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79002203
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Last modified
1/12/2010 10:01:26 PM
Creation date
1/12/2010 10:01:05 PM
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DEEDS
Inst Number
79002203
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<br />r~-~. ~ ~ 3 <br />Lessee will gay to Lessors the sum of $2,60.15 r ~ ugcn completion <br />of construction and prior to occupancy by Lessee as partial consideration <br />for execution of the Lease, with the understanding that this sum is to be <br />considered the first and last month's rent, <br />S. Option to Extend: Lessee shall have the option to extend this Lease <br />for an additional term of five (5) years by giving the Lessor written notice <br />of such intention nat less than ninety (90) days prior to the expiration <br />of the original tem. The terms and conditions of this Lease shall then be <br />applicable for such extended term as though the extension was a part of the <br />original term. <br />6. Rental: During the term hereof, Lessee will pay to Lessors at such place <br />o.r places as Lessors from time to time may notify Lessee in writing, the sum of <br />$ 312.500.00 payable in 240 equal monthly installments of <br />$ 1 302.08 in advance on the fifteenth day of each calendar <br />month during the term hereof. <br />7, Ad ustments of Rentals: It is agreed by the parties hereto that the <br />above mentioned rentals shall be considered minimum and commencing on the <br />fifteenth day of each Aril every five years thereafter for the term <br />of this Lease the rental for that five-year period will be adjusted as follows: <br />(a) The parties hereto agree that the rent adjustmment shall be based upon <br />the rental figure set forth in Paragraph 5 heroin and computed by increasing or <br />decreasing the rental amount in direct proportion to the increase and/or <br />decrease as reflected in the Consumer Price Index as published by the Bureau <br />of Labor Statistics not to exceed 25X for each 5 year adjustment period. For <br />purpose of computation, the most recent figures available from the said <br />Consumer Price Index shall be the figures so used. Nothing herein contained shall <br />be considered tc affect the agreement that the figure above sat forth in <br />Paragraph 6 1s a minimum rental figure and it is hereby agreed that the monthly <br />rental so established £or any five-year period shall always be equal or greater than <br />the said minimum rental. "The U.S. Cansuma=r Price Index for All Urban Coastmers <br />shall be used." <br />(b) In the event drat such index is no longer published, the parties will <br />_ use such-other index as is then generally recognized and accepted for similar <br />- 3 - <br />
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