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Page 11 of 35 25. Lessee shall comply with all existing and subsequently enacted laws or regulations promulgated by the federal, State, and local agencies having lawful authority and jurisdiction over the facilities within the Lease Premises. 26. All future repairs or structural modifications to any part of the facilities within the Lease Premises will require prior review and approval of the Lessor. In the event of an urgent repair requiring immediate action, Lessee shall contact the Commission's 24-hour emergency notification number (562) 590-5201. 27. Consideration: a) Terrestrial Land Appraisal and Rent Adjustment i. Lessor will conduct and pay for a formal appraisal of the terrestrial land within one (1) year of the Effective Date. If the formal appraisal yields a higher rental amount for the terrestrial lands, then Lessee’s rent for the terrestrial lands shall be adjusted upwards and such adjustment will be memorialized in amendment to this Lease. If Lessee disagree with the appraisal amount, Lessee may procure its own appraisal of the terrestrial land. If Lessee’s appraisal yields a different amount, the Parties shall meet and confer and make good faith efforts to agree on an appraisal amount. If the Parties are still unable to agree on an appraisal amount, then the Parties’ appraisers shall identify and agree on a third appraiser to conduct an appraisal. The Parties agree to accept the third appraiser’s appraised value. Lessee shall bear any costs associated with all appraisals subsequent to Lessor’s appraisal. If the third appraisal is less than the original rental amount for the terrestrial lands, the Lessor is not obligated to adjust the rent downwards. b) Annual Rent Adjustment i. Except as otherwise provided herein, rent specified in Section 1, Consideration, of this Lease (Base Rent) and any other amounts owed for the first year of the Lease shall be due and payable without deduction, delay, or offset within 60 days following Lease authorization. If Lessee does not remit the full amounts owed on or before the due date, penalties and interest shall accrue on any unpaid portion owed pursuant to Section 3, Paragraph 3. ii. Notwithstanding the provisions of Section 3, Paragraph 3(c), beginning June 5, 2024, the Base Rent specified in Section 1 will be adjusted annually by the shelter component of the Consumer Price Index (CPI).Lessor may provide a courtesy invoice 30 days prior to the date rent is due specifying the updated rent at the address currently on file for the Lessee. If Lessor does not send a courtesy invoice, Lessee shall submit rent in the amount of the prior year's rent when due and contact Lessor within 30 days to determine the balance due. Lessee acknowledges that such invoicing is for Lessee's convenience and that Lessor's failure to invoice shall not