Common use of PARKING ADDENDUM Clause in Contracts

PARKING ADDENDUM. Tenant shall have the right to park in the garage located within the Building a total of one (1) automobile for each three thousand (3,000) square feet of Net Rentable Area of Leased Premises, rounded to the nearest integer. If Tenant relinquishes any such parking rights during the Term, Tenant shall not be required to pay any fee or penalty for any relinquished space, shall no longer have a right to the relinquished space, and thereafter may recover use of such relinquished unreserved spaces solely upon a space-available basis. Rates charged by Landlord or its operator for such parking shall be the prevailing market rate for parking in such location as established by Landlord or its operator from time to time. Any additional spaces that Tenant may from time to time request shall be subject to then prevailing availability on a non-reserved, “month-to-month” basis (terminable by either party on at least thirty (30) days’ prior notice effective as of the end of a calendar month) at the same non-reserved rate. Tenant’s right to use of the parking shall be subject to (i) timely payment of the parking rate as established from time to time, (ii) such further rules and regulations as Landlord or its operator may establish from time to time, and (iii) all applicable laws, ordinances, rules and regulations.

PARKING ADDENDUM. Tenant shall have the right to park in the garage located within the Building a total of four (4) automobiles. (On reasonable prior notice by Tenant, Landlord will permit one (1) automobile for each three thousand (3,000of the spaces to be set aside as reserved spaces in a location determined by the Landlord within the Project’s garage.) square feet of Net Rentable Area of Leased Premises, rounded to the nearest integer. If Tenant relinquishes any such parking rights during the Term, Tenant shall not be required to pay any fee or penalty for any relinquished space, shall no longer have a right to the relinquished space, and thereafter may recover use of such relinquished unreserved spaces solely upon a space-available basis. Rates charged by Landlord or its operator for such parking shall be the prevailing market rate for parking in such location as established by Landlord or its operator from time to time, which rate at the time of execution of this Lease is $350.00 per space per month for non-reserved spaces and $500.00 per space per month for reserved spaces. Any additional spaces that Tenant may from time to time request shall be In addition, subject to then prevailing availability availability, Tenant may use up to an additional ten (10) unreserved spaces in the garage on a non-reserved, “month-to-month” basis (terminable by either party on at least thirty (30) days’ prior notice effective as of the end of a calendar month) at the same non-reserved rate. Tenant’s right to use of the parking shall be subject to (i) timely payment of the parking rate as established from time to time, (ii) such further rules and regulations as Landlord or its operator may establish from time to time, and (iii) all applicable laws, ordinances, rules and regulations.