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period of up to two (2) years. Agency may exercise such option by delivering written notice to Lessor pursuant to Section 13.2 by not later than sixty (60) days prior to the expiration of the Term. ARTICLE III RENT 3.1 Rent. Throughout the Term as such maybe extended pursuant to Section 2.3, the rent payable by Agency to Lessor (the "Rent") shall be Two Thousand Nine Hundred Dollars ($2,900) per month. All payments shall be paid to Lessor, in lawful money of the United States of America, at Lessor's address for notices under this Lease or to another person or at another place as Lessor may designate by written notice delivered to Agency pursuant to Section 13.2. 3.2 Due Date; Prorations. Agency shall pay Rent to Lessor on or before the Commencement Date and on or before the first day of each successive calendar month during the Term. If the Commencement Date is a day other than the first day of a calendar month or if this Lease terminates on a day other that the last day of a calendar month, the Rent payable for the first and last fractional months of the Term shall be appropriately prorated. 3.3 Late Charles. If any installment of Rent is not received within ten (10) days following the due date for such installment, Agency shall pay to Lessor a late charge equal to two percent (2%) of the overdue amount. The Parties agree that the late charge represents a fair and reasonable estimate of the costs Lessor will incur because of late payment. Acceptance of the late charge by Lessor shall not constitute a waiver of Agency's default for the overdue amount, nor prevent Lessor from exercising the other rights and remedies granted under this Lease. 3.4 Additional Rent. In addition to the Rent, Agency shall be responsible for the payment of all property taxes and utilities (if any), owed for the Property. Lessor shall provide Agency with copies of property tax and utility bills within ten (10) days following Lessor's receipt thereof. Agency shall make all payments of property taxes and utilities on or before the due date and shall provide the Lessor with evidence of such payment. If Agency fails to make such payments, following written notice to Agency, Lessor may make such payments and add the amount paid to any Rent due. 3.5 Right to Contest. Agency shall have the right to contest the legal validity or amount of any taxes, assessments, or charges for which Agency is responsible under this Lease, and may institute such proceedings as Agency considers necessary. If Agency contests any such tax, assessment, or charge, Agency may withhold or defer payment or pay under protest but shall protect Lessor and the Property from any lien by adequate surety bond or other appropriate security. ARTICLE IV OPTION TO PURCHASE 4.1 Grant of Option. Lessor hereby grants to Agency an exclusive option (the "Option") to purchase the Property, pursuant to this Article IV and the terms and conditions of the Purchase 1137220-3 3