AgdaPkt 2002-02-25 - Laserfiche WebLink

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rental rate shall be escalated annually with the first escalation being effective January 1, 2001, by the same percentage that the Consumer Price Index, All Items, for the San Francisco/Oakland/San Jose metropolitan area (the "Index") has increased during the preceding year, as measured by the Index as most recently published prior to the applicable January 1st date. Notwithstanding the foregoing, fi:om and after the time when the loan from City to Lessee (as described in Exhibit E) is no longer outstanding, the base rental rate for purposes of computing the Threshold shall be $54.00, which amount shall be escalated annually as provided above. Lessor shall consider utilizing its share of such excess rents for childcare purposes." 2. The first sentence of subparagraph 15 a. is hereby amended in its entirety to read as follows: "Subject to the provisions of subparagraph k., Lessee may, at any time and from time to time during the term of this Lease, encumber to one or more lenders (each such party being referred to in this Lease as a "Lender"), by deed of trust or mortgage or other security instrument (referred to herein as the "Leasehold Encumbrance"), all of Lessee's interest under this Lease and the leasehold estate hereby created in Lessee (referred to in this Lease as a "Leasehold Estate") without the consent of Lessor." 3. Subparagraph 15 1. is hereby amended in its entirety to read as follows: "Junior Financing Permitted. Subject to the provisions of subparagraph k., Junior financing is permitted, i.e. there may be more than one loan encumbering the Leasehold Estate at any one time." 4. Exhibit B to Exhibit E to the Ground Lease is hereby amended by deleting the words "plus 150 basis points" from the first paragraph thereof. 5. Paragraph 13 of Exhibit C to Exhibit E is hereby deleted. F:Atty/Agr/ShoresChildcare.amendl 0221023 2