City Council Agenda and Packet 1979 06 05

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i �;a'�' ["-ra7! ar•. .i'• 7771".11F +lc-taror.�a...v, equipment, or to per.orr iirishi:g work, Tenant-small be deemed to ha-re accepted the same :and acknowledged that the leased premises are in the condition required cy Landlord's covenants hereunder except ,as . to i_^._=-_let lefeJ :ive items of Landlord's work thenspecified in writing by Tenant 0nd any latent defects. In the event of any dispute the certificate of Landlord' s architect shall oe conclusive that the , leased pretnisrss in the Center are in the Condition required by this Lease end ere ready for occupancy. Section 3. It the premises are not ready for occupancy on the lease commencement: date s'ipulated above, this Lease shall not be void or voidable nor shall Landlord be liable for any loss or damage resulting therefrom.. It is particularly understood and agreed that Landlord sue _ elect not to ccmmence or continue construction of the leased presages during any time when there is any action pending or threatened or appeal pending, threatened, or maintainable by any person hif. successful, would prevent Landlord from constructing or using eaateg} _� premises or the- Center in general in accordance with this Lease. Section 4. Notwithstanding any other provisions of this agreement if the leased premises shall not be ready for occupancy on or before September 1 1979 , then for a period of thirty (30) days thereafter, ' enani shall Five the option, and for a period of sixty (60) days thereafter, Landlord shall have the option of cancelling this Lease -2y notice to the other party. If the leased premises shall not be ready for occupancy on or before 0ecembar i+ 1919 , then this Lease shall oe deemed cancelled without any act- of the parties. If this Lease is cancelled by the exercise of either of said options, the party so terminating shall pay to the other Five Dollars ($5.00). Upon any cancellation provided for in this Section 4, Landlord shall refund to Tenant any amount paid to Landlord by Tenant for advance rent or as ss,curity deposit and neither party stall have any liability either for damages, or otherwise, to the other arising out of or based upon this Lease. Section 5. Upon request of either party after the commencement date of the term of this Lease, Landlord and Tenant shall execute, acknowledge and deliver a supplemental agreement in recordable form specifying the commencement and termination dates of the term hereof. ARTICLE 2. RENTAL RATE & TERMS. As rental for the leased premises, Tenant shall pay Landlord annually, per lease year, the sum of Seventeen Thousand Four unfired Fit teeeDsl aO ( S17.4j5.o0 ), as base rental, or the sum based on "Consumer Price Index as stated herein, whichever is greater. The minimum rental herein specified shall ppxpayable in equal installments of Qns rasamanA Four Hundred at Fifty-one &Dollars ( 51,451.�5 ) in advance, oetween the First and Fifth day of each calendar month. After the first year following the execution of this Lease, the annual rental which Lessee agrees to pay in lawful money of the United States in equal monthly installments on the First day of each month, during the entire term of the .ease and any extension thereof shall be determined by dividing the base annual rental of Seventeen Thousand ?our Hundred and Fifteen s No/l;0the index nunV er in the column for "A11 Items" n r. a onsumer rice Index -- U.S. City Average", published monthly in the "Monthly Labor Review" of the Bureau of Labor Statistics of the United States Department of Labor for the month preceding the date of this Lease and then multiplying the amount by the index num.er for the same month in each year for which the computation is made during the term of the Lease and any extension. In the event that the Bureau of Labor Statistics shall change the base period (now 1467.100 _ equals 100), the new Index Number for the month preceding the coititence- ment• date hereof shall oe subst-itut.ed for the Index number originally used as the divisor of the base annual rental. Because of the above- mentioned cost of living index has been published continually since 1913, (2)