Deed - Estudillo Callan Garage - File 833RA, 1972 pt1

Home

• _ RE:332® l :61 % 73-w 5940 facility shall be the obligation of ATC, payable on completion of work and billing by CITY. 3. PARKING REGULATIONS ATC shall establish and enforce whatever parking time limits it shall from time to time determine to be appropriate. It is under- stood that CITY has no responsibility for the establishment or enforcement of parking regulations on the ground level of said premises. b. TERM OF LEASE The term of this Lease shall be fifty years, commencing on the first day of the calendar month next succeeding the date of execution of this Lease. ATC or its assignee, shall, in addition, have the right to extend this Lease for not more than three periods of ten years each. Exercise of said options shall be by written notice thereof delivered to CITY not less than one hundred eighty (180) days prior to the expiration of the then current term. 5. PAYMENT OF RENT ATC shall deposit in escrow to benefit of CITY rent for the entire initial term in the amount of $17,000.00 upon the execution of this Lease. Rent to ATC or its assignee for each of the ten-year option periods provided for herein shall be one dollar per year. Full rent for each option period shall be prepaid at the commencement of that option period. 6. REPAIRS AND MAINTENANCE ATC shall maintain the facilities related to the use of the ground level of subject PREMISES for vehicle parking in good repair at its own expense. ATC shall not be responsible for any part of the cost of construction or maintenance of facilities related solely to the use of the airspace over subject PREMISES. However, ATC shall permit reasonable access by CITY for the purpose of constructing and maintain- ing CITY facilities on the ground level of subject PREMISES. 7. PUBLIC PASSAGE ATC agrees to the continued free and unobstructed access of the public on any part of subject PREMISES designated by CITY as a driveway -2- 12/19/72/s