FINAL First Amendment to Pelton Lease 4 25 18_20190805

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2 automatically extend on the annual anniversary of the Effective Date upon payment of rent pursuant to Section 6.” 3. Section 5.c of the Lease, Parking Regulations, is hereby amended (with additions noted by underline and deletions noted by strikethrough) to read as follows: “c. Parking Regulations. Pursuant to Section 6-1-845 of the San Leandro Municipal Code, City shall adopt reasonable parking regulations to govern the use and enjoyment of the Premises. The City may adopt regulations which may include, among other things, regulations pertaining to parking time limits, installation and use of a device or devices that register the amount of time purchased for the parking of a motor vehicle, at the expiration of which the driver may be liable for a fine (“Paid Parking Technology”). The City agrees to confer with Pelton prior to implementation of changes to the parking regulations. Pelton acknowledges that the parking on the Premises shall be available to the general public without restriction and agrees that it shall only have one (1) designated permit-only parking space and one (1) limited time zone (15 minutes) parking space for drop off. Pelton agrees to not post any signage that restricts the use of any parking spaces for Pelton’s owners, agents, employees, tenants, customers, business invitees or specific members of the general public. 4. Section 5.e of the Lease, Safe Condition, is hereby amended (with additions noted by underline and deletions noted by strikethrough) to read as follows: “e. Safe Condition. Pelton shall keep and maintain the Premises in a safe condition for the public at Pelton’s sole expense. City agrees to install, keep, maintain and repair City owned Paid Parking Technology at City’s expense.” 5. Section 5.f of the Lease, Liability for Damages to City Property, is renumbered Section 5.g, Section 5.g of the Lease, Successor in Interest, is renumbered Section 5.h, and Section 5.f of the Lease, Paid Parking Revenue, is hereby added to read as follows: “f. Paid Parking Revenue. The City shall establish paid parking rates and hours for use of the Premises and shall receive revenue from drivers that utilize the Premises from the Paid Parking Technology (“Revenue”). Revenue shall only include revenue generated from the Paid Parking Technology and the City shall be entitled to one hundred percent (100%) of revenue obtained in any other manner. The City shall be entitled to one hundred percent (100%) of the Revenue until __________, 2021. After ___________, 2021, Revenue shall be evenly allocated fifty percent (50%) to the City (“City Revenue”) and fifty percent (50%) to Pelton (“Pelton Revenue”). The City shall collect the Revenue and remit Pelton Revenue to Pelton on an annual basis no later than July 1st of each year. In the event that this Agreement is terminated prior to July 1 st, the City shall remit Pelton Revenue to Pelton within sixty (60) days of termination of this Agreement. Pelton shall annually use $8,000 of the Pelton Revenue to reinvest in the upkeep, maintenance, repairs and improvements of the Premises pursuant to Section 5.d of this Agreement. Any unspent portion of the annual $8,000 share of Pelton Revenue for upkeep, maintenance, repairs and improvements to the Premises shall be used to improve tenant façades and signage. Pelton shall maintain accurate books and records for the duration of this Agreement with respect to Pelton’s use of the