City Council Agenda and Packet 1979 06 05

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*. a tries ::elle•re it irprota. le that the same will be disconrirued su«i :: ;P -r.... ••n��` ' ;;JrOve ej' is agree! :.s in even: co nsumer Pr1_e In ex of -he ir1- d States Bureau of Labor Statistics is discontinued, t ,;; parties 3na11 accept comparable statistics en pttrt •.asing rower or the consumer dollar as published at the time of said discontinuation by a responsible financial periodical or recognized authority to he then chosen by the parties. In the event ' he parties cannot agree as to comparable statistics on the purchasing cower of -he consumer dollar, t nen in such event comparable statistics stall :e arrived at ty three snit rators, one to be selected by Lessor, ore 1•0 ze selected by Lessees and the third to be selected by said -`o firs: oLoser ar:it ra'ors. Said arbitrators shall matte a report in writing aitned by each of them, within 20 days after their Selection. :however, -he minimum rent paid during the term of this Lease shall be $ _Xt, l f,09 per annum. ARTICLE 2A. OPTIONS TO EXTEND. ye='.ion I. Provided Tenant is not in default hereunder, Tenant shall have and he is hereby granted an option to extend the term of this Lea:e for a period of Five years , and such extended tern: to =on the expiration of the term of this Lease; and all of the t ergs, 'covenants and provisions of this Lease shall apply to such extended term. If Tenant shall elect to exercise the aforesaid option, it should do so by givi Landlord notice in writing of its intention to do so at least three t3) months prior to the expiration of the term of 'nis Lease. All of the terms and provisions of this Lease shall be apc_ica':le during such extended term. ARTICLE 2B. Tenant shall also pay Landlord a Common Area charge for the demised erem ises, to be paid in the following manner: (a) Tenant's total annual charge shall be computed by applying to Landlord' s total costs in c:crating the Common Area that traction having as its numerator the total square foot area of the Tenant's leased premises, and as its denominator the total leased square toot area of Landlord' s premises, as of the first day of each annual accounting period which accounting period shall commence and end on such dates as may be designated by Landlord. As to any annual accounting period a portion only of which is contained in the term of this Lease, Tenant 's obligation shall be prorated. 2,580 sq. ft. ♦ 25,900 sq. ft. . .0996% ARTICLE 3. Special Section ''A" - Tenant Covenants & Conditions. FOR AND IN CONSIDERATION of the leasing of said premises as aforesaid, the said Tenant does covenant and agree as follows, to-wit: To pay the rent for said premises as hereina:aove provided promptly when due and payable; to pay any and all charges for heating and lighting said premises; to pay .0990 (a of occupancy) for the costs expensed oy the L°•ndlor ±or eras-' rcQSOval, water rents and maintenance and servicing of the common areas or areas used ,y the Tenant and the other tenants, including, but not by way of limitation, all costs of maintenance and service of sidewalks, parkin(' facilities and outside lid.^ring, fixtures; t.o keep all . :.e improvements upon said premises, includins all sewer connections, plumbing, hcatinj; appliances, air condition{ng t nl! s, wiring and CZsss, in good order and repair at the r_xpence of raid Tenant , ' o or:9er no r" .i rc R" rte he expense of the Lard- lord, to keep said glass insured at the expense of said Tenant , and, (3) • .. . ,: ,. sw± .