§ 2-4. Rental payments.

(a) Occupancy contingent on payment.

The issue and granting of the lease shall be subject to the payment of the rental fee prescribed therefor.

(b) Amount.

The amount of the rental fee for the stall spaces and sections shall be established by the Mayor, with the approval of the Board of Estimates.

Rental shall be payable in advance, either annually, semi-annually, quarter-annually, or monthly, as may be agreed upon and with the approval of the Mayor or his authorized agent.

(d) Penalties for nonpayment.

(1) If the rental fee for the coming year, half-year, quarter-year, or month, as the case may be, is not paid within 15 days from the commencement of that year, half-year, quarter-year, or month, as the case may be:

(i) a penalty at the rate of 10% of the rental fee shall forthwith be added thereto; and

(ii) thereafter, a penalty of 10% per month for each month or portion of a month, in that quarter, shall be imposed.

(2) The entire rental fee plus the penalty shall be due and payable before the applicant is granted any further lease or renewal thereof under this article.