1981-12-16 Regular Meeting - Laserfiche WebLink

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. ~ ~~ • • -2- III. Monthly payments on this Agreement are due and payable on the 1st day of each calendar month, as aforesaid. In the event any such payment is not paid within ten (10) days of its due date, a penalty of four per cent (4$) of the monthly payment shall be added. IV. Failure to pay any one or more installments of rent, when due, or within fifteen (15) days after the same shall become due, shall terminate this lease, at the option of the LESSOR. V. • LESSEE agrees to obtain and maintain at its sole cost and expense, public liability insurance and property damage insurance to protect LESSOR and LESSEE against all loss or damage from the claims of all persons who may be in or on the leased premises by the invitation, consent or sufferance of LESSEE. Such public liability insurance shall have minimum bodily injury limits of $100,000 for each person and $300,000 for each accident, with respect to any accident occurring on the leased premises. LESSEE shall furnish LESSOR certificates of all insurance coverage. VI. The permitted use of the demised premises is for a parking lot. VII. • LESSOR shall be responsible for the maintenance to the parking lot. VIII. In case of default of any of the aforesaid covenants, LESSOR may enforce the performance thereof in any modes provided by law, and may declare the lease forfeited at its discretion, and LESSOR, its agents or attorneys, shall have the right, without further notice or demand, • to re-enter and remove all persons therefrom without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of rent or breach of covenant, or LESSOR, its agents or