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monthly rent of Three Thousand, Five Hundred Fifty Dollars and Zero Cents ($3,550.00). City
<br />shall, commencing on the Commencement Date and continuing thereafter on the first (Ist) day of
<br />each and every month during the term of this Lease, pay to Delhi in advance, such minimum
<br />monthly rent, without setoff, deduction or demand. Every year after the initial year, on the
<br />anniversary of the Commencement Date, the rent payable by City shall be increased by 3% each
<br />year.
<br />Year
<br />Base Rent
<br />I
<br />March 1, 2023 — February 29, 2024
<br />$3,550
<br />2
<br />March 1, 2024— February 28, 2025
<br />$3,657
<br />3
<br />March 1, 2025 — February 28, 2026
<br />$3,766
<br />4
<br />March 1, 2026— February 28, 2027
<br />$3,879
<br />5
<br />March 1, 2027 — February 29, 2028
<br />$3,996
<br />6
<br />March 1, 2028 — February 28, 2029
<br />$4,116
<br />7
<br />March I, 2029 — February 28, 2030
<br />$4,239
<br />8
<br />March 1, 2030 — February 28,2031
<br />$4,366
<br />9
<br />March 1, 2031— February 29, 2032
<br />$4,497
<br />10
<br />March 1, 2032 — February 28, 2033
<br />$4,632
<br />4. Place of Payment of Rent. Rent and all other sums which shall become due under
<br />this Lease, including but not limited to late charges and additional rent, shall be payable by hand
<br />delivery or mail at the office of the Delhi located at 505 E Central Ave, Santa Ana, CA 92707, or
<br />at such other place as Delhi may designate from time to time in writing. Parties may agree to
<br />change to electronic payment, subject to City's accounting procedures.
<br />5. Condition of, and Improvements to. Premises.
<br />(a) Improvements.
<br />(i) Delhi shall have the obligation to clear out rooms of furniture and
<br />non -fixed items that are located within the Premises to another location prior to the
<br />Commencement Date of this Lease.
<br />(ii) Under this Lease, City, at City's expense, shall have the right to
<br />improve the Premises and/or the exterior of the building housing the subject Premises (the
<br />"Building") such that it is appropriate for use as a modern public library space. Any improvements
<br />shall be made only in accordance with applicable federal, state, or local codes, ordinances, or
<br />regulations, having due regard to the type of construction of the Building. Such improvements, if
<br />removable, shall remain the property of City at the termination of this Lease. City is not required
<br />to return the Premises to a pre -Lease state upon termination of the Lease. In consideration of this
<br />provision, City shall pay to Delhi a one-time, non-refundable sum equal to the monthly rent at the
<br />time of the termination. City shall share plans of design and improvements with Delhi for
<br />coordination purposes so as not to hinder Delhi's operations, however, Delhi's permission shall
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