COM 0439.002 1996-1998 - Laserfiche WebLink

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r stated above, without any deduction and without notice or demand, at the office of Lesscr in Hilo, Hawaii. If any date for paymen~ shall not be a Business Day, then Lessee shall make such payment on the next following Business Day. (b) Electronic Funds Transfer. Lessor may, upon ninety (90) days prior written notice, require Lessee to pay Base Rent and real property tax and assessments through electronic funds transfer using an automated bank debiting system, whereby such payments shall be debited from Lessee's bank account and credited to a bank account Lessor shall designate in such notice. Lessee shall upon receipt of such notice promptly execute and deliver to Lessor and Lessor's designated bank, any documents, instruments, or authorizations required to implement such debiting system. Lessee shall pay all service fees and other charges in connection with electronic funds transfer, including charges resulting from insufficient funds in Lessee's bank account. Lessee shall remain liable for all payments of Base Rent and real property tax and assessments, notwithstanding Lessee's bank's failure to correctly debit the amount of such payments or transfer such payments to Lessor's account. 5.03 Taxes and Assessments. (a) Real Property Tax. Lessee will at least ten (10) days before the same become delinquent pay as additional rent to Lessor all real property taxes and assessments of every description to which the Premises or any part thereof or any building or improvement thereon, or Lessor or Lessee in respect thereof, are now or may during the Term be assessed or become liable, whether assessed to or payable by Lessor or Lessee. (i) Payment of Assessments. With respect to any assessment made under any betterment or improvement law which may be payable in installments, Lessee shall be required to pay only such installments of principal together with interest on unpaid balances thereof as shall become due and payable during the Term. All such taxes and assessments shall be prorated as of the Commencement Date and expiration date, respectively, of the Term. (ii) Payment by Lessor. If Lessee fails to pay such real property taxes and assessments, Lessor may, without notice of demand to Lessee, pay the same, and any advances made by Lessor in discharge of the assessments and other charges shall be a lien on Lessee's interest in the Premises, payable on demand with interest at the rate of interest provided in Section 5.03 (d) . (iii) Appeal of Real Property Tax and Assessments. Lessor or Lessee may contest in good faith, by appropriate proceedings commenced before the same become delinquent, the validity or amount of any such real property tax or assessment, in the name of Lessor or in the name of Lessee, or both of them as Lessor or Lessee may deem advisable. GLS 081997 12548.6 GLS 2002 064 15