Laserfiche WebLink
situated parcels most recently transferred. Exempt transfers, as defined in Paragraph <br />3.13(3), shall not be used to calculate Average Actual Sales Value rent. <br />(3) "CPI" shall mean the Consumer Price Index - Los Angeles -Anaheim -Riverside Area, <br />All Urban Consumers, All Items, published by the United States Department of Labor, <br />Bureau of Labor Statistics (1982-1984=100). If the 1982-1984 base of said Consumer Price <br />Index should hereafter be changed, then the new base shall be converted to the 1982-1984 <br />base and the base as so converted shall be used. In the event that the Consumer Price <br />Index, as now compiled and published, shall cease to be published, then the successor <br />index shall be used provided that an appropriate conversion from the old index to the new <br />index can feasibly be made. If such conversion cannot be made, or if no such index is <br />published, then another index most nearly comparable thereto recognized as authoritative <br />shall be substituted by agreement. <br />(4) "Current Lessee" shall mean the person or persons who, as of April 1, 1994 (the <br />"Cut-off Date"), was or were the Lessee under the Pre-existing Lease. <br />(5) "Deferred Rent" shall mean the total rent that a Current Lessee would have paid <br />had this Lease been executed on the Effective Date, through and including the date on <br />which this Lease was first executed, less the rent actually paid pursuant to the Pre-existing <br />Lease, together with interest at the rate of eight percent (8%) per annum calculated on the <br />balance due at the end of each Lease Year or portion thereof. <br />(6) "Effective Date" shall mean July 1, 1994. <br />(7) "Execution Date" shall mean the date when this Lease is executed by Lessee. <br />(8) "Initial Rent' shall mean the effective net rent for the Leased Land as determined <br />by the appraisal of George Hamilton Jones, with due consideration to the leasehold <br />advantage created by the Pre-existing Lease, all as shown on Exhibit C attached hereto <br />and incorporated herein by reference. <br />(9) "Person" shall mean any natural person or natural person(s) and does not include <br />any corporation, association, or business entity in any form except a financial institution or <br />other bona fide lender acting in the capacity of a lender or an inter vivos or living trust. <br />(10) "Pre-existing Lease" shall mean the Lease for the Leased Land which was effective <br />on January 1, 1988, and would, absent this Lease, expire on July 1, 2006. <br />:_ <br />(11) "Transferred" shall mean any sale, assignment, sublease or other transaction, other <br />than an exempt transfer as defined in Paragraph 3.6(3), pursuant to which the right to <br />possession of the premises and the right to sign a new lease identical to this Lease is <br />transferred to another person. <br />B. Rental Payments. <br />Lessee shall pay annual rent in the sum of ��,_G-ti, k\�k"j �vh.,\vLA Fyg:l, 0o/, d$_ Z 0,240.00 ), <br />payable at the rate of6yy ,,}�op�,aN �\r hu u,flk tiov",,in U71,0($ 1 L b L .107 ) per month. Lessee shall <br />also pay, if applicable, deferred rent in the sum o p <br />($ ) upon execution of this Lease. Rent shall -hall not circle one) be adjusted every <br />seven (7) years after the date of transfer in accordance with provisions of Paragraph 3.6(4). <br />Annual rent, deferred rent, and periodic adjustments are based upon the following: <br />N01 -187371.V2 3 - 05/24/94 <br />