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201706687
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Last modified
12/9/2019 6:11:16 PM
Creation date
10/3/2017 2:00:57 PM
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DEEDS
Inst Number
201706687
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and clear of any obstructions or interferences created or permitted by tenant or resulting from <br />tenant's operations. Tenant and its employees and invitees are, except as otherwise provided in <br />their lease, authorized and privileged during the term of said lease to use the Common Areas <br />for their respective intended purposes in common with other persons. <br />Section 8.7 Operating Costs. Declarant will operate and maintain, or cause to be <br />operated and maintained, the Common Areas, Common Utility Areas and that portion of the <br />Mall located on the Land owned by the Declarant in accordance with good Mall industry <br />practices. For the purposes of this Declaration, "Operating Costs" shall be those expenses, <br />capital and non - capital costs, and any other cost or expense of whatever kind or nature related <br />to operating, repairing, managing, maintaining, and replacing the Common Areas and that <br />portion of the Mall located on the Land owned by the Declarant. Declarant's accounting <br />practices shall be determinative and binding on the parties. <br />Section 8.8 Parcel Owner's Share of Operating Costs. Declarant may enter into an <br />agreement with a tenant by which a tenant shall be responsible for an Owner's share of <br />Operating Costs during the term of its lease. Each Owner (or tenant, if applicable per the <br />previous sentence) shall pay to Declarant Owner's share of the Operating Costs allocable to its <br />Parcel computed by multiplying the Operating Costs by Parcel Owner's Portion. "Parcel <br />Owner's Portion" is a fraction whose numerator is the square footage of the building located <br />on the Parcel and whose denominator is the total square footage of all buildings within the <br />Mall as shall be re- determined anytime a building is added, modified or removed from the <br />Mall. On the first day of each calendar month such Owner shall pay to Declarants, in advance, <br />without demand and without any setoff or deduction, as payment on account of Owner's share <br />of the Operating Costs an amount equal to one - twelfth (1 /12 of its proportional share of the <br />Operating Costs. In the event there is a conflict between this cost sharing formula and any <br />lease executed by the Declarants, the terms and provisions of such lease shall prevail. The <br />Owner's share of Operating Costs shall also include water and sewer usage /consumption on <br />their Parcel which shall be billed by the Declarant on a monthly or other basis in the sole <br />discretion of the Declarant. Amounts payable by the Owners under this Section are in addition <br />to amounts payable under Section 6.1. <br />28 <br />201706687 <br />/v <br />
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