RFP # 22-09-01 RESTAURANT LEASE AND OPERATIONS FACILITY AT 18050 COLLINS AVE

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City of Sunny Isles Beach |Request for Proposal No. 22-09-01 19 Should the Lease Term commence on a day other than the first day of a calendar month, then the rental for such first fractional month shall be computed on a daily basis for the period from the Commencement Date to the end of such calendar month at an amount equal to 1/30th of the Base Monthly Rent for each day. Should the Lease Term end on a day other than the last day of a calendar month, then the rental for such fractional month shall be computed on a daily basis at an amount equal to 1/30th of the Base Monthly Rent for each day. Tenant shall pay Landlord the Base Monthly Rent in lawful money of the United States without deduction, setoff or counterclaim. Rent shall be made payable to the City of Sunny Isles Beach C/O the City's Finance Department located at 18070 Collins Avenue, Sunny Isles Beach, FL 33160. Base Monthly Rent shall be subject to annual increases in the Consumer Price Index ("CPI') on the first day of the month of every year anniversary of the Lease Term and such revised amount shall be referred to herein as the Base Monthly Rent. The sum so calculated shall constitute the new monthly Base Monthly Rent until the following Rent Adjustment Period. In no event shall such new monthly Base Monthly Rent be less than the Base Monthly Rent for the prior Rent Adjustment Period or represent an increase of more than five percent (5%) from the Base Monthly Rent of the prior Rent Adjustment Period. "CPI” as used herein, shall mean the Consumer Price Index for All urban Custom, U.S. City Average {1982- 84=100 unless otherwise noted]} published by the United States Department of Labor, Bureau of Labor Statistics, or such equivalent index as may hereafter be published. If the Consumer Price Index is discontinued or revised during the Lease year immediately preceding an adjustment date, such other government index or computation with which it is replaced shall be used to obtain substantially the same results as would be obtained if the Consumer Price Index had not been so discontinued or revised. For purposes of computing the percentage increase in the CPI for any applicable period, the CPI for the month nearest the commencement and expiration dates of the applicable Term shall be used. 2.15 PERCENTAGE RENT: (i) In addition to the Base Monthly Rent, Tenant shall pay to Landlord Percentage Rent equal to the amount by which of the proposed and negotiated percentage of all Net Sales (as hereinafter defined) during each full or partial calendar year exceed the total annual Base Rent provided under Paragraph 2.14, herein, for such year. Percentage Rent of Tenant's Net Sales for the lease quarter shall be payable on a quarterly basis during the calendar year, on or before the thirtieth (30th) day of the month following the end of each quarter. (ii) The term "Net Sales" as used in this Lease shall include the entire gross receipts of every kind and nature from the sales and services made in, upon, or from (e.g. catering services) the premises, and promotional events, whether upon credit, for cash or credit; excepting therefrom sales and similar taxes attributable to such sales which are charged to and collected from the customer, customer discounts, refunds, voids, all complimentary or promotional meals, and all meals of employees, management or corporate personnel attendant to the extent no money is received for any of them.