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- (v) In the event Landlord desires to audit the reports of Net Sales submitted by Tenant (not to exceed one (1) time per year) Landlord shall have the right to cause its auditors to audit all books and records, wherever located, pertaining to sales made in or upon the demised premises. Tenant shall promptly pay to Landlord any deficiency or Landlord shall promptly refund to Tenant any overpayment, as the case may be, which is established by such audit. 2.2.3 Admission Fee Percentage. The management of the Pier and collection of admission fees is optional. However, if previously agreed to by Tenant in response to the Landlord's Request for Proposal, Tenant shall remit to Landlord the agreed upon percentage of the Pier admission fees collected by Tenant during the Lease Term and any subsequent renewal periods. 2.2.4 Bait/Gift Shop Revenue Percentage. The management of the Bait and Gift shop is optional. However, if previously agreed to by Tenant in response to the Landlord's Request for Proposal, Tenant shall remit to Landlord the agreed upon percentage of the net sales of bait/gift shop item fees collected by Tenant during the Lease Term and any subsequent renewal periods. 2.3 Impositions. In addition to the Rent, Tenant shall pay to the parties respectively entitled thereto all impositions, insurance premiums and Taxes (as defined in Article 4), (collectively, the "Impositions"). If any such Impositions are allocated to Tenant, rather than charged directly against Tenant or the demised premises, Landlord shall provide Tenant with such support for such charges as Tenant may reasonably request. Tenant shall furnish to Landlord, promptly upon request of Landlord official receipts or other satisfactory proof evidencing payment of such Impositions. 2.4 Late Charge. If any installment of the Base Minimum Rent, any Imposition or any other payment provided for under this Lease which is payable by Tenant is not received by Landlord within five (5) days after notice, Tenant shall immediately pay Landlord the amount of Five Hundred ($500) Dollars as a late charge (the "Late Charge"). Landlord and Tenant agree that the Late Charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment by Tenant. Acceptance of the Late Charge by Landlord shall not constitute a waiver of Tenant's default with respect to the overdue amount, nor prevent Landlord from exercising any other rights and remedies available to Landlord under this Lease. 2.5 Interest on Overdue Amounts. The Basic Monthly Rent and all other amounts due Landlord under this Lease which are not paid when due shall bear interest at a per annum rate equal to the "federal funds rate" (or substantial equivalent) announced from time to time (as adjusted monthly) plus two percent (2%), from the date due until paid; provided, however, that if such rate shall exceed the lawful rate of interest which Landlord is entitled to charge under applicable law, then the per annum rate of interest on any such overdue amounts shall be the maximum rate permitted by applicable law. 4