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EXERCISE OF FIRST OPTION OF <br /> LEASE AGREEMENT BETWEEN <br /> THE CITY OF SANTA ANA AND <br /> FIESTA MARKETPLACE PARTNERS #1 <br /> This Exercise of First Option is made and entered by and between Fiesta Marketplace <br /> Partners #1 ("Landlord") and the City of Santa Ana, a charter city and municipal corporation <br /> duly organized and existing under the Constitution and laws of the state of California ("Tenant") <br /> this day of July, 2010. <br /> RECITALS: <br /> A. The parties entered into the Lease Agreement for the rental of space within that certain <br /> building known as 305 E. Fourth Street, Second Floor, in the City of Santa Ana 92701 <br /> ("Property") commencing on August 1, 2009. Said Agreement had aone-year term with two (2) <br /> one-year options, exercisable at the sole option of the Tenant. <br /> B. The parties hereto desire to exercise the first one-year option and increase the rent as set forth <br /> in said Agreement. <br /> WHEREFORE, in consideration of the mutual and respective covenants and promises hereinafter <br /> <br /> contained and made, and subject to all of the terms and conditions of said Agreement, the parties hereto do <br /> <br /> hereby agree as follows: <br /> 1. The "Term of Lease" section of said Agreement is hereby modified by exercising the first one-year <br /> option to extend the Agreement, effective on August 1, 2010 through July 31, 2011. <br /> 2. The "Compensation" section of said Agreement is currently $5,865.00 and shall be adjusted in <br /> accordance with the Annual Adjustment term of said Agreement, with a 2% rental increase, so that the <br /> monthly rental payments shall be $5,982.00, during the term of the first option. <br /> 3. In accordance with section 4 (c), Landlord shall provide the modifications (set forth in detail in <br /> said Agreement) to the Property at no cost to the Tenant so long as Tenant exercises at least one 1-year <br /> option. Landlord shall provide Tenant with documentation pertaining to the cost of the Improvements <br /> prior to the time of execution of this Exercise of Option. <br /> 4. Except as hereinabove modified, the terms and conditions of said Agreement remain unchanged and <br /> in full force and effect. <br /> Exhibit 1 <br /> 25C-3 <br /> <br />