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• • <br />year during the term of this lease, LESSEE, at -its own cost, <br />shall furnish to LESSOR a complete audit of its operations dur- <br />ing the preceding fiscal year ending November 30th prepared by <br />an accountant licensed by the State of California. <br />4. LESSEE is hereby granted an option to renew this <br />lease f_or an additional period of twenty-five (?.5) years <br />commencing on the 21st day of August, 1986, and ending on the <br />20th day of August, 2011. This option may be exercised by the <br />giving of a notice in writing of the intention to exercise the <br />same between July 1, 1985, and January 1, 1986. Said notice <br />shall be served on the Clerk of the Council and on the City <br />Manager of LESSOR.. If this option be exercised, LESSEE agrees <br />to pay and LESSOR agrees to accept as rent for the leased <br />property for the new term the following sums: <br />A. During the first ten (10) years, six percent (G o) <br />of the gross business done by LESSEE on all sales and services, <br />excluding food and merchandise plus two percent (2%) of beer <br />and%or wine sales as described in paragraph 3, provided, how- <br />ever, that if LESSEE also exercises an option to renew that <br />certain lease with the Orange County Flood Control Distrir_t <br />dated September 2, 1969, the rental to LESSOR hereunder shall <br />be six percent (60) of one-half of the gross combined business, <br />excepting food and merchandise, as described in paragraph 3 <br />hereof, plus two percent {2~) o.f beer and/or wine sales. <br />B. During the next ten (10) years, seve~~ percent (7~) of <br />6 <br />~ 1 <br />~°' <br />