2230 Michigan Ave

Lease terms

The initial lease term shall be twelve (12) months, commencing on the Lease Start Date and ending on the Lease End Date specified in this Agreement. Option to Shorten the Lease Term Tenant may elect to shorten the lease term, subject to Landlord's written approval, with a $75.00 monthly premium added to the monthly rent for each month the lease term is reduced below twelve (12) months. Example: If Tenant elects a 10-month lease instead of a 12-month lease, the monthly rent will increase by $150.00 per month ($75 x 2 months). Option to Extend the Lease Term Upon mutual written agreement between Landlord and Tenant, the lease may be extended beyond the initial 12-month term. Any extension shall be documented in writing and signed by both parties. Rental rates and other terms for the extension may be adjusted by mutual agreement. Utilities Tenant shall be solely responsible for establishing and maintaining all utility services in Tenant's name, where applicable, and shall pay all charges associated with the Premises during the tenancy, including but not limited to: Electricity and natural gas (PG&E) Water Sewer Garbage and recycling Cable television Internet service Any other utility or communication services used by Tenant Rent and Late Fees Monthly rent is due in full on the first (1st) day of each calendar month without demand, deduction, or offset, and shall be paid in the manner designated by Landlord. Rent not received by 11:59 p.m. on the fifth (5th) day of the month shall be considered late. If rent is not received by the expiration of the grace period, Tenant shall pay a late fee of Fifty Dollars ($50.00). The parties acknowledge that this late fee is intended to represent a reasonable estimate of the administrative costs incurred by Landlord as a result of late payment and is not intended as a penalty. The assessment or acceptance of a late fee shall not waive Landlord's right to pursue any other remedies available under this Lease or under California law, including the collection of unpaid rent. Any payment received may be applied first to outstanding late fees, returned payment charges, or other amounts due, and then to unpaid rent, to the extent permitted by California law. If a check or electronic payment is returned for insufficient funds or otherwise dishonored, Tenant shall reimburse Landlord for any applicable bank charges and any additional amount permitted under California law.