HomeMy WebLinkAboutFIRST AMERICAN TRUST COMPANY (S.T.C. CORPORATION) (3)A�A
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THIS FOURTH AMENDMENT is and is intended to be part of that lease
C, t�/ entered into on the 201h day of April, 1987, by and between S.T.C.
Corporation, a general partnership, and the CITY OF SANTA ANA, a
municipal Corporation, Lessee.
It is understood that on February 5, 1992 this property transferred owners
by Grant Deed #92-6900 from C & T PROPERTIES, a partnership, to WILLIS
J. CLEMONS AND CLAYTON B. TILLOTSON, each an undivided one-half
interest as Tenants in Common. And on February 5, 1992 by Grant Deed
#92-069098, WILLIS J. CLEMONS, an undivided one-half interest as Tenant
in Common transferred the property to FIRST AMERICAN TRUST COMPANY,
Trustee of The Clemons Family Trust dated June 30, 1988. On May 16,
1997 the interest of Clayton B. Tillotson transferred to Dorothy E. Tillotson
as surviving spouse and on August 21, 1997, Dorothy E. Tillotson
transferred the property to Dorothy E. Tillotson and William C. Tillotson,
Trustees of The Dorothy E. Tillotson 1997 Inter Vivos Trust.
The parties hereto agree:
LEASE EXTENSION:
The Lease shall be extended for a period of three (3) years. Said
period beginning May 1, 1997.
11. EXPIRATION DATE:
The expiration date of lease shall be April 30, 2000.
111. BASE RENT:
Commencing December 1, 1997 the base rental rate shall be $2,830.
During the period beginning May 1, 1997 through November 30, 1997
the base rent shall be $3,207.42.
IV. RENTAL INCREASES:
The monthly base rent payable pursuant to Paragraph III above shall
be calculated as follows:
The base rent payable from the first month of the term of this
amendment shall be multiplied by a fraction, the denominator 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.I. of
April, 1997 in which this amendment commences. The increase
amount will have a 7% cap with no floor.
Lessor shall be responsible for the payment of property taxes.
VI. INSURANCE:
Lessor shall be responsible for the payment of liability and property
insurance.
VII. UTILITIES:
Lessor shall be responsible for the payment of all utilities.
VIII. OPTION TO EXTEND LEASE TERM:
If Lessee has fully and faithfully kept and performed all terms,
covenants and conditions of the lease, Lessee shall have two (2)
options to extend the lease for a period of one (1) year for each option
period. Lessee shall provide Lessor with written notification of their
decision to exercise the option to extend the lease one hundred
twenty (120) days prior to the termination of the lease term.
IX. TERMS AND CONDITIONS:
All other terms and conditions contained in the original Lease dated
April 1, 1987 shall remain the same.
"LESSEE"
Date:
APPROVED AS TO FORM
U—STE STORCK
DGpL,ity City Attorn@y
FIRST AMERICAN TRUSTCOMPANY
Trustee of the Willis J. Clemons
Family Trust
Richard C. Murray, Vice President'
s'
Dorothy E. Tiilotson, Trustee
of The Dorothy E. Tillotson 1997
Inter Vivos Trust
"Dorothy E.Aillotson
Date: / — S . . ...... 2�
William C. Tillotson, Trustee of
The Dorothy E. Tillotson 1997
Inter Vivos Trust
William C. Tillotson
Date: /... 9 - �i 9