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<br />/0 -8// <br /> <br />5. Use of Premises: The premises shall be used for development and operation of a Child <br />Care Facility in substantial conformance with Attachment 3 ("Project Description") <br />during the entire period of the lease and any extensions granted therein. The facility shall <br />consist of approximately 12,000 to 13,000 nrsf devoted to a childcare facility legally <br />capable of serving at least 150 children. This use restriction will be guaranteed by <br /> <br />appropriate lease and deed restrictions and any material violation shall be considered a <br />breach, resulting in cancellation of the lease. An additional 5,000 nrsf may be developed <br />for any legally permitted use which is compatible with Child Care. The Lessor shall have <br />a right to review and reasonably approve this use applying compatibility standards such <br /> <br />as safety and security. To the extent Lessee receives a yearly net weighted average of <br />more then $4.50/sfNNN per month (constant year 2,000 dollars net of all expenses), for <br />the remaining 5,000 nrsf during the initial lease period, lessee shall pay to Lessor 50% of <br />this excess amount as additional land lease rent. The $4.50 threshold shall be escalated <br /> <br />annually beginning January 1, 2001 based on the CPI for the SF metropolitan area. <br />Lessor shall consider utilizing any additional lease rates generated for Child Care <br /> <br />purposes. <br /> <br />6. Lessee Responsibility: Lessee shall assume liability for and be responsible for all costs <br />of developing and operating the property including: <br /> <br />. <br /> <br />Environmental Remediation <br />Geotechnical Remediation <br /> <br />. <br /> <br />. <br /> <br />Off-site access and utility service <br />Shoreline access area improvements <br /> <br />. <br /> <br />. <br /> <br />Maintenance and holding costs of the property normally associated with a NNN <br />lease <br /> <br />. <br /> <br />Comprehensive general liability, fire and property damage insurance in <br />commercially reasonable amounts naming Lessor as an additional insured. <br /> <br />Following execution of this land lease term sheet, Lessee shall be given access to the site <br />and a reasonable period of time to perform due-diligence and to determine the financial <br />viability of the project. <br /> <br />. "T-""~T"'-"""""'" <br />