Common use of Net Rent Clause in Contracts

Net Rent. (The phrase "Tenant's proportionate share" shall apply only if Landlord receives a single ▇▇▇▇ for any such items which ▇▇▇▇ covers land buildings or operations of other Tenants otherwise Tenant's share shall be one hundred percent (100%).) Tenant agrees to pay as additional rent, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share of the above common area expenses and insurance monthly by paying one-twelfth the estimated amount with each basic monthly rent installment in a manner similar to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇▇▇▇, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate on the attached site plan (Exhibit "B") those areas which shall be considered "common areas" for the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇▇▇▇ to Landlord within ten (10) days notice from Landlord of the amount of the ▇▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇▇▇▇ to Tenant's property, Tenant may pay said ▇▇▇▇ directly to the Township of ▇▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten (20) days of said payment. Tenant reserves the right to audit any common area expenses and all expenses should be reasonable and customary.

Net Rent. (a) The phrase "Tenant's proportionate share" Tenant shall apply only if pay to the Landlord receives at the Landlord’s Address (or at such other place as the Landlord may designate in writing from time to time), without offset or deduction, beginning on the date hereof and, thereafter, on the first day of each and every calendar month during the Lease Term, the sum of Eighty One Thousand Eight Hundred Twenty Four and 67/100 DOLLARS ($81,824.67) (the “Monthly Net Rent”) which is calculated on the basis of $5.56 per square foot per annum. The Monthly Net Rent is referred to as “Net Rent” herein. If the Term commences or ends during the middle of a single ▇▇▇▇ calendar month, the Monthly Net Rent for any such items which ▇▇▇▇ covers land buildings or operations of other Tenants otherwise Tenant's share partial monthly period shall be one hundred percent (100%).) adjusted on a per diem basis by dividing the Monthly Net Rent by the number of days in the month and multiplying the result by the number of days that the Tenant agrees has occupancy of the Premises during such month. Landlord and Tenant acknowledge and agree that Tenant shall have no obligation to pay Net Rent on any portion of the Premises that have been surrendered to Landlord pursuant to the provisions of Article 2, therefore, the Net Rent payable with respect to any month during the Term following the date Tenant vacates and surrenders the Surrender Space to Landlord will be calculated based on the actual square footage of the Building occupied by Tenant as additional rentof the first day of such month. (b) All charges, promptly costs and sums required to be paid by Tenant to Landlord or third parties for the benefit of the Premises under this Lease in addition to Net Rent shall be deemed “Additional Rent,” and Net Rent and Additional Rent shall hereinafter collectively be referred to as “Rent.” Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. (c) Monthly Net Rent and any Additional Rent due the Landlord are payable on the first day of every calendar month in advance without notice, demand, its proportionate share setoff, counterclaim or deduction of any kind except as provided in this Lease. Additional Rent payable to third parties for the benefit of the Premises is due when such obligation is payable to such third party without the benefit of any grace period or late period. (d) This is intended to be a “triple net lease” with the Net Rent payable to the Landlord, and the Tenant is also obligated to pay Real Estate Taxes (hereinafter defined) as hereinafter provided, and all real estate taxescharges and expenses incurred for the maintenance, common area and repair of the non-structural portions of the Premises, insurance, operating expenses for utilities, services, trash removal, and insurance affecting all other costs of operating the real estate (Premises as specified elsewhere in this Lease which costs shall be paid directly by Tenant or as Additional Rent excluding only the mortgage debts, land and building) of which lease rents or other encumbrances on the leased premises form a partPremises created by the Landlord. It Subject to the specific provisions set forth in Article 8, it is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share all the foregoing costs, expenses, repairs, maintenance, and operating costs during the term hereof no matter when such costs and expenses are incurred during the Term except for such costs and expenses which are expressly the obligation of the above common area Landlord under this Lease. If Landlord pays any of such expenses, the Landlord shall b▇▇▇ Tenant for such expenses and insurance monthly by paying one-twelfth Tenant shall pay Landlord such expenses as Additional Rent. (e) For all Additional Rent expenses, other than Real Estate Taxes (hereinafter defined) on the estimated amount with each basic monthly rent installment in a manner similar Premises, the Landlord agrees that the Tenant may pay such expenses directly to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇▇▇▇, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So vendor providing such services so long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and not in default under this Lease, Tenant provides adequate proof evidence of timely payment of such expenses. If at any time during the term expenses if Landlord requests evidence of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate promptly provide to Landlord duplicate copies of the service contract on the attached site plan (Exhibit "B") those areas heating and air conditioning systems and sprinkler inspection agreement upon Landlord’s written request. All Additional Rent which is not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be considered "common areas" due and payable, (i) if payable to a third party, within the time permitted for the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇▇▇▇ payment without interest, penalty or default, (ii) if payable to Landlord without specific payment terms set forth herein, within ten (10) days notice from Landlord of the amount of the ▇▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇▇▇▇ to Tenant's property, Tenant may pay said ▇▇▇▇ directly to the Township of ▇▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten twenty (20) days of said payment. delivery by Landlord to Tenant reserves of notice to pay the right same, and (iii) if payable to audit any common area expenses and all expenses should be reasonable and customaryLandlord in a specific time or manner set forth herein, in accordance therewith.

Net Rent. (The phrase "“Tenant's ’s proportionate share" ” shall apply only if Landlord receives a single ▇b▇▇▇ for any such items which ▇b▇▇▇ covers land buildings or operations of other Tenants otherwise Tenant's ’s share shall be one hundred percent (100%).) Tenant agrees to pay as additional rent, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share of the above common area expenses and insurance monthly by paying one-twelfth the estimated amount with each basic monthly rent installment in a manner similar to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇b▇▇▇, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's ’s costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate on the attached site plan (Exhibit "“B"”) those areas which shall be considered "“common areas" ” for the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇b▇▇▇ to Landlord within ten (10) days notice from Landlord of the amount of the ▇b▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's ’s portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's ’s portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇b▇▇▇ to Tenant's ’s property, Tenant may pay said ▇b▇▇▇ directly to the Township of ▇H▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten (20) days of said payment. Tenant reserves the right to audit any common area expenses and all expenses should be reasonable and customary.

Net Rent. (The phrase "Tenant's proportionate share" shall apply only if Landlord receives a single ▇▇▇▇ for any such items which ▇▇▇▇ covers land buildings or operations a) As of other Tenants otherwise Tenant's share the Lease Commencement Date, there shall be one hundred percent due and owing from Tenant to Landlord as minimum rent for the Land (100%“Net Rent”) the initial annual amount of Fifty cents ($0.50) per rentable square foot of the MOB. The MOB consist of Sixty-nine Thousand Five Hundred Fourteen (69,514) rentable square feet, and the initial annual Net Rent will be Thirty-four Thousand Seven Hundred Fifty Seven and No/100 Dollars ($34,757.00) or adjusted should the rentable square footage of the MOB change pursuant to and in accordance with the provisions of this Lease. Tenant shall commence paying Net Rent to Landlord, in advance, on the Lease Effective Date. (b) In the event Landlord desires to include in Net Rent the Capital Costs (as defined herein) of any development, planning, construction or reconstruction of any Common Areas, Landlord shall deliver to Tenant written notice (the “Capital Costs Notice”) of the total project cost proposed to be undertaken, together with a description of the project (the “Proposed CA Project”)., a detailed cost breakdown thereof, and Tenant’s CA Improvements Share (as defined herein) of the Capital Costs associated with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over the useful life of the proposed project in accordance with U.S. GAAP, consistently applied, and the amortized portion thereof shall be the amount on which the proposed Tenant’s CA Improvements Share shall be based. With respect to any Proposed CA Project, Tenant shall be entitled to elect whether to participate or not to participate in such Proposed CA Project and Tenant must make such election in writing within fifteen (15) days after Landlord gives Tenant notice of the Proposed CA Project, as described above, provided, however, Tenant must participate in (i.e., may not decline to participate in) any Proposed CA Project which improves the Required Common Areas. If Tenant is required to or agrees to pay as additional rentparticipate in the Proposed CA Project, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share as an increase to Net Rent to Landlord, Tenant’s CA Improvements Share of the above common area expenses total cost to develop, plan, construct and insurance monthly by paying one-twelfth reconstruct the estimated amount with each basic monthly rent installment Common Areas (“Capital Costs”). If Tenant elects not to participate in the Proposed CA Project (or fails to make a manner similar timely election) Landlord, notwithstanding any provision contained in this Lease to the escrow system used by banks in connection with residential mortgages. Annually Landlordcontrary, upon submission of the tax, common area expense may deny Tenant and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇▇▇▇, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole Occupants or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate others on the attached site plan (Exhibit "B") those areas which shall be considered "common areas" for Campus at Tenant’s invitation, form using the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇▇▇▇ to Landlord within ten (10) days notice from Landlord of the amount of the ▇▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇▇▇▇ to Tenant's property, Tenant may pay said ▇▇▇▇ directly to the Township of ▇▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten (20) days of said payment. Tenant reserves the right to audit Proposed CA Project in any common area expenses and all expenses should be reasonable and customaryway.

Net Rent. (a) The phrase "Tenant's proportionate share" Tenant shall apply only if pay to the Landlord receives at the Landlord’s Address (or at such other place as the Landlord may designate in writing from time to time), without offset or deduction, beginning on the date hereof and, thereafter, on the first day of each and every calendar month during the Lease Term, the sum of Eighty One Thousand Eight Hundred Twenty Four and 67/100 DOLLARS ($81,824.67) (the “Monthly Net Rent”) which is calculated on the basis of $5.56 per square foot per annum. The Monthly Net Rent is referred to as “Net Rent” herein. If the Term commences or ends during the middle of a single ▇▇▇▇ calendar month, the Monthly Net Rent for any such items which ▇▇▇▇ covers land buildings or operations of other Tenants otherwise Tenant's share partial monthly period shall be one hundred percent (100%).) adjusted on a per diem basis by dividing the Monthly Net Rent by the number of days in the month and multiplying the result by the number of days that the Tenant agrees has occupancy of the Premises during such month. Landlord and Tenant acknowledge and agree that Tenant shall have no obligation to pay Net Rent on any portion of the Premises that have been surrendered to Landlord pursuant to the provisions of Article 2, therefore, the Net Rent payable with respect to any month during the Term following the date Tenant vacates and surrenders the Surrender Space to Landlord will be calculated based on the actual square footage of the Building occupied by Tenant as additional rentof the first day of such month. (b) All charges, promptly costs and sums required to be paid by Tenant to Landlord or third parties for the benefit of the Premises under this Lease in addition to Net Rent shall be deemed “Additional Rent,” and Net Rent and Additional Rent shall hereinafter collectively be referred to as “Rent.” Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease. (c) Monthly Net Rent and any Additional Rent due the Landlord are payable on the first day of every calendar month in advance without notice, demand, its proportionate share setoff, counterclaim or deduction of any kind except as provided in this Lease. Additional Rent payable to third parties for the benefit of the Premises is due when such obligation is payable to such third party without the benefit of any grace period or late period. (d) This is intended to be a “triple net lease” with the Net Rent payable to the Landlord, and the Tenant is also obligated to pay Real Estate Taxes (hereinafter defined) as hereinafter provided, and all real estate taxescharges and expenses incurred for the maintenance, common area and repair of the non-structural portions of the Premises, insurance, operating expenses for utilities, services, trash removal, and insurance affecting all other costs of operating the real estate (Premises as specified elsewhere in this Lease which costs shall be paid directly by Tenant or as Additional Rent excluding only the mortgage debts, land and building) of which lease rents or other encumbrances on the leased premises form a partPremises created by the Landlord. It Subject to the specific provisions set forth in Article 8, it is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share all the foregoing costs, expenses, repairs, maintenance, and operating costs during the term hereof no matter when such costs and expenses are incurred during the Term except for such costs and expenses which are expressly the obligation of the above common area expenses and insurance monthly by paying one-twelfth Landlord under this Lease. If Landlord pays any of such expenses, the estimated amount with each basic monthly rent installment in a manner similar to the escrow system used by banks in connection with residential mortgages. Annually Landlord, upon submission of the tax, common area expense and insurance bills, Landlord shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇▇▇▇▇ Tenant for such expenses and Tenant shall pay Landlord such expenses as Additional Rent. (e) For all Additional Rent expenses, common area expense bills and insurance billsother than Real Estate Taxes (hereinafter defined) on the Premises, submitted by the Landlord agrees that the Tenant may pay such expenses directly to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So vendor providing such services so long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and not in default under this Lease, Tenant provides adequate proof evidence of timely payment of such expenses. If at any time during the term expenses if Landlord requests evidence of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate promptly provide to Landlord duplicate copies of the service contract on the attached site plan (Exhibit "B") those areas heating and air conditioning systems and sprinkler inspection agreement upon Landlord’s written request. All Additional Rent which is not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be considered "common areas" due and payable, (i) if payable to a third party, within the time permitted for the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇▇▇▇ payment without interest, penalty or default, (ii) if payable to Landlord without specific payment terms set forth herein, within ten (10) days notice from Landlord of the amount of the ▇▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇▇▇▇ to Tenant's property, Tenant may pay said ▇▇▇▇ directly to the Township of ▇▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten twenty (20) days of said payment. delivery by Landlord to Tenant reserves of notice to pay the right same, and (iii) if payable to audit any common area expenses and all expenses should be reasonable and customaryLandlord in a specific time or manner set forth herein, in accordance therewith.

Net Rent. (The phrase "Tenant's proportionate share" shall apply only if Landlord receives a single ▇▇▇▇ for any such items which ▇▇▇▇ covers land buildings or operations a) As of other Tenants otherwise Tenant's share the Lease Commencement Date, there shall be one hundred percent due and owing from Tenant to Landlord as minimum rent for the Land (100%“Net Rent”) the initial annual amount of Fifty cents ($0.50) per rentable square foot of the MOB. The MOB consist of Seventy-nine Thousand Seven Hundred Eighty rentable (79,780) square feet, and the initial annual Net Rent will be Thirty-nine Thousand Eight Hundred Ninety and No/100 Dollars ($39,890.00) or adjusted should the rentable square footage of the MOB change pursuant to and in accordance with the provisions of this Lease. Tenant shall commence paying Net Rent to Landlord, in advance, on the Lease Effective Date. (b) In the event Landlord desires to include in Net Rent the Capital Costs (as defined herein) of any development, planning, construction or reconstruction of any Common Areas, Landlord shall deliver to Tenant written notice (the “Capital Costs Notice”) of the total project cost proposed to be undertaken, together with a description of the project (the “Proposed CA Project”)., a detailed cost breakdown thereof, and Tenant’s CA Improvements Share (as defined herein) of the Capital Costs associated with the proposed project. Landlord shall capitalize and amortize all proposed Capital Costs over the useful life of the proposed project in accordance with U.S. GAAP, consistently applied, and the amortized portion thereof shall be the amount on which the proposed Tenant’s CA Improvements Share shall be based. With respect to any Proposed CA Project, Tenant shall be entitled to elect whether to participate or not to participate in such Proposed CA Project and Tenant must make such election in writing within fifteen (15) days after Landlord gives Tenant notice of the Proposed CA Project, as described above, provided, however, Tenant must participate in (i.e., may not decline to participate in) any Proposed CA Project which improves the Required Common Areas. If Tenant is required to or agrees to pay as additional rentparticipate in the Proposed CA Project, promptly and without demand, its proportionate share of all real estate taxes, common area expenses and insurance affecting the real estate (land and building) of which the leased premises form a part. It is the intention of the parties that this shall be a triple net lease. The Landlord and Tenant agree that the proportionate share of the above taxes, common area expenses and insurance to be paid by the Tenant, under the terms of this paragraph, shall be computed on the basis that the total area of the leased premises bears to the total area of the entire premises. Landlord and Tenant further agree that Tenant shall pay its proportionate share as an increase to Net Rent to Landlord, Tenant’s CA Improvements Share of the above common area expenses total cost to develop, plan, construct and insurance monthly by paying one-twelfth reconstruct the estimated amount with each basic monthly rent installment Common Areas (“Capital Costs”). If Tenant elects not to participate in the Proposed CA Project (or fails to make a manner similar timely election) Landlord, notwithstanding any provision contained in this Lease to the escrow system used by banks in connection with residential mortgages. Annually Landlordcontrary, upon submission of the tax, common area expense may deny Tenant and insurance bills, shall compute any differences from the estimated monthly payments, notify Tenant of same, and the adjustment of the difference shall be made with the next due installment of the basic monthly rent. Photocopies of the tax ▇▇▇▇, common area expense bills and insurance bills, submitted by the Landlord to the Tenant, shall be sufficient evidence of the amount of taxes, common area expenses and insurance. So long as Tenant is responsible for one hundred percent of such expenses Tenant may make arrangements to pay those expenses when due provided Landlord agrees and Tenant provides adequate proof of timely payment of such expenses. If at any time during the term of this Lease the methods of taxation prevailing at the commencement of the term hereof shall be altered, so that in lieu of or as a supplement to or a substitute for the whole Occupants or any part of the real estate taxes now assessed or charged there is an alternate assessment or charge or tax, then such alternate assessment or charge or tax shall be deemed to be included in the real estate taxes payable by the Tenant pursuant to this paragraph and the Tenant shall pay and discharge the same as herein provided in respect to the payment of real estate taxes. The common area expenses herein referred to are the Landlord's costs of operating, maintaining, replacing and repairing the common areas of the premises (land) of which the leased premises form a part. Such expenses to include, but not limited to, lighting, cleaning, snow removal, policing, landscaping, repairing and patching of the common roadways. The insurance herein is the rental, fire and liability coverage under a policy issued by a commercial insurer licensed to provide insurance in New Jersey. (Any reference to common areas shall apply only if other tenants are sharing use of the demised premises with Tenant. The Landlord and Tenant shall delineate others on the attached site plan (Exhibit "B") those areas which shall be considered "common areas" for Campus at Tenant’s invitation, form using the purpose of this Lease Agreement. Landlord also agrees that Tenant may pay its portion of the tax ▇▇▇▇ to Landlord within ten (10) days notice from Landlord of the amount of the ▇▇▇▇. Tenant shall pay all of the tax for improvements (so long as it is the only building on the taxed property) and its proportionate share of the land until such time as the Tenant's portion of the property is subdivided out. Landlord agrees that it will use its best efforts to subdivide out Tenant's portion of the property and, if successful, further agrees that upon completion of the subdivision and the issuance of a separate tax ▇▇▇▇ to Tenant's property, Tenant may pay said ▇▇▇▇ directly to the Township of ▇▇▇▇▇▇▇▇ and provide proof of said payment to Landlord within ten (20) days of said payment. Tenant reserves the right to audit Proposed CA Project in any common area expenses and all expenses should be reasonable and customaryway.