Laserfiche WebLink
3 <br />San Leandro Unified School District <br />By: _________________________________ <br />Name: _______________________________ <br />Title: ________________________________ <br />3.TERM OF LEASE: <br />The term of this Lease is five(5) years commencingon _________, 2014(hereafter <br />“Commencement Date”) and expiringat midnight on _________, 2019(hereafter <br />“Expiration Date”), subject to the Extension Option described in Sections3Aand 3B <br />below. <br />A.Extension Option: Landlord grants to Tenant a one-time option <br />to extend the Term of this Lease (the“Extension Option”) for an additional five (5) <br />years (the “Extension Term”). The Extension Term shall commence on the day <br />following the Expiration Date. Tenant may exercise the Extension Option by giving <br />written notice to Landlord not less than one-hundred eighty (180) days prior to the <br />Expiration Date. If any event of default by Tenant is outstanding either prior to or <br />during the time of Tenant’s exercise of the Extension Optionthen Landlord may <br />elect to notifyTenant of Landlord’s rejection of Tenant’s exercise of the Extension <br />Option, whereupon the Extension Option shall be null and avoid. <br />B.Base Rent: The Base Rent shall be $4666.67(Four Thousand <br />SixHundred Sixty-SixDollars, 67/100) per month, or $56,000.00for the first year of <br />the Term. Base Rent shall be increased beginning on the anniversary of the <br />Commencement Date and each subsequent anniversary of the Commencement <br />Dateduring the Termby theincrease intheConsumer Price Index(CPI) for the San <br />Francisco/Oakland/San Jose Bay Area. In no event shall theBase Rent be less <br />than $4666.67per monthduring the Term nor shall Tenant be entitled to any credit <br />because of any decrease in the CPI. All other terms, covenants and conditions of <br />this Lease shall continue unchanged during the Extension Term. Upon <br />commencement of the Extension Term, the Base Rent in year five shall be used to <br />calculate the increase by the CPI for year six based on the procedure above. <br />Thereafter, Base Rent shall increaseby the CPI each year of theExtension Term in <br />accordance with the formula described herein. <br />4.BASE RENTPAYMENT: Tenant shall payLandlordBase Rent and all <br />other sums(“Rent”)as required herein on or before the first of each month. All <br />sums payable by Tenant to Landlord hereunder shall be paid by good check to the