FIRST AMERICAN TRUST 1-1987 - Laserfiche WebLink

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LEASE EXTENSION A-2000-10 4 THIS LEASE EXTENSION is and is intended to be part of that lease entered into on the 20~ day of April, 1987, by and between S.T.C. Corporation, a general partnership, and the CtTY OF SANTA ANA, a Municipal Corporation, Lessee. RECITALS: It is understood that on February 5, 1992 this property transferred oxamers by Grant Deed #92-6900 from C & T Properties, a partnership, to WILLIS J. CLEMONS AND CLAYTON B. TILLOTSON, each an undivided one-half interest as Tenants in Common. And on Februa~] 5, 1992 by Grant Deed #92- 069098, WILLIS J. CLEMONS, an undivided one-half interest as Tenant in Common transferred the property to FIRST AMERICAN TRUST COMPANY, Trustee of the Clemons Family Trust dated June 30, 1988. On May 16, 1997 the interest o'f Clayton t3. Willotson transferred to Dorothy E. Tillotson as surviving spouse, and on August 21, 1997, Dorothy E. Tillotson'transferred the property to Dorothy E. Tillotson and William C. Tillotson, Trustees of the Dorothy E. Tillotson and William C. Tillotson, Trustees of the Dorothy E. Tillotson 1997 Inter Vivos Trust. The parties hereto agree: 1. Lease Extension: The lease shall be extended for a period of two (2) years. Said period beginning May 1, 2000. 2. Expiration Date: The expiration of the lease shall be April 30, 2002 'Base Rent: For May 1, 2000, through April 30, 2001 the base rent shall be $3029.73 (Current Base $2950.00 + $79.65 CPI Adjustment (April 2000) = $3029.73) 4. Rental Increases: The monthly base rental payable pursuant to Paragraph III above shall be calculated as follows: The base rent payable from the first month of the term of this amendment shall be multiplied by a fraction, the denominator of which shall be the C.P.I. for All Urban Consumers (1967= 100) Los Angeles- Riverside- Orange Co., of April 2000, and each anniversary date thereafter. The increase amount will have a 7% cap with no floor. The calculation for the adjustment shall be made utilizing standard practices for such adjustments as described by the American Industrial Real Estate Association~(&.q 5. Taxes: Lessor shall be responsible for the payment of the property taxes. 6. Insurance: Lessor shall be responsible for the payment of liability and property insurance.