Agmt04 Recycled Water (South Ba - Laserfiche WebLink

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~ ) ,,', ~ on the same date. If this Lease is terminated before the expiration date, the easements shall also terminate. The parties agree to execute a Memorandum of Lease referencing these easements, which either party may record. 2. RENTAL. Lessee shall pay Lessor a monthly rental ("Rental") without prior demand, deduction or set-off, on or before the first (1st) day of each month throughout the term of this Lease, at the office of the Manager of the Lessor, or at such other place or places as shall be designated from time to time by Lessor as follows: Lessee shall pay Lessor as Rental for the Leased Premises during the first three years of the Term the sum of 31/100 Dollars ($0.31) per square foot per year. The parties agree that the Leased Premises contains 62,097 square feet and that the initial annual Rental will therefore be Nineteen Thousand Two Hundred Fifty Dollars ($19,250.00) The Annual Rental shall be paid in equal monthly payments. The Rental shall be subject to adjustment (the "Adjustment") every three year lease period (the "Three Year Term") as follows: The basis for computing the Adjustment is the Consumer Price Index published by the U.S. Department of Labor, specifically the revised Consumer - Price Index U.S. City Average for all Urban Consumers All Items, 1982-1984 = 100 for the San Francisco - Oakland - San Jose - CMSA, published by the United States Department of Labor, Bureau of Labor Statistics (the "Index"). The difference between the Index which is in effect on the date of the commencement of a Three Year Term (the "Beginning Index") and the Index (the "Extension Index") which is in effect on the last day of the same Three Year Term is to be used in determining the amount of the adjustment. If the Extension Index has increased over the Beginning Index, the monthly rental for the Following Three 2 1108669.4