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• B. The total annual rent payable by the Subtenant shall be as follows: Year 1 $3,600 per annum Year 3 $3,969 per annum Year 2 $3,780 per annum C. In the event the parties agree to extend the Sublease beyond the original Expiration Date, then the total annual rent payable for the Renewal Term(s) shall be as follows: Year 4 $4,167 per annum Year 5 1 $4,376 per annum D. If any rent payment due to the Tenant from the Subtenant is not received by the Tenant by the tenth business day after it was due and payable, then a late payment charge of ten percent (10%) of such past due amount shall immediately become due and payable without requirement of notice from the Tenant. Any delinquent payment that is thirty (30) or more calendar days' past due shall bear interest at eighteen percent (18%) per annum from the date due until paid. - Such interest shall be in addition to any applicable late charge(s). SECTION 4. USE OF PREMISES Subtenant warrants and covenants that the subleased premises shall be used only as offices for the business of the Downtown Property Owners' Council. Subtenant shall be solely responsible for payment of telephone and pro -rated share of utilities provided to the Premises and Subleased Premises. SECTION 5. CONDITION OF PREMISES Prior to taking actual possession of the Subleased Premises, the Subtenant shall • examine and inspect the condition of the Premises. The taking of possession of the Subleased Premises shall constitute acknowledgment by the Subtenant that the Subleased Premises are in good order and repair and acceptable to the Subtenant. SECTION 6. LEASE AGREEMENT Except as otherwise provided in this Sublease Agreement, the Subleased Premises are leased subject to and with the benefit of all of the provisions of the Lease Agreement attached hereto as "Exhibit A," except for any renewal privileges of the Tenant, and all of the terms, conditions and covenants of the Lease Agreement are hereby incorporated herein by reference and made a part hereof. With respect to terms and conditions applicable to the Subleased Premises, except as otherwise specifically provided herein, for the purposes of this Sublease the Subtenant shall be considered as the Tenant under the Lease Agreement and the Tenant as the Lessor under the Lease. SECTION 7. LIENS Subtenant shall keep the Subleased Premises free and clear of all liens arising out of any work performed, materials furnished or obligations. incurred. SECTION 8. SUBLETTING The Subtenant shall not assign, or further sublet the Subleased Premises, or any part or portion thereof, without the prior written consent of both the Tenant and the Lessor. 0 Page 2 of 4