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PERIOD
<br />ANNUAL RENT
<br />MONTHLY RENT
<br />First Lease Year
<br />$525,000.00
<br />$43,750.00
<br />Second Lease Year
<br />$535,500.00
<br />$44,625.00
<br />Third Lease Year
<br />$546,210.00
<br />$45,517.50
<br />Fourth Lease Year
<br />$557,134.20
<br />$46,427.85
<br />Fifth Lease Year
<br />$568,276.88
<br />$47,356.41
<br />Sixth Lease Year
<br />$579,642.42
<br />$48,303.54
<br />Seventh Lease Year
<br />$591,235.27
<br />$49,269.61
<br />Eighth Lease Year
<br />$603,059.98
<br />$50,255.00
<br />Ninth Lease Year
<br />$615,121.18
<br />$51,260.10
<br />Tenth Lease Year
<br />$627,423.60
<br />$52,285.30
<br />Also beginning on the Commencement Date, Tenant shall pay all other sums due under this
<br />Lease as set forth herein ("Additional Rent"). Monthly Rent and Additional Rent are herein
<br />collectively referred to as "Rent".
<br />2.2 Payment of Rent. Monthly Rent shall be paid by Automatic Clearing House
<br />(ACH) electronic payments in immediately available funds in lawful currency of the United
<br />States of America. Monthly Rent owing to Landlord hereunder shall be paid by Tenant without
<br />notice, demand, set-off, or abatement of any kind.
<br />2.3 Default Rate. Rent or other amounts not paid to Landlord when due shall bear
<br />interest from the date when due and payable under the terms hereof until the same is paid at the
<br />rate per annum (the "Default Rate") equal to the rate of 8% per annum. If Tenant does not pay
<br />Additional Rent when due, Tenant shall be in default as set forth in Article 11, but the Default
<br />Rate shall not apply to such unpaid sums unless such sums are owed to Landlord, in which case
<br />the Default Rate shall apply beginning on the date when such payment was owed to Landlord.
<br />Neither the accrual of interest at the Default Rate, nor Tenant's payment thereof, will be deemed
<br />to grant Tenant any extension or grace period in which to pay the Rent as and when due under
<br />this Lease.
<br />2.4 Net Lease. This Lease is what is commonly called a "bondable net lease", it
<br />being understood that Tenant shall pay the Rent in addition to, and independently of, any and all
<br />other impositions, taxes, assessments, liens, charges or expenses of any nature whatsoever in
<br />connection with the maintenance, repair, replacement and operation of the Premises, all of which
<br />will be paid by Tenant. Tenant shall be solely responsible for and shall pay all impositions,
<br />Taxes (as defined in Article 5), insurance premiums, operating charges, maintenance and the
<br />costs of all charges, Repairs (as defined in Article 8), replacements, landscaping, janitorial costs,
<br />utilities, construction costs, and other charges, costs and expenses (capital or otherwise) which
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