Cluster · fee · no year

Late fee assessed to tenant for late rent payment under lease agreement.

Every document that mentions this number (1)

• Meeting Planning and Zoning Commission Meeting — Agenda Packet (2020-11-24)Nov 24, 2020p.8raw: $100.00

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  Late fee assessed to tenant for late rent payment under lease agreement.

  It is agreed and understood that Landlord shall credit the Tenant a 5% discount in the amount of the annual Rent if Tenant elects to pay Landlord the entire yearly Rent amount in advance. If the Tenn shall commence on a day other than the first day of a month, or shall expire on a day other than the last day of a month, the Rent payable during such first or last month, or both, shall be adjusted on a per diem basis. If any installment of Rent or any amount which Tenant is required to pay under this Lease is not paid when due, Tenant shall be automatically assessed a late fee of $100.00 on the fifth (54) of the month, and thereafter interest shall accrue on that installment from the date it was due and payable until it is paid in full, at the annual rate of eighteen percent (18%) per annum, or at the highest rate allowed by law, whichever is lower, Such interest shall be due and payable immediately upon accrual and shall be paid by Tenant to Landlord as additional rent.

  Reasoning: Explicitly labeled as a late fee in the lease agreement.