~~ :. ~~
<br />California; thence, in a general Southwesterly direction, following
<br />along the line described in said Quitclaim Deed to an intersection
<br />with the Northwesterly prolongation of that certain course having a
<br />bearing of South 62 2° East, in the Deed to Towner. Manufacturing
<br />Com~ary recorded ~~Tarch 13, 1946 in Book 1399, Page 362, Official
<br />Records of Orange County, California; thence Southeasterly, along
<br />said prolongation, to the most Northerly corner of the property
<br />described in said Deed to !Towner i~hanufacturing Company; thence
<br />ortheasterly, in a direct line, to the most Westerly corner of that
<br />certain property conveyed to the City of Santa Ana, California, as
<br />described in Book 2516, Page 264, Official Records of Orange County,
<br />California; thence Northeasterly, along the Northwesterly line of
<br />said property conveyed to the City of Santa Ana, 780.00 feet, more
<br />or less, to an intersection with the Northwesterly prolongation of
<br />the Southwesterly line of Lot 185, Tract Teo. 1724, as shown on a
<br />T~tap thereof recorded in Book 51, Pages 24, 25 and 26, Jiiscellaneous
<br />l~~lap;s, Records of Orange County, California; thence S. 53° 58' 44" E.,
<br />along said prolongation, 102.75 feet to the Westerly corner of said
<br />Lot 185, Tract No. 1724; thence Northeasterly, along Subdivision
<br />lines 571.72 feet to the most Westerly corner of Lot 64, Tract
<br />No. 2122, and the point of beginning.
<br />Above described property outlined on Yiap attached hereto, marked
<br />"Exhibit A" .
<br />2. TER~'I: ~l'he term of the within Lease shall be for twenty-five
<br />(25) years, commencing on the 21st day of August, 19Ei1, and ending on
<br />the 20th_~~ of Au~ust~ 1986.
<br />3. RENT: LESSEE agrees to pay and LESSOR agrees to accept as
<br />rent for the leased property for the term of said Lease the following
<br />sums:
<br />A. During the nine (9) years beginning on the 21st day of August,
<br />1962, and ending on the 20th day of August, 1971, three percent (3/) of
<br />the gross business done by LESSEE on all sales and services, excepting
<br />food and merchandise.
<br />B. During the next ten (10) years, four percent (4%) of the gross
<br />business as defined hereinabove.
<br />C. During the next five (5) years, five percent (5`/) of said gross
<br />business as defined hereinabove.
<br />D. Said amounts of rent herein provided for shall be due as
<br />follows: The first payment hereafter shall be due upon the first day
<br />of January, 1965, and shall be the rent for the period beginning
<br />October 1, 1964, through December 31, 1964, and rent thereafter shall
<br />become due quarterly on the first day of April, the first day of July,
<br />the first day of October, and the first day of January of each and
<br />every year thereafter, all payments hereafter, excepting the last
<br />payment, to be upon a calendar quarterly basis and to be paid in
<br />-2-
<br />
|