20B - AA - INTERNATIONAL BUS LINES SARTC

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4. ADDITIONAL LEASE CONDITIONS: Tenant acknowledges that this lease is subject to compliance with the additional lease conditions attached hereto as Exhibit B. These additional lease conditions are a material part of this lease agreement and any default of these conditions will be deemed a major breach and will subject this lease to immediate termination. 5. EXTENSION PERIODS: Landlord shall have the right, but not the obligation, to provide Tenant the option to extend the Term for four (4) separate consecutive additional periods of one (1) year each on the same terms and conditions as set forth in this Lease. Each option shall be agreed to in writing by the Landlord and Tenant prior to the expiration of the Term or any Extension Period then in effect. If Tenant does not exercise its option to extend as provided herein, Tenant will be deemed, a holdover Tenant and subject to paragraph 7 of this lease. 6. RENT: (a) Tenant shall pay to Landlord, as rent ("Rent"), throughout the Term, the monthly sum of Three Thousand One Hundred and Seventy Eight Dollars ($3,178.00) in advance, on the 1 st day of each calendar month and continuing through the life of the Term. However, payment for the first partial month shall be prorated at $105.95 per day. The Rent includes a charge for Common Area Operating Expenses in the amount of One Thousand Seven Hundred and Twenty Eight Dollars ($1,728.00) and shall be subject to a CPI adjustment annually on the anniversary of the Effective Date during the term hereof. All payments of Rent and other sums due to Landlord hereunder shall be made payable to "The City of Santa Ana" and remitted to: City of Santa Ana M-13, 20 Civic Center Plaza, PO Box 1988, Santa Ana, CA 92702. A LATE CHARGE OF TEN PERCENT (10%) SHALL BE APPLIED TO ANY PAYMENT HEREUNDER DUE BUT UNPAID AFTER THE 10TH. Landlord and Tenant agree that no rent under this Section shall be due until the completion of all improvements made to the Premises by Tenant, as determined by Landlord, provided that the first rent payment shall be due no later than 120 days following City's approval of this Lease Agreement. (b) Landlord and Tenant hereby agree that Rent for any Extension Period, if the option for such is exercised, shall be subject to a CPI adjustment annually on the anniversary of the commencement date of the term hereof. 7. HOLDOVER: Tenant has no right to retain possession of the Premises or any part thereof beyond the expiration or termination of this Lease. In the event that Tenant holds over, then the Rent shall be increased to 150% of the Rent applicable immediately preceding the expiration or termination. Nothing contained herein shall be construed as consent by Landlord to any holding over by Tenant. Any holding over by Tenant of the Premises after the expiration or termination of this Lease shall operate and be construed as a tenancy from month to month on all terns of this Lease, terminable by either party upon thirty (30) days prior written notice to the other. 8. COMMON AREA OPERATING EXPENSES: (a) "Common Area Operating Expenses" are defined, for purposes of this Lease, as all costs incurred by Landlord relating to the ownership and operation of SARTC, including, but 20B-16