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EXHIBIT 1 Term of Lease Section 1.02. The term of this lease shall be for a period of eighty-five (85) years commencing on October 16, 2019 ("Commencement Date"), and terminating on October 15, 2104, unless terminated earlier as provided in this lease. ARTICLE 2: FEES Operation and Maintenance Fees Section 2.01. During the term of this lease, District agrees to pay to City, on a quarterly basis, twenty-five percent (25%) of the operation and maintenance expenses incurred by City in caring for the access roads, parking areas and other infrastructure improvements in the Park required to be maintained by the City which are used in common both by park visitors and by college employees, faculty and students. Costs payable by the District under this Section 2.01 shall be payable in equal installments on January 1, April 1, July 1, and October 1, the first payment due under this lease would be January 1, 2020, subject to the City's issuance of the Estimated Statement required by Section 2.02 below. All such costs, and any fees required under this lease shall be paid to City at 20 Civic Center Plaza, P.O. Box 1988, Santa Ana, California, 92701, Attention: Executive Director or Parks, Recreation and Community Services Agency, or any other place or places that City may designate by written notice to District. Estimated Statements of Annual Costs Section 2.02. On an agreed upon date annually during the term of this lease, the City shall deliver to the District the City's good -faith estimate of the costs that will be payable by the District for the upcoming year pursuant to Section 2.01 above ("Estimated Statement"). Annual Reconciliation of Costa Section 2.03. After year end of each year during the term of this lease, the City shall deliver to the District a statement of the actual costs owing by the District under Section 2.01 above for the preceding year ("Reconciliation Statement"). If the Reconciliation Statement reveals that the District's share of those costs is more than the total additional rent paid by the District for the prior year's Section 2.01 costs, the District agrees to pay the City the difference in a lump sum within forty-five (45) days of receipt of the Reconciliation Statement. If the Reconciliation Statement reveals that the District's actual share of those costs is less than the total additional rent paid by tenant for such prior year's costs, the City will credit any overpayment toward the next monthly installment(s) of rent. #iznazVz 75B-5