Circuit City 1997 Annual Report Download - page 35

(3) upon this transaction or any document to which Tenant is a party creating a transfer in any interest in the PREMISES; (4) in lieu of or as a
direct substitute in whole or in part of or in addition to any real property taxes on the PREMISES; (5) based on any parking spaces or parking
facilities provided in the PREMISES or (6) in consideration for services, such as police protection, fire protection,, street, sidewalk and
roadway maintenance, refuse removal or other services that may be provided by any governmental or quasi-governmental agency from time to
time which were formerly provided without charge or with less charge to property owners or occupants. Tenant shall pay Real Property Tax
cost on the date any taxes or installments of taxes are due and payable as determined by the taxing authority, evidenced by the tax bill.
Landlord shall determine and notify Tenant of Tenant's share not less than thirty (30) days in advance of the date such taxes or installment of
taxes is due and payable. In the event Landlord fails to deliver such timely determination and notice to Tenant, then Tenant shall have thirty
(30) days from receipt of such notice to remit payment of Tenant's share to Landlord. The foregoing notwithstanding, upon notice from
Landlord, Tenant shall pay as additional rent Tenant's share to landlord in advance monthly installments equal to one twelfth (1/12) of
Landlord's reasonable estimate of Tenant's share of the Real Estate Taxes payable under this Lease, together with monthly installments of base
rent, and Landlord shall hold such payments in a non-interest bearing account. Landlord shall determine and notify Tenant of any deficiency in
the impound account Tenant shall pay any deficiency of funds in the impound account not less than thirty (30) days in advance of the date such
taxes or installment of taxes is due and payable. In the event Landlord fails to deliver such timely deficiency determination and notice to
Tenant, then Tenant shall have thirty (30) days from receipt of such notice to remit payment of such deficiency to Landlord. If Landlord
determines that Tenant's impound account has accrued an amount in excess of Tenant's share, then such excess shall b credited to Tenant within
said notice from Landlord.
12. UTILITIES.
Tenant shall pay directly to the utility companies providing such services, the cost of all water, gas, heat, light, power, sewer, electricity,
telephone or other service metered, chargeable or provided to the Premises. Landlord shall not be liable in damages or otherwise for any failure
or interruption of any utility or other service furnished to the Premises. No such failure or interruption shall entitle Tenant to terminate this
Lease or abate rent in any manner.
13. MAINTENANCE.
(a) PERFORMANCE BY TENANT. Except as provided below, Tenant shall maintain and repair the premises in good condition, including,
without limitation, maintaining and repairing all walls; floors; ceilings; telephone equipment and wiring; doors exterior and interior windows
and fixtures as wells damage caused by Tenant, its agents, contractors, employees or invites. Upon expiration or termination of this Lease,
Tenant shall surrender the Premises to Landlord in the same condition as existed at the commencement of the Term, except for reasonable wear
and tear or damage caused by fire or other casualty for which Landlord has received all funds necessary for restoration of the Premises from
insurance proceeds.
If Tenant refuses or neglects to repair and maintain the Premises as required hereunder and to the reasonable satisfaction of Landlord. Landlord
may at any time following ten (10) days from the date on which Landlord shall make a written demand on Tenant to effect such repair and
maintenance, enter upon the Premises and make such repairs and/or maintenance without liability to tenant for any loss or damage which might
occur to Tenant's merchandise, fixtures or other property or to Tenant's business by reason thereof, and upon completion thereof, Tenant shall
pay to Landlord, Landlord's costs for making such repairs FIFTEEN PERCENT (15%) overhead, upon presentation of a bill therefor. Said bill
shall include interest at the maximum rate permitted by law on said costs from the date of completion of the maintenance and repairs by
Landlord.
Tenant shall, at its own expense, provide, install and maintain in good condition all of its Personal Property required in the conduct of its
business on the Premises.
(b) PERFORMED BY LANDLORD. (i) Landlord shall be responsible at its own cost and expense to maintain in good condition the structural
part of the Premises, which shall include only the structural beams which support the roof deck and membrance, exterior walls, building
foundations and floors. (ii) In the event that the roof system or existing HVAC equipment suffers major failure during the term hereof,
Landlord shall replace or repair same, and the cost thereof shall be amortized on monthly basis over the expected useful life or the repair or
replacement, and Lessee, as an item of Addition Rent, shall pay to Landlord on a monthly basis for the portion of such amortized cost which
shall accrue during the remaining term hereof. Subject to reimbursement by Tenant as hereinafter provided, Landlord shall be responsible to
maintain, in good condition the roof system and skylights; the paved and hardscaped parking and driveway areas (including resurfacing and
restriping); gutters and downspouts on the Building; the heating, ventilating and air condition system servicing the Premises; landscaping
(including replacement thereof), sprinkler system, walkways, parking areas AND EXTERIOR PAINTING (PERFORMED NOT MORE
THAN ONCE DURING ANY FIVE YEAR INTERVAL).
(c) REIMBURSEMENT BY TENANT. Prior to the commencement of each calendar year, Landlord shall give Tenant a written estimate of the
expenses Landlord anticipates will be incurred for the ensuing calendar year with respect to the maintenance and repair to be performed by
Landlord as herein described (the "Maintenance Expenses"). Tenant shall pay, as additional rent, such estimated expenses is equal monthly
installments in advance on or before the first day of each month concurrent with its payment of Monthly Rent. Within ninety (90) days after the
end of each calendar year, Landlord shall furnish Tenant a statement showing in reasonable detail the actual expenses incurred for the period in
question and the parties shall within thirty (30) days thereafter make payment or allowance as necessary to adjust Tenant's estimated payments
to the actual expenses as shown by applicable periodic statements submitted by Landlord. If Landlord shall determine at any time that the
estimate of expenses for the current calendar year is or will become inadequate to meet all such expenses for any reason, Landlord shall
immediately determine the appropriate amount of such inadequacy and issue a supplemental estimate as to such expenses, and Tenant shall pay