At Lessees election, Lessee may make payments of Base Rent and all other amounts payable to Lessor pursuant to this Lease by ACH or other electronic funds transfer.
In case of a failure by the LESSEE to pay Base Rent when due, where such failure shall continue for five (5) business days after written notice thereof from Lessor to Lessee, LESSEE shall, in addition to said stipulated rent, pay a late fee of $100 plus interest at the rate of five percent (5%) per annum on such delinquent rent amount(s) until such time as said rent is paid.
4. ADDITIONAL RENT: In addition to the Base Rent, during the Lease Term, Lessee shall pay to Lessor, as Additional Rent, all Real Estate Taxes (Lessees Tax Obligation) as provided in this Paragraph 4.
(a) For the purposes of this Paragraph 4, the following words and terms shall have the following meaning:
(i) Real Estate Taxes shall mean all real estate taxes, assessments, and levies, general and special, ordinary and extraordinary, foreseen and unforeseen, of any kind and nature whatsoever, which at any time during the Lease Term may be assessed, levied, confirmed, imposed upon, or may become due and payable out of or in respect of, all or any portion of the Premises (including, without limitation, all improvements thereto) other than: (A) municipal, state and federal income taxes (if any); or (B) municipal, state or federal capital levy, gift, estate, succession, inheritance or transfer taxes; or (C) excess profits or franchise taxes; provided, however, that if at any time during the Lease Term the methods of taxation prevailing at the commencement of the Lease Term shall be altered so that in lieu of, or as a substitute for, the whole or any part of the taxes, assessments, levies or charges now levied, assessed or imposed on real estate and the improvements thereon, there shall be levied, assessed and imposed a tax, assessment, levy, imposition or charge, wholly or partially as a capital levy or otherwise, on the rents received therefrom, or measured by or based in whole or in part upon, the Premises and imposed upon Lessor, then all such taxes, assessments, levies, impositions or charges or the part thereof so measured or based, shall be deemed to be included with the term Real Estate Taxes. Real Estate Taxes shall not include any penalties, fines, interest or late charges for Lessors failure to timely pay Real Estate Taxes, except where Lessee shall have failed to timely pay Lessees Tax Obligations hereunder (as defined in Paragraph 4(b) below). Real Estate Taxes shall not include any transfer tax imposed on the transfer of Lessors title to the Premises or on the creation or transfer of any Mortgage (as defined in Paragraph 25 below). In the event any Real Estate Taxes (including, without limitation, any assessments or special assessments) may be payable in installments, then for the purpose hereof (regardless of whether Lessor elects to pay same in installments) Real Estate Taxes for any Tax Year occurring during the Term shall include only those installments that would have become due in such Tax Year if Lessor opted to pay same in the maximum number of installments permitted.
(ii) Tax Year shall mean each fiscal tax year for Real Estate Taxes commencing July 1st and ending June 30th falling in whole or part during the Term, or such other fiscal tax year as the Town of Mansfield shall hereafter adopt.