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2004-12-20 CC Packet
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2004-12-20 CC Packet
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<br /> <br />any parking lots, and any other common areas outside <br />"City Ball building. <br />. ~. This lease shall commence on July 1, 1986. <br />lease shall. terminate on June 30, 2011. <br />Base Rent. <br /> <br />. .~;. <br /> <br />,~.~.;:::::::;o::- <br /> <br />~ <br />" <br /> <br /> <br />(a) Minimum Base Rent. Tenant shall pay Landlord b~se.. <br />rent, commencing July 1, 1986, in a minimum amount <br />of $4,500.00 per year, plus any adjustments as set <br />forth in paragraph 3tb). Base rent for 1986 shall <br />be $2,250.00, and base rent for 2011 shall be one- <br />half of the amount that would he paid during that <br />year in the event the lease would continue for the <br />entire calendar year 2011. Base rent for each <br />year shall be paid in equal monthly installments <br />on the first day of each month. <br />(b) Escalation of Base Rent. At the commencement of <br />each calendar year" after 1986, the annual base <br />rent to be paid 'during that calendar year shall be <br />increased by the greater of the fo110wing: <br />,lr-- '.rhree--pe-~en-t(-3')-of__the_to~a1 Ease rent <br />paid during the previous calendar year, <br />ex~ept that for ~he calendar year 1987 the <br />incr~ase shall be a minimum of $135.001 or <br />(2) The percentage by which the consumer price <br /> <br />-- - <br />lnQex-for-ne=mimeapoli~ct=."--PaU~~-~'-~ <br />metropolitan area as of the commencement of <br />the calendar year for which the base rent is <br /> <br />- 2 - <br /> <br />
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