HomeMy WebLinkAboutFIRST AMERICAN TRUST COMPANY (S.T.C. CORPORATION) (2)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.
TERNS AND CONDITIOAS
All other terms and conditions herein remain the same.
Approved as to Form:
�hdwa -d 20. per
I � . �a
CLQ Attorney
Attest:
a ice @I Guy
the COUncii—I
u s t Company
Trustee of Willis J. Clemons
Family Trust
NLESSEEn
CITY OF SANTA ANA, a Municipal
Corporation of the State of
California
p
—)an' I -E �-67 un g —ay�6 r
Dan '
Approved as toYontont:
David N
City Manager
UESSOR"
C'1 ytn B: Tillotson