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the right to make any reasonable repairs, alterations or <br />modifications to the premises, which Landlord it its sole <br />discretion deems reasonable and necessary. As used in <br />subparagraphs (i) and (ii), above, the "worth at the time of <br />award" is computed by allowing interest at a rate equal to the <br />Federal Reserve-Bank discount rate per annum from the date of <br />default. As used in subparagraph (iii), above, the "worth at the <br />time of award" is computed by discounting such amount at the <br />discount rate of the Federal Reserve Bank at the time of award. <br />The term "rent" as used in this Article shall be deemed to be and <br />to mean rent to be paid pursuant to Article 4 and all other <br />monetary sums required to be paid by Tenant pursuant to the terms <br />of this Lease. <br />13.3 Late Charges <br />Tenant hereby acknowledges that late payment by Tenant <br />to Landlord of rent and other sums due hereunder will cause <br />Landlord to incur costs not contemplated by this lease, the exact <br />amount of which will be extremely difficult to ascertain. Such <br />costs include, but are not limited to, processing and accounting <br />charges. Accordingly, if any installment of rent or any other <br />sum due from Tenant shall not be received by Landlord or <br />Landlord's designee within ten (10) days after such amount shall <br />be due, Tenant shall pay to Landlord a late charge equal to ten <br />percent (10y6) of such overdue amount. The parties hereby agrees <br />that such late charge represents a fair and reasonable estimate <br />of the costs Landlord will incur by reason or late payment by <br /> <br />-20- <br />