Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)

Citation: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Parent Document: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Jurisdiction: Rhode Island (state)
Effective Date: 1998-03-30
Original Source: https://www.courtlistener.com/opinion/4113657/apple-valley-mall-v-floyd-realt... ↗

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Prior to January 1, 1997, the defendant owed the plaintiff an annual base rent of $193,900.00, payable in twelve monthly installments of $16,325.00, and due on or before the first day of each month. Lease, Paragraph 4.1. However, beginning on January 1, 1997, a first option period had commenced under the lease that increased the annual base rent to $216,616.00, or $18,218.00 per month, a $1,893.00 increase in the monthly installment payment.Id. at Paragraph 2.5. Moreover, the lease provides that the defendant is responsible for paying certain operating expenses and that the plaintiff must provide the relevant documentary information categorizing individual amounts supporting each operating expense billed to the defendant. Id. at Paragraph 6.1. The lease states in relevant part that

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