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INTERNATIONAL TOUR SERVICE
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Last modified
10/17/2024 5:20:47 PM
Creation date
9/5/2024 1:14:42 PM
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Contracts
Company Name
INTERNATIONAL TOUR SERVICE
Contract #
A-1993-102
Agency
Community Development
Expiration Date
10/31/1996
Destruction Year
2003
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0 On <br />CPI IMAL AD.N 1M11NTS <br />The monthly installments of rental, as provided for in Paragraph J of the Basic lease Provisions, <br />shall be adjusted upward at the commencement of every 1-Th month of the term (the "Adjustment Date") <br />to the greater of (i) the minimum adjustment amount, if any, specified in Paragraph J of the Basic <br />lease Provisions, or (ii) an increase based upon a Consumer Price Index formula as follows: <br />The base for computing the adjustment is a revised Consumer Price <br />Index, all items (1967 - 100) for Urban Rage Earners and Clerical <br />Workers, for the Las Angeles/Long Beach/'Anaheim Metropolitan area, as <br />published monthly by the United States Department of Labor, Bureau of <br />Labor Statistics ("Index"), which is published for the third month <br />prior to the date on which the term of this Lease yes as deter- <br />mined by Article 2 of this lease ("Beginning Index"). If the Index <br />published for the third month prior to the Adjustment Date ("Compariaon <br />Index') has increased over the Beginning Index, the monthly install- <br />ments of rental for the Lease year immediately succeeding the Adjust- <br />ment Bate shall be set by multiplying the monthly rental, as set forth <br />in Paragraph J of the Basic Lease Provisions, by a fraction, the nuo- <br />erator of which is the Cnarison Index and the denominator of which is <br />the Beginning Index. In no case shall the adjusted monthly installment <br />of rental ever be less than the installment of basic rent for the month <br />immediately preceding each Adjustment Date. Upon adjustment of the <br />monthly rental as provided in this Article, Owner shall give Tenant <br />written notice of the new monthly rental. <br />If the Index is changed so that the base is changed from 1967 - 100, <br />the Index shall be converted in accordance with the conversion factor <br />published by the United States Department of Labor, Bureau of labor <br />Statistics. if the Index is discontinued or revised during the lease <br />term or any extension thereof, such other governom-ital index or fir' <br />tation with which it is replaced shall be used in order to obtain sub- <br />stantially the same result as would be obtained if the Index had not <br />been discontinued or revised. If there is no such replacement, then <br />owner and Tenant shall mutually select another price index which is <br />satisfactory to both. If the parties cannot agree, then such index <br />shall be selected by three arbitrators in accordance with the rules of <br />the American Arbitration Association, and such determination shall be <br />final and binding upon the parties. <br />ry <br />OWNS S INITIALS: <br />TENANT'S 191TLMS: <br />MAR. 1988 <br />
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