and activities on and from the Premises in a safe, clean, secure, efficient, and first-class professional manner for which Tenant is known and which is consistent with the degree of care and skill exercised by other similar private and public utility operators at the Airport.
3.05 Condition of Premises. Subject to Tenant's rights to complete Inspections pursuant to this Lease and the Authority's obligations with respect to Pre-existing Environmental Conditions, Tenant accepts the Premises in its "AS IS CONDITION" and "WITH ALL FAULTS," together with all defects, latent and patent, if any. Tenant further acknowledges that Authority has made no representations or warranties of any nature whatsoever regarding the Premises including, but not limited to, the physical and/or environmental condition of the Premises or any improvements located thereon; the value of the Premises or improvements; the zoning of the Premises; title to the Premises; the suitability of the Premises or any improvements for Tenant's intended use; or Tenant's legal ability to use the Premises for Tenant's intended use.
4.01 Land Rent. For the privilege and right to use the Premises, Tenant shall pay Authority Land Rent in the amount of one dollar (1.00) per square foot per annum for approximately 0.23 acres (approximately 10,000 square feet) of Land, equivalent to Ten Thousand and 00/100 Dollars (10,000.00) annually. Land Rent shall be payable in equal monthly installments, in advance, without demand and without any deduction, holdback or set off whatsoever, by the first day of each month ("Land Rent Payments"). Any payment due hereunder for a fractional month shall be calculated and paid on a per diem basis. Land Rent due herein shall be delivered to the Sarasota Manatee Airport Authority at 6000 Airport Circle, Sarasota, Florida 34243, or at such other address as may be directed ion writing by Authority from time to time.
4.02 Rent Credit. In exchange for the services provided by Tenant to Authority under Section 5.05 "Delivery of Services", hereinbelow, Tenant shall receive annually from Authority a credit against the Land Rent due in an amount equivalent to the Land Rent or ("Rent Credit"), which Rent Credit shall be issued monthly against the Land Rent Payments throughout the Term of this Lease. In no event shall the Rent Credit issued exceed the Land Rent during any portion of the Term of this Lease.
4.03 CAM Charges. Nothing contained in this Lease shall preclude Authority from establishing other reasonable and non-discriminatory common area maintenance fees and charges from time-to-time applicable to Tenant's use of the Premises and/or the common use areas of the Airport. Tenant expressly agrees to pay such fees and charges as they are established as if they were specifically included in this Lease.
(A) Annual Adjustment Date. Effective on the first day of the first month following the conclusion of the first one-year period of the Initial Term and each subsequent one-year period during the Initial Term hereof, the Land Rent shall be adjusted by multiplying the Base Rent by a fraction, the numerator of which shall be the “Consumer Price Index” (as hereinafter defined) figure for September of the calendar year in which such adjustment is to become effective and the denominator of which shall be the Consumer Price Index figure for September of
4