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Tenant on the Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be . liable to Tenant for any loss or damage resulting therefrom, but in that event rental shall be waived for the period between the Commencement Date and the time when Landlord can deliver possession. No delay in delivery of possession shall operate to extend the term hereof. (b) Prior to the Commencement Date, unless Tenant is leasing the Premises on an "as is" basis, Landlord shall substantially complete the Building Standard Work and that portion of the Building Non -Standard Work to be done by Landlord ("Landlord's Work"). Substantial completion shall be deemed to have occurred when there remains to be completed only minor items of Landlord's Work which do not materially impair the use of the Premises by Tenant. (c) In the event the Premises are ready for occupancy prior to the Commencement Date and Tenant takes early occupancy of the Premises, notwithstanding anything else to the contrary contained herein, the Tenant's obligation to pay rent under this Lease shall commence upon such occupancy, and shall continue until the Expiration Date. 5. RENT. Tenant shall pay to Landlord, as rent for the Premises, the Base Rent set forth in Section 1.11 in the monthly installments set forth in Section 1.11. Rent shall be payable on or before the first day of the term hereof and on or before the first day of each and every successive calendar month thereafter during the term hereof. In the event the term of this Lease commences on a day other than the first day of a calendar month, then the monthly rent for the fractional month shall be appropriately prorated. All rental shall be paid to Landlord, without deduction or offset, in lawful money of the United States of America at: • Monticello Associates, LLC Attention: Bill Dittmar 400 East Main Street Charlottesville, VA 22902 P: (434) 817-7249 F: (434) 817-7245 wditt@)aol.com or to such other person or at such other place as Landlord may from time to time designate in writing. All amounts of money payable by Tenant to Landlord under this Lease, whether in the nature of rent or otherwise, shall bear interest from due date until paid at the rate of fifteen percent (15%) or the highest rate legally permissible, whichever is less. Any payment to Lessor following the service upon Lessee of a written five (5) day Notice to Pay Rent or Quit must be in the form of cash, or certified or cashier's cheque. 6. SECURITY DEPOSIT. Tenant has deposited with Landlord the Security Deposit set forth in Section 1.12. Said sum shall be held by Landlord as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including, but not limited to the provisions relating to the payment of rent, Landlord may (but shall not be • required to) use, apply or retain all or any part of the Security Deposit for the payment of any rent CAMyFiles\Council\Nov 4UADE lease.doc 10/22/2002 2:40 PM