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LEASE - Page iw?elva
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with a true copy oL all ~ac~rtc;a.;~~s, r.;ortgag:~ r.o~~~s, ::v~:ifica- ~
tions and amendments 1~l:Lr`to, and loan ~ii'to~ tizatio:z :C?:(:C::11~:5
relating to any and all mortgages on the lca~ed premises.
Lessee covenants to provide Lessor annually with a
copy of Lessee's certified a4dit report of tae Note? and
all other commercial enterprises operatiny^ iro:~ the leased
premises, certified in accordance with generally accented
accounting principles and in accordance wi'._h tY:e requirements
of this Lease.
XIV.
S~CURITI'
Lessee has paic: to Lessor, at the signin5 0 this
Lease 1lgreement, the acu-~ o~ Fifty Thousand Dollars
($50,000.00) in cash which su:~ ti•~iil be he lc: by Lessor as
security during t~~e ter; o~ this Lease, buy L~~sscr s::all
be unrestricted in its use or said securi ~ieposi ~ during
tre term of this Lease. In the event o~ de~au~~ o= Lessee
or in the event of ter: ~ination of this Lea,c nor any
~ reason other than expiration of the term of years provides:
~ for herein, said sum shall bo forfeited to Lessor and shall
become, and remain, the property of Lessor; oa the other
hand, if this Lease does run its entire terra: ar.3 lapses
by expiration of time then, in that event, t..:e ~ i~ty ^rou-
sand Dollars ($50,000.00) shall be applied, by Lessor, for
payment of the final rentals due Lessor under this Lease
or any renewal terms , provided that Lessee ham, s co:rplied
with all covenants unde.: this Lease . During tno ter.,.
o` this Lease, and anI rener~als hereof, no int~r.•s~ on
said security deposit s,:all be paid by Lesser to Lessee.
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OR .
aa~K320 PacE 473 i _