Financial- Vandermay Law Firm (Previous Tenant)

Home Browse Search

_.~ . .._ ~.. E ~- .~ o F' I ~ ~ ~ ~~~ OFFICE LEASE ~4p r.l ~ This lease, made and entered into at Salem, Oregon, this _J~ day of-PdlarcFr, 1997, by and between: LANDLORD: University Station Professional Center, LLC TENANT: Monty K. VanderMay Landlord hereby leases to Tenant the following: Second floor suite measuring approximately 4,269 square feet of useable office space, in addition to Tenant's common area allocation of approximately 395 square feet (the "Premises") at University Station Professional Center (the "Building") at 698 - 12th Street, S.E., Salem, Oregon, for a term commencing April 1, 1997, and continuing through April 30, 2003, at a Monthly Base Rental as follows: S 1.46 per square foot, per month, for exclusive useable space and 5.42 per square foot, per month for the common area allocation. ~ Total ` ~monthly rent, first year at 56,398.64. Rent is payable in advance on the 1 st day of each month, commencing May 1, 1997, or the first of the month following possession of the Premises, whichever is later. 1.1 Delivery of Possession. Landlord and Tenant covenant and agree as follows: Should Landlord be unable to deliver possession of the Premises on the date fixed for the commencement of the term, commencement will be deferred and Tenant shall owe no rent until the first of the month following notice from Landlord tendering possession to Tenant. If possession is not so tendered within 90 days following commencement of the term, then Tenant may elect to cancel this lease by notice to Landlord within 10 days following expiration of the 90-day period. Landlord shall have no liability to Tenant for delay in delivering possession, nor shall such delay extend the term of this lease in any manner. 2.1 Rent Payment. Tenant shall pay the Base Rent for the Premises and any additional rent provided herein without deduction or offset. Rent for any partial month during the lease term shall be prorated to reflect the number of days during the month that Tenant occupies the Premises. Additional rent means amounts determined under Section 22 of this lease and any other sums payable by Tenant to Landlord under this lease. Rent not paid when due shall bear interest at the rate of one-and-one-half percent per month until paid. Landlord may, at its option, impose a late charge of S.05 for each S1.00 of rent for rent payments made more than 10 days late in lieu of interest for the first month of delinquency, without waiving any other remedies available for default. Failure to impose a late charge shall not be a waiver of Landlord's rights hereunder. 3.1 Lease Consideration. Upon commencement of the lease, Tenant will pay the Base Rent for the first full month of the lease term. Consideration which rent is payable and in addition has paid the sum of 50.00 as lease consideration. Landlord may apply the lease consideration to pay the cost Page 1- OFFICE LEASE Lessor Lessee: ~~ JDV~VANDERMA.USP