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ORANGE, COUNTY OF SOCIAL SERVICES AGENCY (2)
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ORANGE, COUNTY OF SOCIAL SERVICES AGENCY (2)
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Last modified
6/4/2019 4:46:29 PM
Creation date
5/30/2019 3:14:31 PM
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Contracts
Company Name
ORANGE, COUNTY OF SOCIAL SERVICES AGENCY
Contract #
A-2019-070-03
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
5/7/2019
Expiration Date
6/30/2022
Destruction Year
2027
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Schedule' d-➢" <br />Extension Options <br />I. Grunt of Option. Subject to all of die terms and conditions of this Schedule'9-1' in connection with Tenant's lease of the Premises, <br />Tenant shall have two (2) options (each an "Extension Option') to extend the term orthis Lease as to the entire Premises then subject to this Lease, <br />each for an additional term (each "Extension Term") of sixty (60) months, subject to and upon the terms and conditions contained in this SchedLile <br />"J_I". The Extension Term shall commence upon the day immediately following the then scheduled Expiration Date, and shall be upon the some <br />terms and conditions as are provided for in this Lease, as then amended, except that: (a) IFTenant falls to timely exercise the Extension Option, the <br />Extension Option (and any other rights to extend or renew the Term) shall lapse and Tenant shall have no further right to extend the Term of ilia <br />Lease, (b) there shall be no further options to extend time Term pursuant to this Schedule 94" or otherwise following the second (2"s) Extension <br />Term, (a) Tenant shall not be entitled to any credit against Rent or any other rent concession or rent allowance or abatement of Rent, except as <br />specifically provided in the definition of the FMRR, (d) the Base Rent for the Extension Term shall be as provided in Section 3 of this Schedule 111- <br />I_' and (a) the Base Year for the Extension Teri shall be the calendar year in which the Extension Term commences. <br />2 Exercise. An Extension Option maybe exercised only by Tenant giving written notice ofexercise (an"Extension Notha'J to Landlord on <br />or before the date that is not more than twelve (12) and not less than nine (9) months prior to die than scheduled Expiration Date. If Tenant does not <br />deliver an Extension Notice to Landlord within the time period set forth above (time being of the essence), then Tenant shall be deemed to have <br />forever waived and relinquished the Extension Option, and any other options or rights to renew or extend the Term off ctive after the then Expiration <br />Date shall terminate. <br />3 Annual Bose Rent. The Base Rent payable forthe Premises during an Extension Temh (the "Extension Term Base Rent") shall be equal <br />to (a) the Rentable Area of the Premises then subject to this Lease, multiplied by (b) the FMRR of the Premises as of the first day (un "Adjustment <br />Date") of such Extension Term, and shall be determined as follows. <br />3.1 IrTenant duly exercises the Extension Option, Landlord shall within thirty (30) days thereafter, deliver to Tenant a written notice <br />(a "Market Rent Notice") of Landlord's determination of what Landlord then believes the FMRR (and Extension Term Base Rent) would be for the <br />Premises daring the Extension Term. <br />3.2 Within ten (10) days after Tamant's receipt of a Market Rent Notice, Tenant shall deliver to Landlord written notice (a "Market <br />➢tent Response Notice") electing either: (a) to accept the FMRR (and Extension Term Base Rent) set forth in the Market Rent Notice, in which case <br />the FMRR (and Extension Term Base Rent) shall be asset forth in the Market Rent Notice, or (b) to reject Landlord's determination of the FMRR <br />(and Extension Term Base Rent), in which case the FMRR (and Extension Term Base Rent) shall be determined in accordance with Schedule'?-3". <br />3.3 IrTenant fails to deliver Tenant's Market Rent Response Notice within ten (10) days after its receipt of Market Rent Notice (or <br />fails in its Market Response Notice to expressly reject Landlord's determination of the FMRR (and Extension Tern Base Rent) set forth in a Market <br />Rent Notice), Tenant shall conclusively be deemed to have accepted Landlord's determination of the FMRR (and Extension Term Base Rent) set <br />Ibrth in the Market Rent Notice. <br />,4B1 11'Chde Center Dr— Go, grVarrra Aim Lease -2- Exhibit I <br />
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