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<br />, <br />.' <br /> <br />LEASE AGREEMENT BETWEEN <br />CITY OF SAN LEANDRO AND <br />SAN LEANDRO HISTORICAL RAILWAY SOCIETY <br /> <br />THIS LEASE is entered into between the CITY OF SAN LEANDRO, a <br />n1unicipal corporation, hereinafter designated as "CITY", and the SAN LEANDRO <br />HISTORICAL RAILWAY SOCIETY, a nonprofit organization, hereinafter designated <br />as "Lessee" as of this 2 ncl tl1 day of [.'(ftbfr ,2006. City and Lessee l11ay be <br />herein referred to individually as a "Party" or collectively as the "Parties." <br /> <br />Recitals <br /> <br />WHEREAS, the real property hereinafter described is property under ownership <br />of the City; and <br /> <br />WHEREAS, Lessee is a nonprofit organization, the ail11s and objectives of which <br />are to preserve and n1aintain the Davis Street Southen1 Pacific passenger/freight station; <br />and <br /> <br />WHEREAS, the purposes and work of the Lessee are of interest and benefit to, <br />and will promote the general welfare of the people of the City of San Leandro and <br />Central Alameda County, and the City desires to provide a site for Lessee to carry out <br />such work. <br /> <br />NOW, THEREFORE, the Parties hereby enter into this Lease as follows: <br /> <br />1. Description of Premises. City hereby leases to Lessee and Lessee hereby <br />leases from City that certain real property located at Thrasher Park in the City of San <br />Leandro on Orchard Avenue (the "Property"), more specifically described in Exhibit A <br />attached hereto and incorporated herein by this reference. The Property has been <br />in1proved with the Davis Street Southenl Pacific passenger/freight station (the <br />"Premises") which the City of San Leandro owns. <br /> <br />2. Term. City does hereby lease, den1ise, and let unto the said Lessee the <br />Premises for a tern1 of twenty (20) years fron1 the first day of November, 2006, at a rental <br />of One Dollar ($1) per annum, payable annually, the first payn1ent to be n1ade upon the <br />execution hereof and continuing thereafter in advance for each year of the tern1 on the <br />anniversary date hereof. <br /> <br />Lessee may renew this lease for additional terms of five (5) years upon ten11S and <br />conditions to be agreed upon by the parties at the til11e of exercise of this option. It is the <br />intent of the Parties that such terms and conditions will reflect the public benefit derived <br />from Lessee's services during the preceding tern1. <br /> <br />Page 1 of 5 <br />San Leandro Historical Railway Society Lease <br />831625-2 <br /> <br />July 2006 <br />