HomeMy WebLinkAbout0111 RENTAL ~
section 401. Lessee agrees to pay Lessor, monthly in advance, the
st:,;, o~ One Thousand Six Hundred Sixty-six ($1,666.66) Dollars
co:,L~,encing on the first day of the rental term and continuing on the firs
day of each month thereafter (subject to the provisions of Section 402.
r.ereinafter) during the term of this lease. Rental shall be paid on a
~~o rata basis from the date of delivery of possession to date of the
co~:.
;;er,cement of the term.
Sectior. 402. Commeacing with the first month of the sixth (6th)
year o: tha term of this lease, the monthly rental to be paid by Lessee
c:nt:o Lessor hereunder shall be the greater of the iollowir.g:
(1) The amount of the monthly rental paid during ~he first five
years, or
(2) The a~ount of the monthly rental paid during the first five
years multiplied by a fraction, the numerator of which shail
be the U. S. "All Cities" Consumer Price Index of the UniteZ
States Department of Labor, Bureau of Labor Statistics in
~ffect on the date of the commencement of the sixth (6th) year
of tY~.e term of this lease, and the denominator of wnich shall
be said Consumer Price Index in ef~ect on the date of commence-
ment of the tErm of this lease.
Saici rtonrh~.y rental snal~ continue in s~~.ch amount for five years.
' Co.*nraencing witn the first month of the eleventh (llth) year of the ~
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` c:•~- ::his ~eas~, the annuai rental to be paid by Lessee unto Lessor i
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; :::~ieunc::e-r shall be the greater of the following:
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~ ~ il) Tne amount of the monthl~? rental paid during the preceding
~ five years of the term hereof, or _
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~ (2) ~ne amount of the month3y rental paid during the preceding ~
~ five y~ars of the term hereof multiplied by a fraction, the
~ numerator of which sha21 be the aforesaid Consumer Price
~ Index in effect on the date of the commencement of the eleventh
~ (llth) year of the term of this lease, and the denominator of
~ which is said Consumer Price Index in effect on the date of
~ commenceme~t of the sixth (6th) year of the term of this lease,
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~ anc: r~lon ~hly rental sha~l continue in such amount for f ive ( 5) years .
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~i:.~~ ~:,ing herein to the contrary notwithstanding, the rentals for each ~
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~ s;:bsecuent term of f ive years shall never be less than the rentals paid ~
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~X ~uriny t:e prior five year term.
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