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<br />4894-6811-3695v.2 0017787-000542
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<br />“Net Syndication Proceeds” shall be defined as syndication proceeds net of final Project
<br />hard and soft construction costs, including all Improvement Costs and reasonable and customary
<br />syndication closing costs, including developer fee, based on a cost certification completed at the end
<br />of construction, and syndication costs all of which has been reviewed and reasonably approved by
<br />the Lessor.
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<br />3.3 Triple Net Rent. It is the intent of the Parties that all Rent shall be absolutely net to
<br />Lessor and that, except as otherwise provided herein, Tenant will pay all costs, charges, insurance
<br />premiums, taxes, utilities, expenses and assessments of every kind and nature incurred for, against or
<br />in connection with the Premises which arise or become due during the Term as a result of Tenant’s
<br />use and occupancy of the Premises. Under no circumstances or conditions, whether now existing or
<br />hereafter arising, or whether beyond the present contemplation of the Parties, shall County or Agency
<br />be obligated or required to make any payment of any kind whatsoever or be under any other
<br />obligation or liability under this Lease except as expressly provided herein.
<br />3.4 Insufficient Funds. For purposes of this Section 3.4, Rent shall have the same meaning
<br />as stated in Section 1.1.47. If any payment of Rent or other fees made by check is returned due to
<br />insufficient funds or otherwise, County and Agency shall have the right to require Tenant to make all
<br />subsequent Rent payments by cashier’s check, certified check or automated clearing house debit
<br />system. All Rent or other fees shall be paid in lawful money of the United States of America,
<br />without offset or deduction or prior notice or demand. No payment by Tenant or receipt by County
<br />and Agency of a lesser amount than the Rent or other fees due shall be deemed to be other than on
<br />account of the Rent or other fees due, nor shall any endorsement or statement on any check or any
<br />letter accompanying any check or payment as rent be deemed an accord a nd satisfaction, and County
<br />and Agency shall accept such check or payment without prejudice to County’s and Agency’s right to
<br />recover the balance of the Rent or other fees or pursue any other remedy available to the County or
<br />Agency in this Lease.
<br />3.5 Reserved.
<br />3.6 Additional Rent.
<br />3.6.1. Additional Rent. During the Term, the Base Rent shall be absolutely net to
<br />County and Agency so that all costs (including but not limited to Operating Costs and Utility Costs,
<br />as defined below), fees, taxes (including but not limited to Real Estate Taxes and Equipment Taxes,
<br />as defined below), charges, expenses, impositions, reimbursements, and obligations of every kind
<br />relating to the Premises shall be paid or discharged by Tenant as additional rent (“Additional
<br />Rent”). Additional Rent shall also include such amounts as described in Article XI. As more
<br />particularly set forth in Sections 3.6.3 and 3.6.6, below, Tenant has the right to pay under protest the
<br />foregoing Additional Rent, as applicable, and defend against the same. Any imposition rebates shall
<br />belong to Tenant.
<br />3.6.2. Taxes. During the Term, Tenant shall pay directly to the taxing authorities all
<br />Taxes (as herein defined) at least ten (10) days prior to delinquency thereof. For purposes hereof,
<br />“Taxes” shall include any form of assessment, license fee, license tax, business license fee,
<br />commercial rental tax, levy, penalty, sewer use fee, real property tax, charge, possessory interest tax,
<br />tax or similar imposition (other than inheritance or estate taxes), imposed by any authority having the
<br />direct or indirect power to tax, including any city, county, state or federal government, or any school,
<br />EXHIBIT 15
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