All Rent due hereunder that is not received following the expiration of any notice and cure period required under this Lease, or as otherwise set forth in this Lease, shall bear interest from the due date until paid in full at a rate equal to the lesser of: (a) eighteen percent (18%) per annum or (b) the maximum legal rate allowable by law (the “Default Rate”). If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payment(s) of Rent due and accruing thereafter. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord to Tenant within thirty upon demand by Tenant. 3.6 No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord’s right to recover the balance or to pursue any other remedy. If any check delivered to Landlord by Tenant in payment of Rent is not honored by the financial institution upon which such check was drawn and is returned to Landlord for any reason whatsoever, Landlord may impose, as Additional Rent, a returned check service charge of $75.00 each time a check is not honored and returned to Landlord. Such returned check service charge shall be in addition to and not in lieu of any late payment charge assessed pursuant the Section 3.3 above. If any two (302) calendar days checks delivered to Landlord by Tenant during a Lease Year in payment of Rent are not honored by the financial institution upon which such checks were drawn are returned to Landlord for any reason whatsoever, Landlord may require, upon written notice to Tenant, that any and all subsequent payments of Rent be made by either cash, money order or cashier’s check for the following twelve (12) month period of the Lease Term. 3.7 Any late charge and/or interest assessed pursuant to Section 3.3 and Section 3.5, respectively, if not previously paid, shall be added to and become part of the next succeeding payment of Rent to be made hereunder and shall be deemed to constitute Additional Rent. 3.8 If Rent or any portion thereof shall be or become uncollectible by virtue of any law, governmental order of regulation, or direction of any public officer or body, Tenant shall enter into such agreement or agreements and take such other action (without additional expense to Tenant) as Landlord may request, as may be legally permissible, to permit Landlord to collect the maximum Rent from time to time during the continuance of such legal rent restriction as may be legally permissible, but not in excess of the amounts of Rent payable under this Lease. Upon the termination of such legal rent restriction, (a) the Base Rent and Additional Rent, after such termination, shall become payable under this Lease in the amounts set forth in this Lease for the period following such termination; and (b) Tenant vacates shall pay to Landlord, if legally permissible, an amount equal to (i) the Premises Rent which would have been paid pursuant to this Lease, but for such rent restriction, less (ii) the Rent paid by Tenant to Landlord during the period that such rent restriction was in accordance with Paragraph 24effect.

Rent Security Deposit. a. As rent for the Premises, the Tenant shall pay unto the City Nine Four Thousand One Five Hundred Fifty Seventy-Five Dollars and No Cents ($9,150.004,575.00) (the “Rent”), which Rent is equal to $25.00 per day per marked parking space. The Rent shall be due and payable in full, in advance, no later than May 1st, without deduction, setoff or counterclaim whatsoever, and without demand. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. b. The Tenant shall also pay as additional rent all sums, taxes, assessments, costs, expenses and other payments which the Tenant under any of the provisions of this Lease assumes or agrees to pay (the “Additional Rent”), and in the event of any nonpayment thereof, the City shall have all the rights and remedies provided in this Lease and/or by law or at equity. c. Except as otherwise provided for in this Lease, any Additional Rent shall be due and payable thirty (30) calendar days after receipt of notice of amount due and payable. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000. d. In the event the Rent or Additional Rent under this Lease, or any part thereof, shall remain unpaid for a period of fifteen (15) business days after the day on which it is due, then in addition to all other sums due by the Tenant under this Lease, the Tenant shall pay the City as Additional Rent: (1) late fees equal to five percent (5%) of the unpaid amount, and (2) if an action of any type is filed in any court, reasonable attorney’s fees. e. No later than the date of this Lease, the Tenant shall deposit with the City’s Finance Director, 000 Xxxx xx Xxxxxxxxxx Xxxxxx, Xxxxxxxxx XX, 00000, the amount of Zero Dollars and No Cents ($0.00) (the “Security Deposit”). The City shall have no obligation to pay any interest on the Security Deposit, and may commingle it in an account with other funds. The City, at its option, may apply any part of the Security Deposit towards the payment of outstanding amounts due under this Lease, provided always that the Tenant’s liability under this Lease shall not thereby be discharged. Upon any uncured monetary default, the City may request, and the Tenant shall be obligated to deposit, additional security to secure the Tenant’s performance under this Lease within ten (10) business days to restore the Security Deposit to its original amount. If not used, the Security Deposit shall be returned to the Tenant within thirty (30) calendar days after the Tenant vacates the Premises in accordance with Paragraph 24.