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<br />\:¡tj::'j <br /> <br />Lessee shall have prior experience in the operation of similar <br /> <br />home s . <br /> <br />The term of the lease is forty-nine (49) years. <br /> <br />The rental <br /> <br />is as follows: <br /> <br />(1 ) <br /> <br />(2) <br /> <br />While the leased premises are used for the <br />purposes set forth in paragraph 4 of the lease <br />agreement, or for any other purpose determined by <br />Lessor to be a "Public purpose" within the meaning <br />of Article 16, Section 6 of the California <br />Constitution, the yearly rental shall be $10.00. <br /> <br />If the Leased Premises ceased to be used for other <br />than the uses indicated in paragraph 1 above, the <br />amount of rent shall be adjusted to the fair <br />market rental value of the Leased Premises at the <br />time of such change in use. In the event that <br />Lessor and Lessee's proposed assignee are unable <br />to agree to the monthly fair market rental value <br />of the Leased Premises, Lessor and Lessee shall <br />use the procedure detailed in paragraph 20 of the <br />subject Lease Agreement to determine the fair <br />market rental. <br /> <br />Bids shall be submitted on the form provided therefor, which <br /> <br />forms are available in the office of the City Clerk, and must be <br /> <br />signed by an authorized representative of the bidder, sealed, and <br /> <br />plainly marked IIBid - Lease of City Land.1I <br /> <br />No bid may be withdrawn for a period of 30 days after the <br /> <br />date set for the opening thereof. <br /> <br />regular <br /> <br />The Council of the City of Redwood City will, at its next <br /> <br />meeting <br /> <br />subsequent <br /> <br />to <br /> <br />the <br /> <br />date <br /> <br />herein <br /> <br />fixed <br /> <br />for <br /> <br />submitting bids, consider all bids submitted. <br /> <br />The Council of the City of Redwood City reserves the right <br /> <br />to reject any and all bids and to waive any irregularities or <br /> <br />informalities in any bid. <br /> <br />JAMES M. SMITH, City Manager <br />2 <br /> <br />.Tr <br />