FIRST AMERICAN TRUST COMPANY (S.T.C. CORPORATION

Home Browse Search

monthly Base Rent be less than the Base Rent payable for the month immediately preceding the date for the rent adjustment. In the event the compilation and/or publication of the C.P.I. shall be -transferred to any other governmental department or bureau or agency or shall be discontinued, then the index most nearly the same as the C.P.I. shall be used to make such calcula- tions. In the event that Lessor and Lessee cannot agree on such alternative index, then the matter shall be submitted for decision to the. American Arbitration Association in the County in which the Premises are located, in accordance with the then rules of said association and the decision of the arbitrators shall be binding upon the parties, notwithstanding one party failing to appear after due notice of the proceeding. The cost of said Arbitrators shall be paid equally by Lessor and Lessee. Lessee shall continue to pay the rent at the rate previously in effect until the increase, if any, is determined. Within five (5) days following the date on which the increase is determined. Lessee shall make such payment to Lessor as will bring the increased rental current, commencing with the effective date of such increase through the date of any rental installments then due. Thereafter the rental shall be paid at the increased rate. 5. ADJUSTMENTS TO RENT: Real property taxes, assessments. Lessee shall pay to Lessor upon demand, all real property taxes levied and assessed upon the building and the land upon which the building is situated which are in excess of the Real Property taxes assessed for the year 1986-1987 in the sum of $789.82. 6. RENT: WHEN DUE: WHERE PAID: All monies payable by Lessee to Lessor under this lease shall be deemed to be rent and shall be payable and recoverable as rent in the manner herein pro- vided and Lessor shall have all rights against Lessee for default in any such payment. Rent shall be paid to Lessor in advance, on the first day of each calendar month, during the entire term of this lease, without deduction or set-off, in legal to-hder of the jurisdiction in which the Building is located at the address of Lessor as set forth, or to such other person or entity or to such other address as Lessor may designate in writing. Lessee's obli- -2-