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<br />be considered an Accounting Year and the last Accounting Year
<br />of the renec-red Lease Term shall be from December 1, 2010, to
<br />August 20, 2011.
<br />~i 12. GRUSS RECEIPTS (7.159N)
<br />The income u on cahich Pexcenta e Rentals uired b this Lease
<br />einafter referred as "Gross Receipts ,
<br />shall be all the income of LESSEE, its agents, sublessees, con-
<br />cessionaires, licensees or any person contracting with LESSEE,
<br />derived from business operations of any kind or nature conducted
<br />on or from the Joint Leasehold and shall include:
<br />A. The sales price of all goods, wares, merchandise,
<br />and products sold, vrhether for cash or credit, and, if
<br />for credit, whether payment is actually made or not; except
<br />for purposes of calculatin Percentage Rental, only the,t
<br />portion of Pro Shop sales (i.e., sales of golfing supplies,
<br />w alo~i3-ng, equipmen , anti'°sirnilar merchandise) which epee ds
<br />~'" the average annual Pro Sho sales for LESSEE'S, 1967,
<br />---.,. ._
<br />l~ and 1970 fiscal years shall. be__consdered:"""'
<br />Should LESSEE choose to maintain and operate a Pro Shop
<br />upon land other than the Joint Leasehold and such Pro Shop
<br />provides services or facilities in any way connected with
<br />the golf course operated vrithin the Joint Leasehold, the
<br />income produced in such Pro Shop shall be a part of the
<br />Gross Receipts as defined in this Lease and shall be used
<br />" for calculating Percentage Rental, subject only to the
<br />exception set forth above.
<br />B. The charges made for the e or~ rendition of se~~,,.e~s
<br />of any nature or kind, whatsoever, whether for cash or
<br />credit, and if for credit, whether payment is actually
<br />made or not;
<br />C. All admissi~ entry, rental and other fees of any
<br />nature or kind; - _ "~-
<br />D. All sums e osited in any pay telephone or ,coin-
<br />operated vending mac ne or other device regardless of
<br />ownership of the telephone, machine, or device, or whether
<br />such sums are removed and counted by LESSEE or by others ,
<br />and regardless of the percentage of said sums LESSEE
<br />is entitled to receive;
<br />E. The f i r r -n .a~ value of_ offce.,~;s„p~,,,~.~, her facilitie_ s
<br />used by LESSEE or his employees for purposes other t, an_„ e ~~`~
<br />bus ness pu o _ _- easehold.~_leased.
<br />Gross receipts shall exclude all sales and excise t x~ cps = avah`1P
<br />to federal, sta e,~ county, or mun~c~pal~~goverrimen~s as a direct
<br />s his Lease. e un s or goo s. e urned
<br />shall be deducted from current Gross .eceipts upon return. Ba
<br />debt losses shall no uc~ e rom oss eceipts.
<br />13. RENTAL (8.129N)
<br />LESSEE shall pay rental for use of the Leased Land during the
<br />Lease Term in accordance with the following agreement:
<br />A. Construction Period. No rental shall be due during
<br />the Construction Period described in Clause 2 (LEASE TERP~I) .
<br />-seo-~a !I _9-
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