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The rent duriigj the Extended Period is as follows: Extension Lease Year 1 (April 1, 2021 — March 31, 2022) - $15,159/month Extension Lease Year 2 (April 1, 2022 — March 31, 2023) - $15,765/month Extension Lease Year 3 (April 1, 2023 — March 31, 2024) - $16,396/month Extension Lease Year 4 (April 1, 2024 — March 31, 2025) - $17,052/month Extension Lease Year 5 (April 1, 2025 — March 31, 2026) - $17,734/month The Minimum Guarantee at the commencement of the Extended Period is Four Thousand Four Hundred and No/100 Dollars ($4,400.00) per calendar month and is subject to yearly increase not to exceed 5% per Lease Year through the Extended period and the Second Extended Period and the Security Fee is Four Hundred and No/100 Dollars ($400.00) per month at the commencement of the Extended Period and is subject to yearly increase throughout the Extended Period and the Second Extended Period. The First Amendment further provides that the Port will undertake railroad tracks improvements (the "Rail Upgrades") and that Tenant shall, upon completion of the Engineered Drawings for the Rail Upgrades and this Board's approval of this First Amendment, make a one-time payment of Two Hundred Thousand and No/100 Dollars ($200,000.00) to Landlord to cover the partial cost of the Rail Upgrades. The First Amendment is retroactive to March 1, 2021. The payment of Rent, Minimum Guarantee and Security Fee (as said terms are defined in the Lease Agreement) due between April 1, 2021, and the date of approval of the First Amendment (with proper credit for amounts already paid by Tenant), based upon the amounts set forth in the First Amendment, shall be paid within five (5) calendar days from the date of Board approval of this First Amendment. Port Ord P-288 - Clean Harbors 2 Form dated 01 04 22 FXS 01 12 22 Agenda