Agenda - Council - 10/23/2018 - Laserfiche WebLink

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LEASE TERMS 1. PREMISES: Landlord hereby leases to Tenant, and his successors and assigns, and Tenant hereby leases from Landlord, for the •Teiuis described in Item 2 of the Data Sheet and upon the conditions hereinafter provided, the Premises described in Item 1 of the Data Sheet. 2. RENTABLE AREA: The Rentable Area of the Premises is estimated to be the paved surface area as part of the land set forth in Item 1 of the Data Sheet. The actual Rentable Area of the Premises consists of 18611 square feet in Parcel 1 and 14,015 square feet in Parcel 2, totaling 32,626 square feet. 3. LEASEHOLD IMPROVEMENTS: Tenant is taking the premises "AS IS" and Landlord shall not be obligated to do any work in the Premises. The Tenant shall maintain the Premises as an outdoor storage facility and parking lot and shall not make any structural changes or make any alteration, decoration, addition or improvement to the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld. 4. TERM: The term of this Lease shall be as • described in Item 2 of the Data Sheet above (the "Initial Term") and shall commence upon the "Commencement Date" as described in Item 3 of the Data Sheet above. 5. OPTIONS: Provided Tenant is not in default hereunder and has performed all of its covenants and obligations hereunder, Tenant may extend the Initial Term of this Lease (hereinafter, the "Options") for an indefinite number of two (2) year Options as to Parcel 1 and an indefinite number of two (2) year Options as to Parcel 2, subject to Landlord and Tenant Agreement. Each Option period shall commence on the first day after the expiration of the Initial Term (the "Expiration Date") upon the terms and conditions, of the Lease, except as set forth below. Tenant shall exercise the first two (2) year Option only by giving written notice to Landlord not later than 90 days prior to the expiration of the Initial Term ("Expiration Date"), and a similar 90 days notice for each Option thereafter. 6. TERMINATION. Tenant shall have the right to terminate the Lease on Parcels 1 and 2, or on Parcel 1, or on Parcel 2, upon providing to Landlord a written notice at least one-year prior to the proposed date of teitnination of the Lease. 5