Common use of INCREASES IN OPERATING EXPENSES Clause in Contracts

INCREASES IN OPERATING EXPENSES. It is mutually agreed that the calculation of the actual annual increase in the Operating Expenses for each Individual Unit of the John Wayne Executive Guild Project is ▇▇▇▇▇▇▇▇▇, costly, and time consuming. Therefore, in lieu of Tenant paying the actual increase in the Operating Expenses, Tenant shall pay, as "Additional Rent", at the same time as Base Rent, an amount equal to the increase, if any, in the Consumer Price Index ("CPI") for the Greater Los Angeles, Anaheim, Riverside (California) areas, in an amount not less than one percent (1%) per annum nor greater than three percent (3%) per annum, times the then current Base Rent amount. Security Deposit: $7,000.00. Landlord hereby acknowledges prior receipt of a total of $18,000.00 as Security Deposits from Tenant. By mutual agreement, $6,000.00 has been utilized as a credit to Tenant's Outstanding Balance and $5,000.00 as a Security Deposit for an additional Lease contract for space (Suite K-103) being concurrently occupied by Tenant. The remaining amount of $7,000.00 shall be utilized as a Security Deposit for Suite P-3. ///

INCREASES IN OPERATING EXPENSES. It is mutually agreed that the calculation of the actual annual increase in the Operating Expenses for each Individual Unit of the John Wayne Executive Guild Project is ▇d▇▇▇▇▇▇▇▇, costly, and time consuming. Therefore, in lieu of Tenant paying the actual increase in the Operating Expenses, Tenant shall pay, as "Additional Rent", at the same time as Base Rent, an amount equal to the increase, if any, in the Consumer Price Index ("CPI") for the Greater Los Angeles, Anaheim, Riverside (California) areas, in an amount not less than one percent (1%) per annum nor greater than three percent (3%) per annum, times the then current Base Rent amount. Security Deposit: $7,000.005,000.00. Landlord hereby acknowledges prior receipt of a total of $18,000.00 as Security Deposits from Tenant. By mutual agreement, $6,000.00 has been utilized as a credit to Tenant's Outstanding Balance and $5,000.00 7,000.00 as a Security Deposit for an additional Lease contract for space (Suite K-103P-3) being concurrently occupied by Tenant. The remaining amount of $7,000.00 5,000.00 shall be utilized as a Security Deposit for Suite P-3K-103. ///