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ARTICZ.,EIII 201n08237 Rent 3.1 Lessee shall pay to Lessor monthly installments in the amount of Two Thousand Nine Hundr�d and Na/100 Dollars ($2,900.00) on the lst day of each month throughout the initial term of thas Lease with Purchase ox any extended lease term, commencing November 1, 2010. The rent shall be payable ta the Lessor at such place as the I,essor may direct. 3.2 All taxes, cha.rges, costs and expenses which Lessee is required to pay hereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such atnounts, and all damages, costs and expenses which Lessor may incux by reason of any default of Lessee, or failure on Lessee's part to comply with the terms of this Lease with 1'urchase Option, shall be deemed to be additional rent, and in the event of nonpayrr�ent by the Lessee, Lcssor shall have all rights and remedies ��ith respect ther�ta as �.essc�r has .far the anonpayment of the monthly rent, ARTICLE IV Insurance �.1 As a material part of the consideration bargained for herein, Lessee hereby waives all claims againsf Lessor for damage to property in, upon or adjoining the Premises, from any cause arising at any time during the period for which rent is due under this Lease with Purchase Option, if not attributable to the negligence or tortious misconduct of Lessor, Lessor's employees, agents or business visitors. 4.2 Lessee shall, during the initial term of this Lease with Purchase Option or any extended lease term, maintain and deliver to Lessor public liability insurance agaa�ast claims for bodily injury or death occurring upon, in or about the demised Premises, in which both Lessar and Lessee shall be named as insureds. Such policy or policies shall have such limits and be in such form and with such insurance companies as shall be reasonably satisfactory to Lessor. 4.3 At all times during the period for which rent is due hereunder, Lessee shall maintain in full force and effect fire and other hazard insurance policies, to include dernalitian cast, increased cost of construction and contingent liability frann building laws endorsements, for the benefit of Lessar, Lesso�`'s mortgagee, if any, and Lessee, on all buildings erected upon the leased pxemises, in an amount equivalent to the fair market value o� the impravements on the leased premises. Such replacement cost shall be determined frozn time to time, but not more frequently than once a year at Lessor's request. 4.4 Lessor and Lessee shall each procure an appropriate endorsement an any policy of fire or any other hazard insurance covering the leased premises and business personal property of every description (including Lessee's improvements and betterments) cantained therein or thereon, pursuant to which the insurance companies waive subrogation or consent to a waiver of right of recovery, and having abtaaned such endorsements of �vaiver of subrogation or consent ta a waiver of right of recovery, each party hereby agrees not to: (1) make any claim against or seek to recover from the other for any lvss or damage to its property, or the property of others, resulting from fire or ather hazards covered by casualty insurance maintained by such party; (2) �a