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Year increase on each anniversary of the Commencement Date, which, for the <br />convenience of the parties shall be as follows: <br />Extended Term <br />Lease Year 11 <br />Lease Year 12 <br />Lease Year 13 <br />Lease Year 14 <br />Lease Year 15 <br />Annual Rent <br />$ 40,446.51 $ <br />$ 41,659.90 $ <br />$ 42,909.70 $ <br />$ 44,196.99 $ <br />$ 45, 522.90 $ <br />Monthly Rent <br />3,370.54 <br />3,471.66 <br />3,575.81 <br />3,683.08 <br />3,793.58 <br />Section 2. The President and Secretary of the Board of Port <br />Commissioners of the City of Redwood City are hereby authorized and directed <br />to execute the aforesaid Lease Agreement for and on behalf of the City of <br />Redwood City, acting by and through its Board of Port Commissioners. <br />Section 3. This ordinance shall be effective thirty (30) days after its <br />adoption. <br />Introduced on the 10th day of March, 2021 <br />Passed and adopted as an ordinance of the Board of Port Commissioners <br />of the City of Redwood City this 14th day of April, 2021. <br />AYES, COMMISSIONERS: <br />Kastrop, Duncan, Dodge, Claire, Garcia <br />NOES, COMMISSIONERS: None <br />ABSENT, COMMISSIONERS: None <br />I*sident, B Port Corhmissioners <br />Secretary, Board o Port Commis loners <br />Port <br />3 <br />Cingular 04/14/21 CSK <br />03/10/21 FXS P-283 <br />