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shall be null and void. All the terms, covenants, and provisions <br />of this sublease shall apply to all extended sublease terms. The <br />waiver of Sublessor of any breach of a term, covenant, or condition <br />of this sublease shall not be deemed to be a waiver for the purpose <br />of Sublessee's right to extend the term of this sublease under this <br />paragraph, provided Sublessor has given notice of any breach as <br />required by the terms of the sublease. <br />b. Sublessee may exercise the option to extend this sublease <br />by giving to Sublessor notice of its intention to do so not earlier <br />than August 1, 2021, and not later than September 30, 2021 prior to <br />the expiration of the sublease term. To constitute effective <br />notice of an intention to exercise the option under this sublease, <br />the notice must be sent by certified or registered mail to <br />Sublessor at the address provided in # 13.01. of this sublease and <br />must be postmarked no later than the latest date provided in this <br />section for Sublessee's exercise of the option. Any notice to <br />exercise the option by Sublessee is subject to the provisions of # <br />1.02. (a) above. <br />ARTICLE 2. RENT <br />Consideration <br />#2.01. Sublessee agrees to make improvement on the subleased <br />premises to the extent of five per cent (050) of its annual gross <br />receipts. Sublessee agrees and covenants that it will expend <br />during each year, for such purpose, five per cent (05a) of its <br />total gross receipts for the ten year term of this sublease. <br />However, in the event Sublessee expends in excess of five per cent <br />(05%) during any one year hereof for such purpose, such excess may <br />be credited on the total amount to be expended by Sublessee <br />hereunder. <br />Gross Receipts Defined <br />#2.02. The term "gross receipts" as used in this sublease <br />means all sums of money received by Sublessee from all business <br />conducted on or from the subleased premises by Sublessee and all <br />others, whether such money be evidenced by check, credit, charge, <br />exchange, or otherwise. <br />a. The term "gross receipts" includes, but is not limited to, <br />the following: <br />5 <br />