RENTALS, FEES AND RECORDS Clause Samples

RENTALS, FEES AND RECORDS. During the term hereof, Lessee shall pay to Lessor rentals for the Leased Premises according to the following schedule: A. LEASED PREMISES 1. Lessee shall pay Lessor a base rate of $0.2347 per square foot per year for 7,800 square feet for the parcel. Said base rate shall be adjusted in accordance with paragraph 2 of this Article. The address of the hangar is ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇. Lessee shall pay to Lessor such rent, payable in advance and due before January 1 of each year. Based upon land survey (Exhibit A) 2. The rent will be adjusted effective the fifteenth day of the month in which falls the first anniversary of the commencement of this Agreement, and annually thereafter on the anniversary of the first adjustment. The adjustments will be calculated by determining the consumer price index for all urban consumers (or its closest successor index in the County’s judgment) (“CPI-U”) for the most current available month prior to the month in which the Term commences and the CPI-U for the same month of each year thereafter for the entire Term of this Agreement. In the event that CPI-U in any succeeding year is greater or less than the initial index, the annual rental for the following year shall be adjusted accordingly. In the event the CPI-U is no longer published, rent shall be adjusted in accordance with a comparable index as determined by the U.S. Department of Labor. Should the adjustment not yet be available at the time rent is due, Lessee shall pay the same amount as they did the preceding year and shall pay the amount of the adjustment within thirty days of receiving written notice of its amount. 3. Lessee will be responsible for all utility costs to the hangar including all costs associated with connection fees, tap fees, meter fees, and any other fees that may be charged by the utility companies associated with the Lessee’s hangar.