Agmt14 San Mateo County Transit District Lease of parking Sequoia Station

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.�.....` � _._ _ Agrecmenl No.800617 (d) Prior Rights. This Lease is made subject to all Iicenses, leases, easements, restrictions, conditions, covenants, encumbrances, liens, and claims of title that may affect Premises in effect as of the Effective Date of the Lease. The word "Lease" may not be construed as a covenant against the existence of any of these. 6. Conditian of Premises. (a) "AS IS"Rental. Agency leases the Premises to Lessee on an "AS IS" with atl faults basis, and Lessee acknowledges that Agency has made no representations of any kind in connection with soils, improvements, or physical conditions on the Premises, or bearing on Lessee's use of the Premises, whether express or implied. (b) Inspections. Lessee is solely responsible for conducting any inspections it may deem necessary or appropriate in determining whether to enter this Lease. Prior to the Effective Date, Lessee may examine and inspect all matters with respect to taxes, operating expenses, insurance costs, bonds, permissible uses, historical uses, zoning, covenants, conditions and restrictions and all other matters which in Lessee's judgment might bear upon the value and suitability of the Premises for Lessee's purposes or Lessee's willingness to enter into this Lease. Lessee acknowledges that Agency has made no representations and warranties regarding these matters, whether express or implied, and that Lessee has relied on its own inspections and examinations in entering into this Lease. As of the Effective Date, Lessee wiil be deemed fuily satisfied with the results of all of the inspectians and examinations contemplated in this Section 6 and Lessee be deemed to have accept the Premises"AS IS"with all faults. ?. Rent. Commencing as of the Effective Date, Lessee will pay to Agency as rent for the Premises the sum of$7,500 per month ("Rent") subject to adjustment as provided in Section 8 below. Rent is payable monthly in advance to Agency on the first day of each month, in lawful money of thc United States, at the address set forth in Section 11 below, without deduction, setoff, prior notice or demand of any kind. If the Bffective Date of this Lease is other than the first day of the calendar month, Rent will be prorated for the fractional month and the Rent for said fractional month, together with the Rent for the first full month will be payable in advance upon execution of this Lease. 8. Rental Adiustments. Beginning one year following Effective Date, and continuing thereafter on each anniversary of the Effective Date during the Lease Term, as it may be extended ("Anniversary Date"), Rent will be increased by the increase in the Consumer Price Index, provided that in no event shall the Rent be decreased. The increase in the Consumer Price Index means the ATfY/AGR/2013.244/SEQUOIASTATfON LEASEAGREEMENT RE1/:12-19-13 VR 5884508 l Page 4 of 21