HomeMy WebLinkAbout2242 On the fifth anniversary of the commencement date of
this lease, and at the end of each fifth (5th) year thereafter
during the term of this lease, the annual rental shall be
adjusted so that it shall be such sum of money as is equivalent
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to the purehasing power of a sum equal to the annual rental
hereunder as of the commencement date. Such annual rental
shall be computed by multiplying the annual rental at the
commencement date by the average index number of retail commodity
prices for the month of January last preceding the date of
adjustment and dividing the result by the index number for r
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the calendar month immediately preceding the commencement
date of this lease. The index numbers to be employed are
the index numbers of retail commodity prices designated
"Consumer Prices Index - All Items (1967 = 100)" prepared
by the Bureau of Labor Statistics of the United States Department
of Labor. Any publication by either United States Department '
of Labor or the United States Department of Commerce in which
such numbers are published shall be admissible in evidence ;
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in any legal or judicial proceedings involving this lease
without further proof of authenticity. In the event the United
States Department of Labor ceases to prepare and publish such
;
~ retail commodity index information, the adjustment of rent
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~ thereafter shall be according to the most comparable commodity F
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index as determined by agreement of the Lessee and.the Lessor, 's.
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and in the absence of such agreement, then as determined by i
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arbitration in accordance with then existing laws of the American ~
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Arbitration Association. In the event of any delay in establishing #
adjustment of the rental, Lessee shall continue to pay the
rent as established by the last price adjustment until such
~ time as the required adjustment is determined, at which time
~ an accounting will be made retroactive to the beginning of
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~ the adjustment period in question.
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~ Notwithstanding the foregoing provisions, the annual
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rental required to be paid under this lease shall never be
less than the annual rental specified in Article 3.
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