HomeMy WebLinkAbout1962 (b) For nur~osas o~ cslcu~ating increases in
rent due hereun~er, "The Cor.sa.::er Prica ~ndex, U.S. City Avera~;e,
Ail Iter~s" (1957-59 = 100) +vu.,7i1~:~8C ~y tt~.e Bureau of Labor Sta:.is~ics,
S. Department ot :.abor, shu11 ne Lsed, wY~.ich is hereinafter ca~~ed
~1E; "Index" . IA ~'1@ even ~'~llE iZ:Ct?~i~~ 1S discont~inued, tYl@ BUr~ali
o~ Labor Statistics shall be ~egueste~ to ~rovide a comparaale suc- ~
cessive index which will tilzrea~ter be used as tne "Index".
(c) O;~ t'r+e .:irs ~ GG.~ of 3anuary, 1974, and or. t:e
:irst day of January of eac:: tt-.ird C3i2i.dar year :herzafter, t:~e r.e ~
. o:.t'r.iy rental for the peri~on ~ro 4::cr. until t::e next adjusz.-:~ent da~e
~:a21 be determined by m•alti~:.yir.g ;
i:c net :r~onthly rent of $588. uu by
t:ze "Index" for the month o~ ~cto~er a~ ~.:e year preceding the da~e
of adjustment and dividing ~..`~e proc~;.:. :.~iereof by the "Innex" ~or
:.l~.e mont:z of January 19 71. T:e ad~ us ~.;~d net monthly rent as aeter.;,i.:.ec
anove shall be in eifect u:~t~? t~:e :.ex:. date of adjustment o~ re:.:..
cIowever, the rent sr.a17: r.ever :.e ye~$ ~.:.an $588.00 per month for ar.y
period and shall never be ren~;ced beZcw $588.00 per month by reaso:.
of the rent adjustment provi~ed ~or herein.
6.3. General Provisions.
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E (a) All re;~t s'r.ail ~e payable in current lega~
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` te:,der of the United States of A:r.erica as ~.'~e saa:e is constituted
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~ ny iaw at the time when rent ~eco:r,es due.
(b) Rent shal~ be pGyable at such place or pi~ces
as t~e Lessor shall from tim.e to tir..e direct, in writing, a~ ci unt~i
~ notice of change being give:~, a~2 r~r.t sha~l be payable at the p~a~e
notice is required to be give:~ to t~:e ~essor as set forth :~ere~:..
~ (c} Exter.tic:~s or c:~anyes by the Lessor in t:.e
~ :aanner of time of pay~r~er.t o~ ren~ s;.ay~ r.ot be construed as a waiver
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~ or change upon any sub~eguer.t occ4s~c
~ (C~~ All r@ritc:~ pdi~:;.2:i ~S S12d11 lJE: "r.et" t0 't:.c
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~ Lessor and the Lessor shall :o~ be rzc~ired to pay any of the expenses
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~ i89 +~1~6
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