Example ContractsClausescommon area maintenanceVariants
Remove:

[[Organization B:Organization]] authorizes [[Organization A:Organization]] to use the funds deposited by [[Organization B:Organization]] with [[Organization A:Organization]] under this Article to pay the Common Area Maintenance. The initial Common Area Maintenance Payment is based upon [[Organization B:Organization]]'s proportionate share of the estimated amount of Common Area Maintenance costs for the year of the execution of this Lease, and such monthly Common Area Maintenance Payment is subject to increase or decrease as determined by [[Organization A:Organization]] to reflect an accurate monthly payment of [[Organization B:Organization]]'s estimated proportionate share of the Common Area Maintenance charges. [[Organization B:Organization]]'s Common Area Maintenance Payments shall be reconciled annually. If [[Organization B:Organization]]'s total annual Common Area Maintenance Payments are less than [[Organization B:Organization]]'s actual pro rata share of the Common Area Maintenance Payments, [[Organization B:Organization]] shall pay to [[Organization A:Organization]] upon demand the difference. If the total annual Common Area Maintenance charges are more than [[Organization B:Organization]]'s actual pro rata share of the Common Area Maintenance charges, [[Organization A:Organization]] shall retain such excess and credit it to future Common Area Maintenance Payments due from [[Organization B:Organization]]. [[Organization B:Organization]]'s proportionate share of the Common Area Maintenance Payments shall be computed by multiplying the Common Area Maintenance charges by a fraction, the numerator of which shall be the number of square feet of floor area in the Demised Premises and the denominator of which shall be the number of gross leasable square feet of the property, as may be determined from time to time by the [[Organization A:Organization]].

[[Organization B:Organization]] authorizes [[Organization A:Organization]] to use the funds deposited by [[Organization B:Organization]] with [[Organization A:Organization]] under this Articleagrees to pay as additional rent each month during the Common Area Maintenance. The initial Common Area Maintenance Payment is based upon [[Organization B:Organization]]'s proportionate share of the estimated amount of Common Area Maintenance costs for the year of the executionterm of this Lease, and such monthly Common Area Maintenance Payment is subject to increase or decrease as determined by [[Organization A:Organization]] to reflect an accurate monthly paymentpart of [[Organization B:Organization]]'s estimatedits "monthly payment", 20% its proportionate share of the Common Area Maintenance charges.Charge as estimated in Article I, [Section 1.1(j)], and more fully described herein. Each such monthly Common Area Maintenance Payment shall be due and payable at the same time and in the same manner as the payment of Minimum Guaranteed Rental. The Common Area Maintenance Charge shall include the cost of managing, operating and maintaining the Common Area (including, among other costs, a management fee at 3% of net lease, those costs incurred for lighting, heating, air conditioning, water, sewerage, painting, cleaning, policing, insuring, inspecting, paving, signage and interior common areas (if any) including restrooms, corridors and elevators, and of all exterior gutters and downspouts, exterior building appliances and common electrical, landscaping, exterior irrigation, repairing, replacing, guarding and protecting) which may be incurred by [[Organization A:Organization]] in its sole discretion. The proportionate share to be paid by [[Organization B:Organization]]'s Common Area Maintenance Payments shall be reconciled annually. If [[Organization B:Organization]]'s total annual Common Area Maintenance Payments are less than [[Organization B:Organization]]'s actual pro rata share of the cost of operation and maintenance of the Common Area Maintenance Payments, [[Organization B:Organization]] shall pay to [[Organization A:Organization]] upon demand the difference. If the total annual Common(the "Common Area Maintenance charges are more than [[Organization B:Organization]]'s actual pro rata share of the Common Area Maintenance charges, [[Organization A:Organization]] shall retain such excess and credit it to future Common Area Maintenance Payments due from [[Organization B:Organization]]. [[Organization B:Organization]]'s proportionate share of the Common Area Maintenance PaymentsCharge") shall be computed by multiplyingon the Common Area Maintenance charges by a fraction,ratio that the numeratortotal area of which shall be the number of square feet of floor area in the Demised Premises andbears to the denominator of which shall be the number of gross leasable square feetarea of the property, as such gross leasable area may be determined from time to time by thein [[Organization A:Organization]]'s sole discretion. [[Organization A:Organization]] shall make monthly or other periodic charges based upon the estimated annual costs as herein defined, payable in advance subject to adjustment after the end of the year on the basis of the actual cost for such year. Any such periodic charges shall be due and payable upon delivery of notice thereof. The initial Common Area Maintenance Charge subject to adjustment as provided herein, shall be that amount set out in Article I, [Section 1.1(j)] and may be amended as above and subject to adjustments set out in [Section 4.3].

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.