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<br />City of Sunny Isles Beach |Request for Proposal No. 22-09-01 21
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<br />as a late charge (the "Late Charge"). Landlord and Tenant agree that the Late Charge represents a fair and
<br />reasonable estimate of the costs that Landlord will incur by reason of any such late payment by Tenant.
<br />Acceptance of the Late Charge by Landlord shall not constitute a waiver of Tenant's default with respect to
<br />the overdue amount, nor prevent Landlord from exercising any other rights and remedies available to
<br />Landlord under this Lease.
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<br />2.17 INTEREST ON OVERDUE AMOUNTS:
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<br />Landlord shall be entitled to collect interest at the rate of 18% from the date any sum is due to Landlord
<br />until the date paid on any amounts that are not paid within ten (10) days of their due date under this Lease.
<br />The right of Landlord to require payment of such interest and the obligation of Tenant to pay same shall be
<br />deemed to be Additional Rent and shall not be in lieu of the right of Landlord to enforce other provisions in
<br />this Lease and to pursue other remedies provided by law.
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<br />2.18 NET LEASE:
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<br />This Lease is what is commonly called a "triple net lease," it being understood that Landlord shall receive
<br />the Base Monthly Rent free and clear of any and all Taxes, other Impositions, liens, charges, or expenses of
<br />any nature whatsoever incurred in connection with the ownership and operation of the Premises.
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<br /> 2.19 PAYMENT OF TAXES:
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<br />As used herein, the term "Taxes" shall include:
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<br />2.19.1 any form of real estate tax or assessment, ad valorem tax or gross receipts tax, imposed by any
<br />authority having the direct or indirect power to tax, including any city, county, state, or federal government,
<br />or any school, agricultural, sanitary, fire, street, drainage, or other improvement district thereof, on, against
<br />or with respect to the Premises, this Lease, any legal or equitable interest of Landlord or any superior
<br />landlord in the Premises or in the real property of which the Premises are a part, Landlord's right to rent or
<br />other income therefrom, and Landlord's business of leasing the Premises;
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<br />2.19.2 any tax, fee, levy, assessment, penalty, interest or other charge (i) in substitution of, partially or
<br />totally, any tax, fee, levy, assessment, or charge hereinabove included within this definition of Taxes, or (ii)
<br />any tax or increase in any tax which is imposed as a result of a transfer, either partial or total, of Landlord's
<br />interest in the Premises to Tenant, or (iii) which is imposed by reason of this transaction, any modifications
<br />or changes hereto, or any transfers hereof; and
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<br />2.19.3 all inspection fees, taxes, bonds, permits, certificates, assessments and sales, use, property or
<br />other taxes, fees or tolls of any nature whatsoever (together with any related interest or penalties) now or
<br />hereafter imposed against Landlord or Tenant by any federal, state, county or local governmental authority
<br />upon or with respect to the Premises or the use thereof or upon the possession, leasing, use, operation or
<br />other disposition thereof or upon the rents, receipts or earnings arising therefrom or upon or with respect
<br />to this Lease; and
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