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<br />Now, therefore, in consideration of the mutual covenants set forth herein, and for good and
<br />valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
<br />Parties agree as follows:
<br />1. Recitals. The Parties hereby acknowledge the truth of the Recitals set forth above, and
<br />such Recitals are hereby incorporated into this Agreement.
<br />2. The 1959 Lease. The Parties hereby terminate the 1959 Lease upon the Effective Date
<br />of this Agreement.
<br />3. Leased Premises. Subject to the terms of this Agreement Pelton Leases the Premises to
<br />City, and City leases the Premises from Pelton to operate a public off-street parking lot.
<br />The Premises are more particularly described in Exhibit C, attached hereto and
<br />incorporated herein by this reference.
<br />4. Term. The term of this Agreement commences on the Effective Date and shall remain in
<br />full force and effect for one (1) year from the Effective Date, unless terminated by either
<br />Party. Either Party may terminate this Agreement, with or without cause, upon sixty (60)
<br />days’ advance written notice to the other Party to this Agreement. This Agreement shall
<br />automatically extend on the annual anniversary of the Effective Date upon payment of
<br />rent pursuant to Section 6.
<br />5. Use. The City shall have a nonexclusive right to the Premises, whereby City and its
<br />elected and appointed officers, officials, employees, agents and representatives may
<br />enter, exit, and travel upon, over and across the Premises to enforce parking regulations
<br />at any and all appropriate times in accordance with the terms and conditions of this
<br />Agreement (all of the foregoing, collectively, “Permitted Activity”).
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<br />City’s nonexclusive right to the Premises is strictly limited to the Permitted Activity.
<br />Without limiting the foregoing, the Parties agree to comply with all of the following
<br />specific requirements (all of the following, collectively, “Conditions of Use”):
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<br />a. Applicable Laws and Regulations. The Parties shall comply with, and City
<br />shall enforce, all applicable local, state and federal laws, regulations, rules and
<br />orders, including without limitation, all duly passed and adopted resolutions and
<br />ordinances of the City Council, Title 6 of the San Leandro Municipal Code, the
<br />California Vehicle Code and the California Streets and Highways Code. Pelton
<br />shall not operate Pelton Plaza Shopping Center or the Premises in a manner
<br />contrary to the foregoing laws, regulations, rules and orders and shall not enforce
<br />said laws, regulations, rules and orders.
<br />b. Entry Onto Premises. City’s use of the Premises shall not impair, interfere with
<br />or prohibit the activities of Pelton, including without limitation, activities
<br />conducted at Pelton Plaza Shopping Center or the Premises by its owners, agents,
<br />employees, tenants, customers, business invitees or members of the general public
<br />who are on the Premises, except as provided for by this Agreement. City shall not
<br />require prior consent, written or otherwise, from Pelton or its employees, agents
<br />or representatives to enter onto the Premises pursuant to this Agreement.
<br />c. Parking Regulations. Pursuant to Section 6-1-845 of the San Leandro
<br />Municipal Code, City shall adopt reasonable parking regulations to govern the use
<br />and enjoyment of the Premises. The City may adopt regulations which may
<br />include, among other things, regulations pertaining to parking time limits, but
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