2.206 Real Estate Tax Protest.
Tenant waives all rights pursuant to applicable Law to protest appraised values or receive notice of reappraisal regarding the Property (including Landlord’s personalty), irrespective of whether
Landlord contests same.
SECTION 2.3 RENT DEFINED AND NO OFFSETS.
Basic Annual Rent, Additional Rent and all other sums (whether or not expressly designated as rent) required to be paid to Landlord by Tenant under this Lease (including, without limitation, any sums
payable to Landlord under any addendum, exhibit, rider or schedule attached hereto) shall constitute rent and are sometimes collectively referred to as “Rent”. Each payment of Rent shall be paid by Tenant when due, without prior
demand therefor and without deduction or setoff except as expressly set forth in this Lease.
SECTION 2.4 LATE CHARGES.
If any installment of Basic Annual Rent or Additional Rent or any other payment of Rent under this Lease shall not be paid when due, a “Late
Charge” of four cents ($.04) per dollar so overdue may be charged by Landlord to defray Landlord’s administrative expense incident to the handling of such overdue payments. Each Late Charge shall be payable on demand. Notwithstanding
the foregoing, Landlord shall not impose a Late Charge against Tenant for the first time in any Lease Year Tenant fails to pay any amount when due under this Lease, provided such amount is paid within five (5) days after notice from Landlord
that the same is overdue.
ARTICLE 3 — SECURITY DEPOSIT
Tenant will pay Landlord on the date this Lease is executed by Tenant the Security Deposit set forth in Item 11 of the Basic Lease Provisions as security for the performance of the terms hereof by
Tenant. Landlord shall deposit the Security Deposit into a segregated money market or savings account with a national banking association or a bank chartered with the Texas Department of Banking, but Tenant shall not be entitled to interest thereon.
Landlord may not commingle such Security Deposit with any other funds of Landlord. The Security Deposit shall not be considered an advance payment of rental or a measure of Landlord’s damages in case of default by Tenant. If Tenant defaults
beyond any applicable notice and cure periods with respect to any provision of this Lease, Landlord may, but shall not be required to, from time to time, without prejudice to any other remedy, use, apply or retain all or any part of this Security
Deposit for the payment of any Rent or any other sum in default or for the payment of any other actual, reasonable out-of-pocket amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate
Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default, including, without limitation, actual and reasonable out-of-pocket costs and actual and reasonable attorneys’ fees incurred by Landlord to
recover possession of the Premises. If Landlord ever uses, applies or retains all or any portion of the Security Deposit pursuant to the preceding sentence, Tenant will, within ten (10) days after receipt of a written demand from Landlord,
deliver to Landlord an amount which will increase the balance of the Security Deposit to its original level. The Security Deposit, or so much thereof, if any, as shall not have been applied by Landlord in accordance with the terms of this Article 3,
shall be returned to Tenant within sixty (60) days after the Expiration Date. Tenant agrees that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as the Security Deposit and that Landlord and its
successors and assigns shall not be bound by any such actual or attempted assignment or encumbrance. Regardless of any assignment of this Lease by Tenant, Landlord may return the Security Deposit to the original Tenant, in the absence of evidence
satisfactory to Landlord of an assignment of the right to receive the Security Deposit or any part of the balance thereof. To the fullest extent permitted by applicable law, Tenant agrees that the provisions of this Article 3 shall supersede and
replace all statutory rights under applicable law regarding the retention, application or return of security deposits.
Renaissance Tower/
Priority Fulfillment Services, Inc.
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