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Reso 2005-787
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Reso 2005-787
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Last modified
2/10/2016 3:13:42 PM
Creation date
1/25/2006 1:57:53 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2005-787
Date (mm/dd/yyyy)
04/14/2005
Description
Lease Agmt w/Vanguard Car Rental USA, Inc (1st Addendum)
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<br />I JJC: L..)~C: l'..CJll JUT years eleven \.1 J) lIlIuugn Ilneen t 1)) 01 the J erm shaH be adjusted as ot the first <br />day of the eleventh (II th) year of the Term. The Base Rent for years eleven (I I) tbough flfteen (J 5) <br /> <br />of the Term shall be determined by multiplying the Base Rent payable during the tenth (1 Dth) year <br />of the Term by a fraction, the numerator of which is the Index published for the ten (J Oth) month of <br />such tenth (lOth) year oflhe Term (or if the Index is not published for such month then the Index <br />published for the month closest to, but prior to. such tenth (J Oth) month) (the "Fifteen Year Index "), <br />and the denominator of which is the Ten Year Index. In no event shall the Base Rent for years <br />eleven (11) through fifteen (15) of the Term be less than the Base Rent in effect during the last <br />month of the tenth (10th) year of the Tenn. <br /> <br />The Base Rent for years sixteen () 6) through twenty (20) of the Term shall be adjusted as of the ftrst <br />day of the siXleenth (] 6th) year of the Term. The Base Rent for years sixteen (16) through twenty <br />(20) of the Term shall be determined by multiplying the Base Rent payable during the fifteenth (15) <br />year of the Term by a fraction, the nwnerator of which is the Index published for the tenth (10th) <br />month of such fifteenth (15th) year of the Term (or if the Index is not published for such month then <br />the Index published for the month closest to, but prior to, such tenth (10th) month) and the <br />denominator of which is the Fifteen Year Index. In no event shall the Base Rent for years sixteen <br />(16) through twenty (20) of the Term be less than the Base Rent in effect during the last month of <br />the fifteenth (l5th) year of the term. <br /> <br />Should the Bureau of Labor Statistics discontinue the publication of the Index, or publish the same <br />less frequently, Landlord and Tenant shall mutually agree upon and adopt a substitute index or <br />procedure which reasonably reflects and monitors conswner prices. <br /> <br />EXHIBIT "B" <br />Page 2 of2 <br /> <br />S~B <br />
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