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3. ��c����osii. A!so concurr�ntlV with the execution of this Lease, Tenant wiU depcsi#with .
<br /> Landlordk`tKe s�im`of��ve Tnousand Thres Hundred Twelve and 50/100 Dollars ($5,312.50)to be held as
<br /> security for the fuil and faithfui periormance and observance by Tenant of the terms, provisions, and
<br /> conditions of this Lease (the "Security Deposit"). it is agreesi that in the event Tenant defaults in respect
<br /> of any of the terms, provisions, and conditions of this Lease, including, but not limited to, the payment of
<br /> rent and additional rent, Landlord shall have the right, but not the obligation, to use, apply,or reiain the
<br /> R�' whole or any part of the Security Deposit to the extent required for the payment of any rent and additional
<br /> � rent or any other sum as to which Tenant is in default or for any sum which Landlord may expend or may
<br /> � be required to expend by reason of Tenant's default in respect of any of the terms, covenants, and
<br /> conditions of this Lease. If any portion of the Security Deposit is so used, applied or retumed,Tenant will,
<br /> ,� within ten (10) business days after written demand, deposit with Landlord funds sufficient to restore the
<br /> Security Deposit to its original amount. No such application shall be construed as an agreement to limit
<br /> � the amount of Landlord's claim or as a waiver of any damage or release of any indebtedness,and a claim
<br /> � of Landlord under this Lease not recovered in full from the Security Deposit shall remain in full force and
<br /> � effect. Landlord will not be required to keep the Security Deposit segregated from its general accounts or
<br /> � funds and Tenant will not be entitled to any interest on the Security Deposit. Tenant further agrees that
<br /> Landlorci and all of Landlord's successors or assigns may deliver the funds deposited pursuant hereto by
<br /> Tenant to any purchaser or successor of Landlord's interest in the Leased Premises, and,thereafter,
<br /> Landlord shall be discharged from any further liability with respect to the Security Oeposit. In the event of
<br /> such transfer of the Security Deposit, Landlord shall give written notice to Tenant of any existing claims
<br /> against the Security Deposit, the balance of the Security Deposit transfened, and the name and address
<br /> of Landlord's successor. In the event that Tenant shall fully and faithfully comply with all of the terms,
<br /> provisions, covenants, and conditions of this Lease,the Security Deposit shall be retumed to Tenant
<br /> within fifteen (15)days after the date fixed at the end of the Lease and after delivery of possession of the �
<br /> entire Leased Premises to Landlord under the terms, conditions and covenants of the Lease.
<br /> Notwithstanding the foregoing,the Landlord and Tenant agree that provided Tenant exercised its Option
<br /> to Purchase in accordance with Section 23,and the Tenant has fully and faithfully complied with all of the
<br /> terms, provisions, covenants and conditions of the Lease,the Security Deposit may be used to offset the
<br /> Purchase Price stipulated in paragraph 23b.
<br /> 4. Use. Tenant shall use the Leas2d Premises only for sales of tires, undercar parts and other
<br /> automotive accessories and all related automotive service work and for no other purpose without the prior
<br /> written consent of Landlord. Tenant shall not permit an activity upon the Leased Premises which is
<br /> prohibited by any applicable law, or which is a questionable or improper activity, nor permit or suffer any
<br /> disorderly conduct, noise or nuisanc� having a tendency to annoy or disturb any persons occupying
<br /> adjacent property.
<br /> 5. �uiet Enioyrnent. Landlord covenants with Tenant that so long as Tenant pays all rent herein
<br /> i ZS�NCtj, a�u perfa�ms ar�d oGserves a8 of the�e�ns,conditions and co�e��a��►s �erein c�n2a��ed,T�rar�t
<br /> shall peaceably and quietly enjoy the Leased Premises during the term of this Lease.
<br /> 6. Utilit9es. Tenant sha11 pay when due directly to the provider the cost of al! utilities and utility
<br /> services to the Leased Premises, including,but not limited to, all charges for water,sewer,gas, heat, air
<br /> conditioning, power and other services to the Leased Premises, and telephone service on the Leased
<br /> Premises.
<br /> 7. T�xes. Tenant shall pay before delinquency any and all real estate taxes ar�d assessments
<br /> assessed upon the Leased Premises and all taxes, assessments and license fees assessed upon the
<br /> Tenant's fixtures,#umiture, appliances and personal propprty installed or located in or on the Leased
<br /> Premises. At Landlord's election,the real estate taxes shal! be paid to Landlord by Tanant concurrently
<br /> with the rent, in equal monthly installments as estimated by Landlord based upon the most recent
<br /> assessment. �
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