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In addition, within twenty (20) days after the close of each calendar year of this <br />lease, the lessee shall also pay a percentage equal to 10% of the gross annual sales. The <br />amount previously paid as minimum rental shall be deducted from this annual percentage <br />rental and only the excess, if any, shall be paid to the City as the annual percentage rental. <br />In the event that Lessee is delinquent for a period of (60) days or more in paying <br />to City a rental or other sum payable to City pursuant to this lease, Lessee shall pay to <br />City interest on such delinquent amount at the rate of one percent (1%) per month from <br />the date such sum was due payable until paid. <br />C. TERMINATION BY LESSEE <br />Lessee may terminate this lease prior to the expiration of the term hereof upon <br />providing the City thirty (30) days written notice. <br />IN WITNESS WHEREOF, this document is duly executed on this 5th day of <br />August, 1996. <br />CITY OF SAN LEANDRO, a municipal <br />corporation <br />Approved as to form: <br />ACity Attorney SAN LEANDRO SAILING CLUB, INC. <br />Attest: <br />?� kice talveit, City C rk <br />2 <br />