Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.
Fundamental Lease Provisions The provisions in this Article shall be referred to in this Lease as the "Fundamental Lease Provisions."
BASIC LEASE TERMS The following terms shall have the following meanings in this Lease:
Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.
BASIC LEASE PROVISIONS Each reference in this Lease to the “
Supplemental Lease Agreement No 8, dated May 28, 2002, by and between Hub Properties Trust (“Owner/Lessor”) and United States of America (“Government/Lessee”).
Item Agreement As negotiated items are agreed upon, they shall be reduced to writing and initialed by the chief negotiator of each party. Such initialing shall be construed as tentative agreement by both parties on that item or issue, subject to finalization by ratification by the membership of the Association and adoption by the Board.
SUMMARY OF BASIC LEASE INFORMATION TERMS OF LEASE DESCRIPTION
Original Lease The single executed original of this Lease marked "THIS COUNTERPART IS THE ORIGINAL EXECUTED COUNTERPART" on the signature page thereof and containing the receipt of the Lessor therefor on or following the signature page thereof shall be the Original Executed Counterpart of this Lease (the "Original Executed Counterpart"). To the extent that this Lease constitutes chattel paper, as such term is defined in the Uniform Commercial Code as in effect in any applicable jurisdiction, no security interest in this Lease may be created through the transfer or possession of any counterpart other than the Original Executed Counterpart.
Lease Terms 8.1. The Tenant must observe and perform all conditions and covenants that apply to the Allotment Site contained in any lease under which the Council hold the Allotment Site.