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<br />DO NOT RECORD617/06 <br /> <br />Rider attached hereto and incorporated herein. Failure of Tenant to fulfill <br />said obligations shall be valid reason for terminating this Agreement and <br />not exercising any options to renew. <br /> <br />(b) Notice of intent to vacate or termination of the landlord-tenant relationship <br />is only valid with at least ninety (90) days prior written notice to the other <br />party. <br /> <br />Section 1.03 Rent/Security Deposit <br /> <br />(a) Upon the Commencement Date, Tenant shall pay to Landlord monthly <br />compensation in the amount of $2,275.00 per month for use of the Premises. <br />Rent payments will be due upon execution ofthis Agreement and thereafter <br />on or before the 5th of each month, payable to "The City of Santa Ana" and <br />remitted to: The Depot at Santa Ana, 1000 East Santa Ana Blvd., Suite 108, <br />Santa Ana, CA 92701. A late charge often percent (10%) shall be applied <br />after any payment hereunder is due but unpaid. In addition, one and a half <br />percent (I Yz%) interest per month shall be added for each month that payment <br />hereunder is due but unpaid. <br /> <br />(b) Tenant has previously deposited with Landlord the sum of$I,OOO.OO as a <br />security deposit. The deposit will be held without liability for interest as <br />security for faithful performance by Tenant. <br /> <br />(c) Rental Increases: For each subsequent year of the lease, Lessee shall pay the <br />then current Rent, increased by any percentage increase which occurred in the <br />Consumer Price Index as published by the United States Department of Labor <br />Bureau of Labor Statistics, for All Consumers for the Los Angeles, Riverside, <br />Orange County, CA Metropolitan Statistical Area, calculated as of the month <br />of May, annually, going into effect each July. Such increase shall be no less <br />than one percent (I %) and shall not exceed five percent (5%) of the Rent for <br />each subsequent year. <br /> <br />(d) Rent for any period during the rental term which is less than one (I) month <br />shall be a prorated portion of the monthly installment herein, based upon a <br />thirty (30) day month. <br /> <br />(e) Any holding over after the expiration of the Term or Option periods, with the <br />consent of Landlord, shall be construed to be an extension from month to <br />month at the rents herein specified and shall otherwise be based on the <br />conditions herein specified, so far as applicable. <br /> <br />Section 1.04 Non-Recording <br /> <br />Neither party shall record this Agreement. <br /> <br />2 <br />