Reso 2011-1749 - Laserfiche WebLink

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Year. Tenant shall make rent payment during the Term hereof to the following address: City of Sunny Isles Beach, Florida, Attn: Finance Director, 18070 Collins Avenue, Sunny Isles Beach, Fl 33160 or at such other place as Landlord may from time to time direct by written notice to Tenant. For purposes of this section, Lease Year means a twelve (12) consecutive month period, regardless of whether the Acceptable Vendor pays rent during the entire Lease Year. The first Lease Year shall begin on the date of execution of sublease or lease. Each succeeding Lease Year shall commence upon the anniversary date of the first Lease Year. Notwithstanding the foregoing, no Rent is due to Landlord if the Premises are not leased to an Acceptable Vendor(s). For purposes of this section, Rent shall mean any monies paid to Tenant by the Acceptable Vendor for the usage of the Premises, including without limitation, the amount of contract rent paid by Acceptable Vendors to Tenant, inclusive of any interior or exterior space and comparable to the market rate of rents charged in northeast Miami-Dade County. Rent shall further include all amounts received from a valet parking concession if any and any other income derived by the Tenant from the Acceptable Vendor in the form of fees or other charges. Gross Rent or Rent does not include any sums paid by Tenant to a governmental authority for real estate property taxes and Tenant may deduct real estate property taxes from Gross Rent paid by Acceptable Vendor(s). Tenant may appeal to the Landlord to exclude other expenses incurred exclusively by Tenant from the definition of Gross Rent. It is the intention of the parties hereto that it is the obligation of Tenant to contract with third parties to sublease all of the available space on the Premises, subject to Landlord approval and to pay to the Landlord thirty percent (30%) of all amounts paid to Tenant, directly or indirectly, as rent, fees and other charges for the usage of the Premises. Under no circumstances will the sub-leasing, assignment or any other transfer of the Lease interest by the Tenant result in any reduction of Rent due to the Landlord. Section 2 Audit Rights. Tenant shall maintain books and records of all monies collected by it related to the usage and rental of the Premises and the operating costs thereof, and shall permit Landlord to audit Tenant's books and records for any annual period upon ten (10) days prior written notice. If Landlord elects to audit such books and records, Tenant shall reasonably cooperate with Landlord, and any deficiency or overpayment disclosed by such audit shall be promptly paid or refunded as the case may be. If any such audit discloses that the Rent paid hereunder was understated by more than five percent (5%) of the actual Rent collected, Tenant shall reimburse Landlord for the reasonable costs of such audit and further pay interest cost on any monies owed pursuant to statutory interest rate set forth in Section 55.03, Florida Statutes or 7% effective APR whichever is greater. The audit rights described in this Section 11(2) is a material inducement for Landlord to enter into this Lease. Section 3. Sales Tax. If at any time during the Term, under the laws of the State of Florida or a political subdivision thereof, a tax or excise on rents or other tax (other than a general income tax), however described, is levied or assessed by said state or a political subdivision thereof against Landlord or on the Rent (as hereinafter defined), unless constituting or in substitution for an income tax of general application, Tenant covenants to pay and discharge such tax or excise on rents or other tax before any fine, penalty, interest, or cost may be added thereto for the nonpayment thereof, provided that Tenant shall not be in default for failing to pay such tax until thirty (30) days shall have expired from the date on which Landlord notified Tenant of the tax or on the date Tenant otherwise learns of the tax, whichever is earlier, and Tenant shall not be responsible for penalties, interests or costs accruing at any time or times prior 4