2008/01/30 Council Agenda Packet

ry 4.4 Tenant's Cancellation Option. Tenant may exercise the option to terminate this lease agreement only under one or more of the following circumstances: a. If all or a substantial portion of the Premises is taken or appropriated by a public or quasi-public authority under the power of eminent domain or agreement in lieu of condemnation and Tenant provides 30 days written notice consistent with Section 26(Eminent Domain);or b. If there is a modification of the parking or common areas or a diminution in access to the Premises such that the modification or diminution materially interferes with the use and enjoyment of the Premises contemplated in Section 3,and Tenant provides 30 days'written notice;or c. If, due to no fault of the Tenant, its agents, servants, employees or invitees, the Premises are damaged by fire or other perils,the damage materially interferes with the use and enjoyment of the Premises contemplated in Section 3,and Tenant provides 30 days'written notice. 5. MINIMUM RENT. Tenant agrees to pay to Landlord as Minimum Rent,without notice or demand, the monthly sum outlined below. This payment shall be made, in advance, on or before the first day of each and every successive calendar month thereafter daring the term hereof. Said rental shall be paid to Landlord,without deduction or offset, in lawful money of the United States of America,at such place as Landlord may from time to time designate in writing. Minimum Rent due for a partial month shall be prorated based on the number of days in the month.Additional Rent as outlined in Section 7 shall also be due. Minimum Rent during the initial Term shall be: February 1,2008 through January 31,2009 $11,940 per month February 1,2009 through January 31,2010 $12,298 per month February 1,2010 through January 31,2011 $12,667 per month Minimum Rent for each Extension Period shall be the Minimum Rent for the prior month adjusted to reflect the lesser of an increase of 5%or the percentage increase(if any)in the Consumer Price Index All Urban Consumers,U.S.City Average,base years 1982-84=100 as published by the Bureau of Labor Statistics,U.S.Department of Labor(CPI)for the most current monthly period available("CPI")for the most current monthly period available,calculated as follows: For the first Extension Period CPI index for month thirty-seven(37)of this Lease,minus the CPI index for month twenty-five(25)of this Lease,the difference of which is to be divided by the CPI index for month twenty-five (25), the result multiplied by 100 to determine the percentage of change for the period of month twenty-five (25) to month thirty-seven (37). Such percentage change shall be applied to the Minimum Rent for month thirty-seven(37)to determine the increase in Minimum Rent for the first month of the first Extension Period and each month thereafter until the expiration of the first Extension Period. For the second Extension Period - CPI index for month forty-nine (49) of this Lease, minus the CPI index for month thirty-seven(37) of this Lease,the difference of which is to be divided by the CPI index for month thirty-seven(37),the result multiplied by 100 to determine the percentage of change for the period of month thirty-seven (37) to month forty-nine (49)). Such percentage change shall be applied to the Minimum Rent for month forty-nine(49)to determine the increase in Minimum Rent for the first month of the second Extension Period and each month thereafter until the expiration of the second Extension Period. If for any reason the CPI referenced herein shall cease to exist prior to the determination of NNN monthly rental for any Extension Period, the Minimum Rent for such Extension Period shall be calculated using whichever index the Bureau of Labor Statistics, U.S. Depai tiiient of Labor(or its successor agency)identifies as the substitute index. r: 99999-6028/LEGAL 13867066.1