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Agenda - Council - 03/02/2010 - Special
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Agenda - Council - 03/02/2010 - Special
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3/18/2025 2:32:14 PM
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2/25/2010 4:45:14 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Title
Special
Document Date
03/02/2010
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EXHIBIT C <br />CPI INDEX FORMULA <br />The annual CAM rental rate for the first year following the Initial Term and each <br />succeeding year of all Option Terms shall be increased to the annual CAM rental determined <br />thereof by a formula as follows: <br />CAM Rent = (CAM Rent)+((IR-IL)/IL X CAM Rent) <br />Definitions: IR is the Consumer Price Index for the month <br />which is three (3) months immediately <br />preceding the month in which the second year <br />and each succeeding year commence. <br />IL is the Consumer Price Index for the month <br />which is three 3 months immediately preceding <br />the month in which the Option Term commenced. <br />"Consumer Price Index" shall mean the Consumer Price Index published by the Bureau of <br />Labor Statistics of the United States Department of Labor for Urban Wage Earners and Clerical <br />Workers for All Items (CPI-W) - U.S. City average or shall mean the successor thereto. In the event <br />the Consumer Price Index is converted to a different standard reference base or otherwise revised, <br />the determination of the rent for the second year and each succeeding year shall be made with the <br />use of such conversion factor, formula or table for converting the Consumer Price Index as may be <br />published by the Bureau of Labor Statistics, or if the Bureau should fail to publish the same, then <br />with the use of such conversion factor, formula or table for converting the Consumer Price Index as <br />may be published by Prentice Hall, Inc., or any other nationally recognized publisher or similar <br />statistical information. If the Consumer Price Index ceases to be published and there is no successor <br />thereto, such other index as LESSOR and TENANT may agree upon shall be substituted for the <br />Consumer Price Index, and if they are unable to agree, then such matter shall be submitted to <br />arbitration in accordance with the then existing commercial rules of arbitration of the American <br />Arbitration Association at the American Arbitration Association office nearest the LANDLORD. <br />
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