FIRST AMERICAN TRUST 1-1987 - Laserfiche WebLink

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RENT ADJUSTMENT(S) STANDARD LEASE ADDENDUM By and Between (Lessor) r,.,~.., (Lessee) ci~ c~ san~. ~-~ Address of Premises: 14~ - 141'7 .q ~=rnw-%]~-.~ ~.~',1',~ z~=,~ c~ q77m Paragraph __ A. RENT ADJUSTMENTS: The monthly rent for each month of the adjustment period(s) specified below shall be increased using the method(s) indicated below: (Check Method(s) to be Used end Fill in Appropriately) 1. Cost of Living Adjustment(s) (COLA) a. On (Fill in COLA Dates): the Rase Rent shall be ad usted by the change if any, from the Rase Month specified below in the Consumer Price Index of the. Bureau Of Labor Statistics of the U.S. Department of Labor for (select one: F1CPI W (Urban Wage Earnem and Cledcal Workers) or.,,,J;~iCPI U (All Urban Consumers), for (Fill in Urban Area): T,.~ An-~l~,= - _~h_'~.., ,_:A=, _ ~ r-~ , All Items (1982-1984 = 100), herein referred to as "CPI" --' b. The monthly rent payable in accordance with paragraph A.l.a. of this Addendum shall be calculated as follows: the Rase Rent set forth in p.~rc~ ! .E _':f the attached Lease, shall be multiplied by a fraction the numerator of which shall be the CPI of the calendar month tw~ .,,.,ht,~s prior to the month(s) specified in paragraph A.l.a. above during which the adjustment is to take effect, and the denominator of which shall be the CPI of the calendar month which is 4we months prior to (select one): [Dthe first month of the term of this Lease as set forth in panagra~'' 3 f"Base Month") or~'[Fill in Other "Base Month")',' ,. , ~'1 . The sum so calculated shall constitute the new mort hly rent hereunder, but m no event, shall any such new monthl'~ren be less than th rent payable for the month immediately preceding the rent adjustment. c. In the event the compilation and/or publication of the CPi shall be transferred to any other governmental department or bureau or agency or shall be discontinued, then the index most nearly the same as the CPI shall be used to.make such calculation. In the event that the Parties cannot agree on such alternative .index, then the matter shall be submitted for decision to the American Arbitration Association in accordance with the then rules of said Association and the decision of the arbitrators shall be binding upon the parties. The cost of said Arbitration shall be paid equally by the Parties. E] IL Market Rental Value Adjustment(s) (MRV) a. On (Fill in MRV Adjustment Date(s): the Base Rent shall be adjusted to the "Market Rental Value" of the property as follows: 1) Four months prior t, what the new MRV will be on the adjustment date. If agreement cannot be (a) Lessor and Lessee shall immediately appoint tvt~v within the next thirty days. Any asso(~iated costs will be split equally (b) Both Lessor and Lessee shall each i determination, in ' ' ti) Within fifteen ("Consultant"- check one) of their choice to act acceptable Consultant to act as a third arbitrator. as to what the actual MR of the arbitrators shall used by the Parties. appointed by one ( the Parties shall attempt to agree upon then: acceptable appraiser or broker to establish the new , or ' ma~ke a reasonable determination of the MRV and submit such Lessor and Lessee shall each select an [] appraiser or r-] broker two arbitrators so appointed shall immediately select a third mutually ird arbitrator reach a decision and whether Lessor's or Lessee's submitted MRV is the closest thereto. The decision of e majority submitted MRV which is determined to be the closest to the actual MRV shall thereafter be (iii) If either ol the Parties fails to appoint an arbitrator within the specified fifteen days, the arbitrator timely I reach a decision on his or her own, and said decision shall be binding on the Parties. (iv) The entire cost of such arbitration shall be paid by the party whose submitted MRV is not selected to the actual MRV. 2) Notwithstanding the foregoing, the new MRV shall not be less than the rent payable for the month immediately precedin! Initials: Initials: · RENT ADJUSTMENT(S) · Page I of 2 For this form, write: American Industrial Real Estate Association, 700 $. Flower Street, Suite 600, Los Angeles, Calif. 90017 ©1997-,American I~dustrial Real Estate Association