Common Area Maintenance and Repair Costs

Common Area Maintenance and Repair Costs. The term "Common Area Maintenance and Repair Costs " shall mean all commercially reasonable costs of maintaining and repairing, including the cost of any maintenance or service contract, the Building's water, sewer, ventilating and air-conditioning systems (unless such system only serves the Premises, or any part thereof, in which event Lessee shall maintain said system), common entryways, doors and passage ways, the plumbing and sewer system and sewer lines which extend from the Premises and... the Building, the grounds surrounding the Building (including landscaping whether located adjacent to the Building or elsewhere on the parcel on which the Building is located), the parking areas and driveways and the Common Roadway (including but not limited to the resealing, re-striping and re-paving of all such areas and filling in pot holes), fences, the drain and gutter pipes at the roof level, and all other Common Areas. Such term shall also include the cost of washing the exterior walls or painting or repairing such walls for the purpose of removing any graffiti which may appear thereon and management fee of three and three quarters percent (3.75%) of the Base Monthly Rent each month during the term of this Lease if John C. Nickel should die or become incapacitated to the extent he cannot reasonably manage the Building or if the Building is sold. View More

Common Area Maintenance and Repair Costs. The term "Common Area Maintenance and Repair Costs" shall mean all commercially reasonable costs of maintaining and repairing, including the cost of any maintenance or service contract, the Building's water, sewer, ventilating and air-conditioning systems (unless such system only serves the Premises, or any part thereof, in which event Lessee shall maintain said system), common entryways, doors and passage ways, the plumbing and sewer system and sewer lines which extend from the Premises and... the Building, the grounds surrounding the Building (including landscaping whether located adjacent to the Building or elsewhere on the parcel on which the Building is located), the parking areas and driveways and the Common Roadway (including but not limited to the re-paving of all such areas and filling in pot holes), fences, the drain and gutter pipes at the roof level, and all other common areas. Such term shall also include the cost of washing the exterior walls or painting or repairing such walls for the purpose of removing any graffiti which may appear thereon. Such term shall also include the cost of any needed replacements of such equipment or systems or any other replacements or capital improvements. With regard to items which are capital improvements, Lessor shall determine what replacements shall constitute a capital improvement and any such costs shall be amortized over the useful life of the improvement, which Lessor shall determine in its discretion, together with interest on the unamortized balance at the rate of 10% per annum if Lessor has used its own funds or the interest rate as may have been paid by Lessor on funds borrowed for the purpose of constructing or installing such replacements or improvements, and Lessee shall only be obligated to pay, each month during the remaider of the Term, or any extension thereof, on the date that on which Rent is due, an amount equal to Lessee's Share of 1/the amortization period of the useful life of such improvement. ii. Common Area Maintenance and Repair Costs shall not include the following: (a) The cost of installing, operating and maintaining any specialty service, such as daycare, cafeteria, athletic or recreational club; (b) The cost of any work or service performed for any tenant of the Building (other than Lessee) to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants (including Lessee); (c) The cost of any repairs, alterations, additions, changes, replacements and other items which are made in order to prepare for a new tenant's occupancy unless any such cost is required because of Alterations undertaken to the Premises by Lessee; (d) The cost of any repair in accordance with the casualty and condemnation sections of this Lease, except for deductibles under any insurance policy carried by Lessor; (e) Any costs representing an amount paid to a corporation related to Lessor which is in excess of the amount which would have been paid in the absence of such relationship; (f) Interest and penalties due to late payment of any amounts owed by Lessor, except such as may be incurred as a result of Lessee's failure to timely pay Lessee's Percentage Share of Real Property Taxes, Insurance premiums or Common Area Maintenance and Repair Costs; (g) Costs related to the existence and maintenance of Lessor as a legal entity, except to the extent attributable to the operation and management of the Premises or Building; iii. Audit Right. Lessee, at its sole cost and expense shall have the right during business hours to examine and/or audit the books and documents evidencing the Common Area Maintenance and Repair Costs for both the Building and the Common Roadway once every calendar year. Lessee at Lessee's sole cost may also have the records maintained by Lessor for the Common Area Maintenance and Repair Costs audited by a reputable certified public accountant once every calendar year. If any such audit should disclose that Lessee has been overcharged by Lessor for Lessee's Percentage Share of Common Area Maintenance and Repair Costs for the Building or Lessee's Common Area Maintenance and Repair Costs for the Common Roadway for any year, Lessee shall be credited for such overpayment, plus interest at the rate of 10% per annum. If such audit should disclose that Lessee has been undercharged by Lessor for any year, then Lessee shall pay to Lessor all such undercharged amounts within thirty (30) days with interest thereon at 10% per annum. If the amount of any overcharge for the combined total of Lessee's Percentage Share of Common Area Maintenance and Repair Costs and maintaining the Common Roadway exceeds ten percent (10%) of Lessee's Percentage Share of Common Area Maintenance Costs and the cost of maintaining the Common Roadway for that year, Lessor shall promptly reimburse Lessee for the reasonable costs of such audit. The provisions of this Paragraph 1E (2) shall survive the expiration or earlier termination of this Lease. View More