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• Unit Identification 202 North Grand Ave. 204 North Grand Ave. 206 North Grand Ave. 208 North Grand Ave. 210 North Grand Ave. 212-214 North Grand Ave. 216-218 North Grand Ave. Rental Rate $1,957.50 per month $1,631.25 per month $1,957.50 per month $2,392.50 per month $600 per month* $8,739.50 per month $1,087.50 per month Vacation Date Not Currently Vacant Not Currently Vacant June 30, 2012 Not Currently Vacant Not Currently Vacant Not Currently Vacant Not Currently Vacant *The rental rate paid for the residence at 210 N. Grand Avenue reflects a subsidized rental rate. 3. In addition to the amounts set forth in Section 2, within thirty business days following the full execution of this Agreement, City will pay the following amounts to Owner: a. $1,957.50 for each full month 206 North Grand was vacant before the Commencement Date, plus b. an amount determined by dividing $1957.50 by thirty (30) days to calculate a daily rental rate and multiplying the daily rate by the actual number of days in each partial month that 206 North Grand was vacant before the Commencement Date. The payment provided to Owner pursuant to this Section 3 is intended to compensate Owner for the Owner's lost rents from 206 North Grand Avenue beginning on the Vacation Date stated in Section 2 above and ending on the Commencement Date. 4. Owner will promptly notify the City, in writing, if any tenants occupying the Property provide notice to Owner of such tenant's intent to terminate its rental agreement and/or vacate the Property and/or if such tenant actually vacates the Property. The City agrees to pay Owner the Substitute Rent defined in Section 2 above for vacant units. The written notification to City of any additional vacancy shall constitute a mutually acceptable addendum to this Agreement. 5. In consideration for the payments to be made under this Agreement, Owner shall not rent or allow any re -occupancy of a vacated unit by any persons or business entities, unless Owner receives notice from City under paragraph 1(c) above that it will not seek acquisition of the Property for purposes of the Grand Avenue Widening project. 6. Should Owner, in violation of Section 5 herein, re -rent or allow any occupancy of Property, Owner shall be liable to the City and shall indemnify the City and hold the City harmless for and against any and all costs, damages, liabilities and/or expenses, including attorneys' fees and expert witness fees, incurred by the City in enforcing the terms of this Agreement, including any and all Relocation Costs incurred by the City as a result of Owner's breach of this Agreement and/or City's obligation to relocate any tenants of the Property. 7. The City shall not call on Owner to make any improvements to the Property, but Owner hereby specifically covenants and agrees to keep the property in good order and condition. The City will maintain any vacant units consistent with what the tenants have agreed to in their respective leases, including maintenance of tenant's insurance obligations. The City shall also maintain at its expense electricity to any vacated units to facilitate any necessary repairs, and for safety and security purposes. If City obtains possession of the Property before title passes to the City, the City covenants and agrees to keep the Property in good order and condition at its expense until title of the Property is conveyed to the City. (00029870.2 ) 2