FIRST AMERICAN TRUST COMPANY (S.T.C. CORPORATION) (2)

Home Browse Search

I . I � " . - () 5 - I THIRD AHENDHENT TO LEASE THIS THIRD AHIINDMENT is and is intended to he part of that, lease entered into on the 20th day of April, 1987, by and between S.T.0 Corporation, a general partnership, and the CITY OF SANTA AAA, a Municipal Corporation, Lessee. RECITALS: It is understood that on Fel)ruary 5, 1992 this property transferred ownerB by Grant Deed #92-6900 from C & T PROPERTIES, a varLnership, to WILLIS J. CLEMONS AND CLAYTON B. TLLLOTSON, each all undivided one-half interest as Tenants in Common. And on February 5, 1992 by Grant Deed #92-069098, UILLLS J. CLnHONS, an undivided one-half interest as Tenant in Common transferred the property to FIRST AMERICAN TRUST COMPANY, Trustee of The Clemons Family Trusti dated June 30, 1908. The parties hereto agree: L. LEASE EXTENSION The Lease shall be extended for a period of five years. Sa i (I period beginning May 1, 1992. If. EXPIRATION DATE The expiration date shall he April 30, 1997. ELI. BASE RENT Commencing lay 1, 1992 the base rental rate shall he $2,900. IV. RENTAL INCREASES The monthly Base Rent payable pursuant to paragraph 3 shall W, calculated as follows: The base Rent payable for the first month of the term of this amendment shall he multiplied by a fraction, the numerator of which shall be the C.P.I. of the, calendar month during which the adjustment is to take effect, and the denominator of which shall be the C.P.T. of April 1992 in which this amendment conmonces. The increase amount. will have a 6% cap with no floor. V. ADDITIONAL COSTS In addition to item TV above there will be a $160.00 per mouth charge for there reimbursement of the excess cost of power used.