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HomeMy WebLinkAbout00042C - LA MANCHA DEVELOPMENT TEXACO LEASE a1 �� o VppM CN RECORDING REQUESTED BY : w RETURN TO: CW1¢ �,/ Q 1 \ a ICIm Ca ERK CITY OF PALM SPRINGS r' BOX 1786 PALM SPRINGS, BA, 972§ AGR 42 - La Mancha Development _ - Properties Ltd - Assignment to CRA of Lease for Texaco Site, f 395 N. Palm Canyon Drive - Res 117, 5-5-82 NO DOCUMENTARY STAMPS REQUIRED ASSIGNMENT OF LEASE THIS ASSIGNMENT OF LEASE is madc , cntored into wind eXecuted on August ', 1982 , in the City of Los Angeles , County of Los Angeles , State of California . RECITALS A . The Parties to this Assignment of Lease are : 1 . LA MANCIIA DEVELOPMENT PROPERTIES , LTD . , A Cii 1 i - fornia Corporation , with of- 1-ices at 1S720 VCI1tUY:l Boulevard , Suite 600 , Encino , CA 91436 , herein- after sometimes called "LA MANCIIA" or "ASSIGNOR" . 2 . COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS , with offices at 3200 Tahquitz- MCCallum Way , Palm Springs , CA 92262 , sometimes hereinafter called "COMMUNITY REDEVELOPMENT AGENCY" or "ASSIGNEE" . Page I z- , . i f B . The real property which is the subject of this Assignment of Lease (the "PREMISES") is located in the City of Palm Springs , County of Riverisde , State of California and is commonly known as 395 Palm i� ¢9 Canyon Drive , Palm Springs , California . It is rti legally described as the East 128 . 75 feet of Lot 5 in Block 23 of Palm Springs as shown by Map on file in Book 9 , Page 432 of Maps , records of San Diego County . C . The Agreement of Lease , as amended , (the "LEASE") which is the subject of this Assignment consists of : 1 . That certain document entitled LEASE dated October 2S , 1954 between Onas M. Ward , Grace Ward , his wife , and John B . Ward as Lessor and The Texas Company as Lessee , a Memorandum of which was recorded in the Office of the County of Riverside County , in Book 1708 , Page 510 , and 2 . A document entitled "MODIFICATION OF LEASE" , undated, but acknowledged on March 19 , 1968 , and 5 . A document entitled "ASSIGNMENT OF LEASE" dated April 1S , 1982 between Texaco Inc . , formerly known as The Texas Company , A Delaware Corpo- ration as Assignor and La Manchi Development Properties , Ltd . , A California Corporation as Assignee , which document was recorded in the Official Records of Riverside County , in Book 1982 , Page 80440 on May 11 , 1982 . D. By mesne transfers and conveyances the fee title to the PREMISES is now vested in Pomona College , a Page 2 corporation, which entity is also the successor to the interest of the landlord under the Lease . r�7 [n r? E . The LEASE provides for an initial term of ten years commencing August 1 , 1956 , and six successive options Of five years each . Pour of said options have been exercised by Texaco ; the current option period expires on July 31 , 1986 . P . By execution hereof , it is the intent of La Mancha to assign all of its right , title and interest in the LEASE including all option rights , together with the tonancy Created thcrehy , to the Community Redevelopment Agency of the City of Palm Springs , subject to the terms , conditions , provisions and covenants contained herein . IN WITNESS WHEREOF, and for good and valuable consideration , the parties agree as follows : 1 . Assignment . For valuable consideration , receipt of which is hereby acknowledged , La Mancha Development Properties , Ltd . , as Lessee , does hereby assign all of its right, title and interest in and to the LEASE, the tenancy created thereby , and all option rights contained therein , to the Community Redevelopment Agency of the City of Palm Springs . This Assignment is made on the terms , provisions , conditions and covenants contained herein and in- cludes all improvements now located upon the PREMISES . This Assignment is also subject to all of the covenants and obligations of Lessee contained in the LFASI! . Page 3 2 . Acceptance by Community Redevelopment Agency . The Community Redevelopment Agency of the City of Palm (z Springs hereby accepts such Assignment . The Community Redevelop- 'CY 411 r' ment Agency further assumes and agrees to faithfully perform each and all of the obligations of La Mancha under the LEASE , .including , but not limited to , the payment of all rentals and taxes for which provision is herein made . 3 . Acknowledgement of Community Redevelopment Agency . By execution hereof, the Community Redevelopment Agency acknowlodgos that it has received copies of the documents do- scribed in Recital C hereof and that it has read , reviewed and understood same . 4 . Tndcmnity . The Community Redevelopment Agency of the City of Palm Springs agrees to save hold harmless and indemnify La Mancha from and on account of any and all liabilities , claims , losses , injuries , damages and judgments made , had , suffered or incurred by La Mancha, including attorneys ' fees , arising from any act , event or omission which occurs after the effective date of this Assignment . This Assignment shall be doemod to be effective as of the date of its recordation, the date of transfer of possession, or August 16 , 1982 , whichever last occurs . Until the effective date of this Assignment , La Mancha shall fully and faithfully perform all obligations to be performed by the Tenant under the LEASE . S . Remedies of La Mancha . Should the Community Redevelopment Agency default under any of its obligations under the LEASE , and should such default not Page 4 • • be cured within fifteen (1S) days of written notice from La Mancha (except as to those defaults which require more than fifteen (15) days to cure , in which event the Community Re- development Agency commences the curative process within such period) , then La Mancha , by prior written notice to the Community Redevelopment Agency may elect to terminate the Assignment made herein and in such event all of the right , title and interest in the LEASE. and the tenancy created there- by shall revert to La Mancha, automatically , and without further act or documentation . This remedy is in addition to all other remedies available to La Mancha under the law , La Mancha ' s foregoing remedies shall not be deemed alter- natives but they , and any other remedies La Mancha may have under the law, shall be cumulative and no failure by La Mancha to avail itself of a remedy shall constitute a waiver with respect to similar or dissimilar future defaults . 6 . Covenant Against Further Assignment . The Community Redevelopment Agency covenants that it will not further assign the LEASE , nor the option terms therein , without the prior written consent of La Mancha which consent will not be unreasonably withheld by La Mancha . Any assignee of good character with a net worth in excess of $1 , 000 , 000 . 00 shall be deemed to be a qualified assignee . The Community Redevelopment Agency has the right to assign this LEASE as full or partial security for any loan or loans made by or through a federal or state chartered bank , savings and loah association, insurance company ,or other institutional lender , whether such loan is made directly or through a mortgage correspondent . Page S 7 R)resentations and Warranties by Ln Mancha . La Mancha represents and warrants the.e Collowing : r« A . The documents described in Recital C are all of: the documents constituting the LEAS]' ; that the LEASE has not boon otherwise modiN ed , altered or amended . B . That all options exercisable prior to the date hereof have been validly exercised by means of correspondence furnished by Texaco to the Landlord , a copy of which has been furnished to La Mancha and by P ,La Mancha to the Community Redevelopment Agency . C . That the LEASH and the tenancy created thereby are in full force and effect and that either Texaco or La Mancha Is not in default thereunder . D. That until the effective date of this Assignment , La Manch❑ will Cully and completely perform all obligations to be performed by the Tonant and that no default will exist ;is of the date of the Assignment . li . That ka Manch❑ has 1110 right and howcr to assign the LLASL; to the Community Redevelopment Agency . P . That La Mancha has the right and power to assign the option terms of the LEASH to the Conununity Redevelopment Agency, C .. 'The Consent to this Assignment is not required from any person indicated in the documents described in Recital C . 11. There, arc no subleases or other tenancy that would interfere with the possession of the premises by the Community Redevelopment Agency , as Assignee herein . The Foregoing representations and warranties arc made by La Mancha in order to induce the Community Redevelopment Agency to execute this Assignment and pay consideration therefor . Page 0 INDEMNIPI CAT LON AGREEMENT In order to induce the COMMUNITY REDEVELOPMENT AGENCY OF abrt TIIII CTTY OP PALM SPRINGS to ❑crept [licit certain Assignment of Lease from LA MANCHA 1WV1SI,011MENT PROP1i1:TIVS , LTD. to the COMMUNiTY REDEVELOPMENT AGENCY , withe respect to the real property commonly known as 395 North Palm Canyon Drive , Palm Springs, California , the undersigned , La Mancha Development Properties , Ltd . , A Californi❑ Corporation , does hereby agree to save , hold harmless and indemnify the ConlmwiiLy Redevelop- ment Agency from and on 'ICCOUnt of any and all loss , liability , injury , damage , cost and expense mode , had, suffered or incurred by the Community Redevelopment Agency as a result oC the failure of La Mancha Development Properties , Ltd. to obtain written consent to the Assignment of Lease by La Mancha DevelopmenL Properties , Ltd . to the Community Redevelopment Agency of the City of Palm Springs . Executed on �— clay o{ August , 1 1,082 - LA MANCI-IA /DE E� 'MENT P ERTIES , LTD . By : I Samue -hn x , President TO 1945 CA (8,74) /I _ t _ (Corporation) ��ANDTRUST TITLE INSURANCE J STATE OF CALIFORNIA r ( SS. AnWRCOMPANT COUNTY OF Los Angeles /1 TOn— AU Pus t l� 19 8 Z before me the undersigned, a Notary Public in and for said State,personally appeared_ SAMUEL BACHNBk known to me to be the -- - - - - - - - - - - - - - - - - - - - --' resident, and w known to-mc-[v be- - - -- - - - - -- - -- - - - Secretary- - , x of the corporation that executed the within Instrument, aknown to me to be the persons who executed the within Instrument on behalf of the corporation therein named, and _ R..{N acknowledged to me that such corporation executed the o. OFFICIAL SEAL within instrument pursuant to its by-laws or a resolution of .'`°`"``` ELIZABETH KENNEpY its board of directors. �4 �. NOTARY PUBLIC - CALI FORNIA t+ WITNESS my hand and official seal { , LOS ANGELES COUNTY o My Comm. expires AUG 11, 198A J Signal n<-%:C! >_/c- `, % Eli,�beth Kennedy S (This area For official o[anal seaU 1 3, Right to Cure . *+ Should the Community Redevelopment Agency assign this LEASE , or any interest therein . as secuxity for a loan,,-loans , or other r�7+ form of indebtedness , , obligat,ion or debt , then such Assignee of the Community Redevelopment Agency shall have the same rights as the Agency to receive notice and cure any defaults as provided in Paragraph S hereof. 9 . Notices . Any notices to be given hereunder by any party to any other , may be effected by personal delivery , in writing , or by registered or certified mail , postage prepaid , with roturn-receipt requested . Mailed notices shall be addressed as follows : ASSIGNOR: LA MANCHA DEVELOPMENT PROPERTIES , LTD . , 1S720 . Ventu.r,a�,.Boulevard , Suite '600 Encino , CA 91436, ASSIGNEE: COMMUNITY ;REL ELOPMENT AGENCY' , OP '1'HL. CI,'1!Y. O1 ';1? 1�LM::$hRJNGS 3200 'Tahq'ui.t.Z" McCallum Way Palm Spr"ing's ,GA .92262 Each party hereto may change,i'ts , address by giving written notice to every other party in accordance, with the terms of this para- graph . Notices delivered personally shall be deemed communicated as of the date of actual ,receJ.' t ; notices delivered by mail shall be deemed communicated as of, the date of the first attempted delivery thereof by the Post Office . IN WITNESS WHEREOF , 'the, p,arties hereto have executed their , hands and seals on the date and year first above written . LA MANCHADEVELOPMENT COMMUNITY REDEVELOPMENT AGENCY PROPERTJE�S , LTD''. OF THE CITY OF PALM SPRINGS By : 8 _'" By : l s Samuel ] hner Prank M. Bogert Pro,,id .nt Chairman of the Be d I Page 7 i o� STATE OF CALIFORNIA " COUNTY OF SS. d n T'1 Riverside On August 16; 1982 o before me, the undersigned, a Notary Public in and for said State, a personally appeared Frank M. Bogert, Chairman aof the Board of 'the Community J Redevelopment Agency of the City of s iPalm Springs w7 zknown to me to be the person-whose name is w subscribed to the within instrument and acknowledged that °w he executed the same. J .`NJTUSjXeLan,d and official seal. OFFICIAL SEAL JC I�t OLIVE 5 MA, publi in and for said S a e. NOTARY PU6LIC - CA IF Ftr_ s. rrARsxA�� RIVERSIDE COUNTY - bly comet, expires JUN 10, 1986J� TO 1945 CA (8.74) (Corporation) J gNDETRUS INSURANCE STATE OF CALIFORNIA l SS.'i .CTICOF COMPANY COUNTY OF Los Angeles /1 On August 12 , 1982 before e, th y�.d signed, a Notary Public in and for said S 4UEL �fINl Cj State,personally appeared `CB known to me to be the President, and , C4 r•. ►fin known to me to be Secretary x of the corporation that executed the within Instrument, w known to me to be the persons who executed the within _ Instrument on behalf of the corporation therein named, and a OFFICIAL SEAL N acknowledged to me that such corporation executed the / N1YRA L. CAANCILLA within instrument pursuant to its by-laws or a resolution of °i'-"" PRINCIPAL OFFICE IN k its board of directors. NOTARY PUBLIC. Li FORNIA{ a + L,OS ANGELES CUUNTY [ WITNESS my hand and official seal. �My Commission Expires April 21, 1984 ` t lr 4 l rL% L.e✓ fC..-vC�C..L.- -�etiJ Signature �/_F�•x� XZ >1 2 A ° /f,*,,VC 4- Iq (This area for can.ial notarial seal) •r L i CERTIFICATE OF ACCEPTANCE THIS IS TO CERTIFY that the interest in real property conveyed by deed dated August 16, 1982 from .nr LA MANCHA DEVELOPMENT PROPERTIES, LTI.3. Grantor, to the CITY OF PALM SPRINGS, a municipal corporation, and the Community Redevelopment Agency of said City. Grantee is hereby accepted by the CITY CLERK of said City, on this 18th day of August 1982 , pursuant to authority granted by the City Council of said City, by Resolution No. 8250 made on the 7th day of December, 1964, and the Grantee consents to recordation thereof by said City Clerk, its duly authorized officer. Dated at Palm Springs, California, this 18th day of August 19 82 (SEAL) OLIVE S. MARSHALL - Deputy City Clerk City_ -of-Palm -Springs-,i -Calif. Rev. 2/82 o o � RECORDING REQUESTED BY: fu C Oup � rl o b. > P W N O WHEN RECORDED MAIL TO: La Mancha Development Propertics, Ltd. R 15720 Ventura Blvd. , Suite 600 �a Encino, CA 91436 ASSIGNMENT OF LEASE This Assignment of Lease is made , entered into and \\\yJ executed on April j-1 1982 in the City of Los Angeles , County of Los Angeles, State of California . f� RECITALS A. The parties to this Assignment of Lease are : 1 . Texaco Inc . , formerly known as The Texas Company, a Delaware corporation , with offices at 3350 Wilshire Boulevard, Los Angeles , California 90010 , hereinafter sometimes called " Texaco" or "Assignor" . 2. La Mancha Development Properties , Ltd . , a California corporation, with offices at Suite 600, 15720 Ventura Boulevard , Encino, California , sometimes hereinafter called " La Mancha" or "Assignee" . , I B. -The real property which is the subject of this Assignment of Lease (the "PREMISES" ) is located in the City of Palm Srings , County of Riverside , State of C> Rp+ California and is commonly known as 395 Palm Canyon 00 Drive , Palm Springs , California . It is legally described as the East 128 . 75 feet of Lot 5 in block 23 of Palm Springs as shown by Map on file in Book 9, Page 432 of Maps, records of San Diego County. C. The Agreement of Lease, as amended, ( the "LEASE" ) which is the subject of this Assignment consists of: 1 . That certain document entitled LEASE dated October 25 , 1954 between Onas M. Ward, Grace Ward, his wife, and John B . Ward as Lessor and the Texas Company as Lessee , a Memorandum of which was recorded in the Office of the County of Riverside County, in Book 1708 , Page 510, and 2. A document entitled "MODIFICATION OF LEASE " , undated, but acknowledged on March 19, 1968 . D. By mesne transfers and conveyances the fee title to the PREMISES is now vested in Pomona College , a corporation, which entity is also the successor to the interest of the landlord under the LEASE . E. The LEASE provides for an initial term of ten years commencing August 1 , 1956, and six successive options of five years each . Four of said options have been exercised by Texaco; the current option period expires on July 31 , 1906 . 2 F. By execution hereof , it is the intent of Texaco to assign all of its right , title and interest in the 10 LEASE including all option rights , together with the Q 00 tenancy created thereby, to La Mancha , subject to the terms , conditions , provisions and covenants contained herein. IN WITNESS WHEREOF, and for good and valuable consideration, the parties agree as follows : 1 . Assignment. For valuable consideration, receipt of which is hereby acknowledged, Texaco Inc . , as Lessee , does hereby assign all of its right , title and interest in and to the LEASE, the tenancy created thereby, and all option rights contained therein, to La Mancha Development Properties , Ltd . , a California corporation . This Assignment is made on the terms , provisions , conditions and covenants contained herein and includes all improvements now located upon the PREMISES . This Assignment is also subject to all of the covenants and obligations of Texaco contained in the LEASE . 2 . Acceptance by La Mancha. La Mancha Development Properties , Ltd . hereby accepts such Assignment. La Mancha further assumes and agrees to faithfully perform each and all of the obligations of Texaco under the LEASE, including, but not limited to, the payment of all rentals and taxes for which provision is therein made. 3 • �.L...l�JIrLi1L•4L. �.w 1 �1 ...uu4.ku...� 3 . Acknowledgment of La Mancha. By execution hereof, La Mancha acknowledges that it has received copies of the documents described in Recital C hereof and that it has read, reviewed and understood same. 4. Indemnity. La Mancha agrees to save , hold harmless and indemnify Texaco from and on account of any and all liabilities , claims , losses , injuries , damages and judgments made, had, suffered or incurred by Texaco, including attorneys ' fees , arising from any act , event or omission which occurs after the effective date of this Assignment . This Assignment shall be deemed to be effective as of the date of its recordation, the date of transfer of possession , or May 1 , 1982 , whichever last occurs . Until the effective date of this Assignment, Texaco shall fully and faithfully perform all obligations to be performed by the Tenant under the LEASE . 5 . Remedies of Texaco. Should La Mancha default under any of its obligations under the LEASE, and should such default not be cured within fifteen ( 15 ) days of written notice from Texaco (except as to those defaults which require more than fifteen ( 15 ) days to cure , in which event La Mancha commences the curative process within such period) , then Texaco, by prior written notice to La Mancha may elect to terminate the Assignment made herein and in such event all of the right , title and interest in the LEASE and the tenancy created thereby shall 4 O CN ' VI revert to Texaco, automatically, and without further act or O X documentation . This remedy is in addition to all other remedies available 'to Texaco under the law . Texaco ' s foregoing remedies shall not be deemed alternatives but they, and any other remedies Texaco may have under the law, shall be cumulative and no failure by Texaco to avail itself of a remedy shall constitute a waiver with respect to similar or dissimilar future defaults . 6. Covenant Against Further Assignment. La Mancha hereby covenants that it will not further assign the LEASE, nor the option terms therein, without the prior written consent of Texaco which consent will not be unreasonably withheld by Texaco . Any assignee of good character with a net worth in excess of $1 , 000, 000 . 00 shall be deemed to be a qualified assignee . La Mancha has the right to assign this LEASE as full or partial security for any loan or loans made by or through a federal or state chartered bank , Savings and Loan Association , insurance company, or other institutional lender, whether such loan is made directly or through a mortgage correspondent . 7 . Right to Cure. Should La Mancha assign this LEASE , or any interest therein as security for a loan, loans , or other form of indebtedness , obligation or debt, then such Assignee of La Mancha shall have the same rights as La Mancha to receive notice and cure any defaults as provided in Paragraph 5 hereof- . 5 . h � Qd 8. Representation and Warranties of Texaco. O Texaco represents and warrants the following: A. The documents described in Recital C are all of the documents constituting the LEASE ; that the LEASE has not been otherwise modified, altered or amended. B. That all options exercisable prior to the date hereof have been validly exercised by means of correspondence furnished by Texaco to the Landlord, a copy of which has been furnished to La Mancha . C. That the LEASE and the tenancy created thereby are in full force and effect and that Texaco is not in default thereunder. D. That until the effective date of this Assignment, Texaco will fully and completely perform all obligations to be performed by the Tenant and that no default will exist as of the date of the Assignment . E . That Texaco has the right and power to assign the LEASE to La Mancha. F. That Texaco has the right and power to assign the option terms of the LEASE to La Mancha. The foregoing representations and warranties are made by Texaco in order to induce La Mancha to execute this Assignment and pay consideration therefor . 6 Q9, Notices. O X Any notices to be given hereunder by any party to any other( s) , may be effected by personal delivery, in writing , or by registered or certified mail , postage prepaid, with return receipt requested. Mailed notices shall be addressed as follows : Name Address LA MANCHA 15720 Ventura Boulevard Suite 600 Encino, CA 91436 TEXACO INC. 3350 Wilshire Boulevard Suite 300 Los Angeles, CA 90010 Attn: Los Angeles Division Manager Each party hereto may change its address by giving written notice to every other party in accordance with the terms of this paragraph . Notices delivered personally shall be deemed communicated as of the date of actual receipt , notices delivered by mail shall be deemed communicated as of the date of the first attempted delivery thereof by the Post Office. IN WITNESS WHEREOF, the parties hereto have executed their hands and seals on the date and year above first written. TEXA INC . By s, F. // M ON, Division t4a ger ` LA MA CHA Q1,V LOPM\ T PROPE TIE By Sh 1r BA NsR, Presider-it I 7 4 � l STATE OF CALIFORNIA ) SS . COUNTY OF LOS ANGELES ) tr O G pp On before me, the undersigned, a Notary Public in and for said State , personally appeared F. H. SIMPSON, known to me to be the Division Manager, of TEXACO INC. , the corporation that executed the within Instrument, known to me to be the person who executed the within Instrument on behalf of the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its by-laws or a resolution of its board of directors . WITNESS my hand and official seal . q f NOTARY PUBLIC STATE OF CALIFORNIA ) SS. COUNTY OF LOS ANGELES ) On April 15 1982 , before me, the undersigned, a Notary Public in and for said State , personally appeared SAMUEL BACHNER, ]mown to me to be the President, of LA MANCHA DEVELOPMENT PROPERTIES , LTD. , the corporation that executed the within Instrument, known to me to be the person who exe- cuted the within Instrument on behalf of the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its by-laws or a resolution of its board of directors . WITNESS my hand and official seal . OFFICIAL SEAL ELZABEIH KENNf_DY NOTARY PUBLIC - CAL1E0r NI/1 111 u: LOS ANGELES COUNTY OFFICIA1. 1_7.,"'� My Comm, expires AUG 11, 1984 'i��i\. ELIZAPETH KENNLDY � NOTARY PULLIC - CAI LF, A LOS ANGELES GOIJNTV _ 8 _ h1y Comm. Cxpu AUGs AU 11, 1984 � 2 ... 19 , yd etw.— .................. Ir, I%,!F ot P.0. Dox 1p4() Palm Springs.................:...... ........... .................... 1..........:................ C'aliforn� , and J01114 (a ruarried i­,mn' dcalinj,� in hJ :,i "Ole and r_ 6. r Uuf,...... ail...&.V.(- nia (losser) and THE TEXAS COMPANY, a Nlavrars coporallon, having a Placo of business art.....9t.9...... ...................._.....(lemon). (1)—Promisee Lowed. Lessor hereby lease, auto 10I a tract of land. With the kaPTov*msntfl thereon, in the aty --------................. Canety. 9L_ v o r e .............................. Slate of........ 'a-nL,) ....... CIESCH130d as follows: Tji(r 2;1!z6a -128. 75 fee The East 12B.75 feet of Lot 5 in Block 23 of Palm Springs, as -9 by Map on file in Book 9 , Page 432 of Maps , records of Sall Die W County . so tr 1-9oll-I Will, oll cwurtanan7os theroto and all riglit, tillo and Iniciost of lan,sor In and'to any and 'all roads,'6tropto and L.unding tho cIid promise.. (2)—Term. TO HAVE AND TO HOLD for the taim of................ from and alter the- ........L��..... ...........................................clay of. .......�llll- ........ ................. .............. Nineteen Hundred A Ij­. ..... ...................... ................... -i'm Ark M—RWUL Loose, agrous to Pay the followhre icrit for raid promhoar— Threk !.un --ed Thirty, Three Dollars rind Thirty Three Cents (W3 -;33 per 111011I_ ., 17 -),,ayablo mollLhly in advance., TI-ic foregoing rental shall 110 Payable to - Ona..�, IV. V,'ard and/or Gl:-ace Ward, hiz wri f e 3 0. 13 NJI'lli ` Pr.:Lngp al 1. Or n ia . 4, inntnihop. and t LosnIso airecs thal rental shall be payablo in monthly It's My ins Itheroof hod If 011= thaii be due =4 unpaid far ten (10) days aftoI written notl� of ouch default ham boon 4011vered to the PlyWort Manager of The Toxas.Cozriani�,, NhOU then h A, terminate this lease on thirty CO) days' written notice to joss have the ritilit Ito L*4060, at its cPtiM May apply at any time ruch ron-W or ararquota due to become due from io� to Joe". Such application shall 1* d6omed pctymatnt -the parniew 11mant thwmaf 6 I J 1 w T� Map FAGIS I Z­,., _,rt_,___ _ __ - - -- �_ ;V,,. �� L )I (0-.ownmmhip cad Nisnoral of RuIlMmryv anal' Property. All buildings, lmprovumontn, flsturns, equipment, and olhor p{op- '. . ;.�1 'Jlm : r,� orty owned by the lennoo, or oroctod or placed on sold promisee by lessee during the torn of this Iselin, or any extmrulon or ronsvr, iharoof, shall be ilia preparly of and belong exclusively to ilia losnco, iroo from any Ilona or oncumbmncoa. II Ir under- stood that the lessee has the right to remays or roplace buildings,fiaturos, abovagromnd equdpmont, underground tanks and other '+$ romovabls property at any time during the term of thin lease at its solo discretion, and that upon the termination of this leans as her©In provided or olhemvino, the losnco shall have Wo right to saver and remove from said promises all buildings,daprovs- !!J mints, fixtures, etlulpmom and odrer'proparty awned by the loosue'or oroced or placed upon sold promisom by the losses. It in �(1 understood, however, that the lessee In under no obligation to rewovo Iho same or any part thereof, but that In the event of lonsaa's forum to do no within thirty (30) days after the dens of the termination of this lease, such buildings and improvements not removed from said promises shall become the solo proporty of the lorsor. "! (6}-Twuma'm Night of Torminatieu. Should lessee be provontcd from oslabilshlnq or continuing the buslnanz of distributing petroleum products on the whole or any part of said pronhisos, duo to any lour, ordinance or regulation by any Federal, State or ' Municipal authority, or to any ronhh:tion on rho domisod prumisas and such restriction 1s not removed within mostly (90) days then the losseo may terminate this lease upon giving thirty (30) days' written notice, in which event the rental obligation shall be pro-rated from the data [hat the losses Is prevented In any manner from doing business on said premises. Il, during ilia term of this lease, a part only of said promises be taken for public use miclor right of eminent domain, and If the remainder, in the opinion of the lessee, 1n not suitable for its purpose, looser, at its option, may cancel and terminate this lease, but if It shall net elect so to do, the monthly rental theroaftur to be paid shall be reduced by on amount which booze the eamo ratio to that harem provided for as ilia area taken bears to the total area prior to such taking. In any event lessee roservos,however, r Its right to claim propitr compensation with respect to Ito interest in [he domisod pramisso so taken or condemned, out of any settlement or award to ho made. (9)-Dlmrages for'Dolocl In 11ta. (a) Lessor covenantal that he is well oofzod of sold promises, has good right to lease lhs same, that said premises are free and clear of all Ilona or encumbrances, except an hereinafter act forth, and warrants and agrees to defend the title thereto; and at lassor'e own expense agroon to Irafeh lessee with an abstract of tin or a title policy brought down to dale; and to rolmburno and hold losses harmless from,all dmoagoo and expensua which lesson may sailor by reason of,-any mstdcton, orcumbranco or dated in each tiro. r (b) Llano-mod-Grruw§ns.-,xw- tj , i (71-Demtrtactlen by lira, etc. If, by lire, earthquake, the elements or any cause not due to lessee's nogligonco, the Im- ' provomonts now or hereafter existing on said promises are destroyed or so damaged as materially to Interfere with tro business of leosoo and/or its oub tonnnts, or any of Thom, lsanoe shall have Iho right at Ito option, to bs oxorcisod within ton (10) days I altar nuch ovsni, to [orminato this lease and shall bo thnreupon ioloanod from all further obllgatlona hereunder. Such tormina- lion shall be ofloctive as of the dale of such deatructlon or damago and lessor shall repay to lessee any rentals paid in advance for the time subsequent to such damage or destruction. i (8)-Taxes. Lessor agrees to pay all taxes and special assessments upon the )arid re.;�l--lxrr ti *...,mer:4a, which are 41 may become 4 lien on the deinieed promises as they become due. It lessor should tail to do Be, lessee shall, have the right to make such payments for the account of lessor, in which event it shall be subrogated to all the rights of the holder of such lien, and in addition thereto shall have the rih,ht to apply accruing rentals in satia£netims o£ Buell obli11 "Itio'n. Lessee agrees to reimburse lessor for all general taxes (exclusive of special assessments) assessed upon the lend owf-fmpsL1wnse,,Aa for any period falling within the term o£ this lease and a proper pre rota part of any such general taxes" - anseased thereon for any period falling partly within said form, within thirty (30) days aft;ax presentation by lessor of } roceipted bills, showing payment thereof. Lessen reserves the right, however, at, its own cost and expense, to contest any tax which it deems to be improper or unreasonable and upon written notice to such effect from lesseq, losnor agrees to cooperate or join with lessee in any application or proceeding to contest or judicially review silly such tea reforred to (, in said notice, {' G77L Clause 1 u-44 DLh: PPP f0)-fl s:aesamuuCn, Lossoo shall in no event be r 'G{;UretY761b for or assumo any obligation to pay any outstanding or future 3 ansasnmonts for street or nfdowalk construction, paving or improvements, street repairs, airoot vrldoningn, sowers, water lined, or onn.nsmonta 4f any dharnctor 1spo,asd wjth rospoct to the domisod promises, and the lessor agrees to assume all obligations t to pay such assossmonla. k (10)--Wator Roots. Loss.. agr.ce to pay all water Tonic,accruing upon said properly for any period falling wholly witil-n are term of thin locmo and g propor pro iota part of any ouch wctor rents for any period falling partly within Paid term. li (ll}-Optlon to Purchase. Lessor hereby yron[o to losioe the oxclualvo right, at lennoo'd option, to purchano the demised F ptomisee, tram and clear of all Ilona and encumbrances, Including lemon(which ware not on the promiaso at the data of thin loaca), at any time during the torn of thlo le rzo or any .ndonalon or ronowal thereof, , th p p� it 1 f 11,4,W�� --Fat-for e-Dorn-oL-::-:---:--::.-:::-a._:.::.-_—::.--:::.__.:::_:::�.-:.:_:.-.-:..:_.da9eaal ,c111� i '7 1k understood that-if any-pari-of-snld prvminva be condemned, the mnrsunLro2n3arv�gosvw^,.ed^r] i I to or accepted-by-lenses-aa-u-resat{-{hereof-uhufl-bo dedtar.6-from--such--pylon, t: i LV 1 (b) on the same terms arid of the same firloa an any bona f1do offer for said iommlaoa received alit - by IGzsQr and which offer lessor doalron to accept. Upon rvcolpt of a bona ffda offer, and each Ilan any such offer in received, lemur (or hie asafgna) shall Immediately notify losaeo, in uniting, I 41 the full details of ouch offer, Including tho name and address of any offaror, whereupon Icenen shall have thirty (30) days after receipt of such nation In which to elect to exarclno leaeoea prior right to purchase. No sate of of nansfor of title to said promises uhall-be binding a,leases unlam -Y and until twos requirements are-hilly cAmpliod 'with,.Any option heroin granted shall•be continuing and pre-omptivo, binding on the lessors hots, clovinace, administrators, executom, or annigna, and the failure of Issues to oxormill so-so In any one case shall not affect lesso 'a right to exorcise such option In other cases thoroaftor cuising dining ilia form of this loose or any exlaaofon or ronowul throof, Lossoo's notice of election to purchase pursuant to ml"Sx %i the cptlona-granted in this clauso shall Ica sufficient if dopooilod F I" the mall addr0000d to lessor at or before midnight of the day on which opllon period oxplrar. p Lessor agraoa upon receipt of such notice, (a) to deposit In escrow with ouch bast or title company as may,be de;7lgnatcd by lassos, a good and sufficient warranty dood conveying the promises to los000,free and clear of all oncumbrancoo (Including, without limiting the faregoIng, the rights of dower and/or martsay), (b) to authorize ouch escrow holder to deliver said dead to €' losses whenever lessee shall pay said price to said escrow holder and make the name cabinet to the order of lessor, (e) to 6; authorizo said sacrow holder to order the title report and the innuranco policy or gumanteo hereinafter roforrod to and pay F the cost thereof and charge same to lessor, and (d) whon roques[od by lessee to furnish lessee with en up-to-date survey by 1`I a licensed or registered professional engineer or surveyor, showing elevations of property and canon marked with concota f monuments. Lease. agrees upon receipt of notice that such dead has been dopoaftod, to deposit said price with said escrow holder with Instructions to accept said dood and fmnhodfatoly upon acceptance to record Iho acme and pay said price to leanor, ?" but only upon condition that a responsible title company shall first have given Its assurance that after ouch car rding it will Iff on demand, Insuo a title Insurance policy In-an amount equal to the said purchano prlco or a certificate of title quarrel" with liability limited to that amount, showing title to said piemisea vested In lessen free and clear of all oncumbrancoo; provided, ". however, that if said proafaea are situated in a county where title Insurance on title earltflcataa rue not customary, losaor may In lieu of such title report and policy or cortiflcare, lurnieh losnoo with fail and complete abstracts of title to said promisee,. W certified by a reputable searcher, as soon as passible after notice of the exorcise of said option: and lessee amooa to capes I' the some to be ...mined by Its attorney and to cause a hoport of such examination to be made to said ac-roa, holder, and in ` a1 evnnl woos when dc;wnitlnqsaid money,%gill crequo`lr,o uald ocerow holder to pay the salsa to lancer whenever it raeolveo W� iho report of its Mornay first title hie--9Idaclory, free and clear. If cold title shall prov t�taeilvo and such daltatn are not ,.arocted or removed within llJrtoty '1--•n from chef ditto when the escrow holder le o! such do(ocly, Lsv*a at 1ln optical may withdraw the money d e''1i-day it. in which event the said dead shall U fo lessor. Rentals shall cease �11 as of flue date of d.posll of sold Prk. ,-:row and rontaln and taxes shall be proratod�'tho some date, t` (12l- - Ilc s to EMond Torm. (a) Tho looser hereby grants to Iho lessen tho right and option to extend this lease for an II`i additional period of ........................ T.4.Xi.....1 ......... ,. ........, yams at ilia fallowing ronlaL. . . q _I'O11......_l......1C:r:_l1 D011ars � 00 00.. . ................ ........................ _ ...........-,_..............._..._._..._.........................................................._....................._...._............................-......I._.....-.............._ Loss. shall notify lessor hr writing of its eloction to extend this lnovo sixty (GO) days prior to fie date of the expiration of the term of this lease and notice thereof shall be doomed sufficient if given in the manner hereinafter provided. (b) If at way time during the tore at this lease or any extension or ronowal provided for heroin, looser shall receive a ' bane lido offer to loose the demluod promises for a term to begin subsequent to thn present dondeed term or such exeension or renewal, and the lessor de¢lran to accopt such offer, lessor will Immediately submit to leesoo a written copy of such proposed lease will, a lull disclosure of the lormn and provisions thereof and lonsso shall have thirty (30) days after rucolpt Ihoroof 1n which to elect to lease mold promises upon Iho oamo terns and provisions contained in such proposed leavo. (c) In the event lwmms Is gmntad an option to oMopd nodal the proviatonr of paragraph (12) (a), It is agreed that S Muss does not In any Instance elect to lasso sold practices In acvrordarce, with tho provisions of paragraph (12) (b), such failure shall In no way limit or affect lvasee's right and option to extend Uttn lease an provided in paragraph (12) (a). (t:f-.^•---;t!oa o!-lie6f�dhtgo,-The-losses-]nrwoby-9r<cats-:c�h�ssoac.-tl:m-s?71,t-to-ale®o7b3i-cry-end--e>F_Laldltnger�.x�3s��-• . meats and structures now exacted upon Iho demlaod promisor, and to remove the same thorofram, at ouch Ilse or fto�,ulYlro lessen, In Its judgment may chasm proper, and the lessor hereby relinquishes any card all claim to any salvago4-aniTedals an ❑ result .1 sold demolition, and agrees that the came shall be and Incrome the property of tha losses, to b—t sarj of as the lessee sees fit. ' (1�)-Surrey, Lessor shall furnish losses, at In000r'n expense, n lino and Vrado eurvR o demised promises, prepared 6y a registered surveyor and in cvnformlty wltt, the raqulromonls at ]arnoo'❑ co�tnil;it air fill (M-Constructlon of Service Station. Lassen hereby covenants and nq<-3 to construct or cause to be constructed upp1Y":""; the chastised promises a modem service station which will be coca (o:ad'in accordance with loeoaai plane slid spaclllcatioGa,''' and losses will equip or cause the soma to be equipped foryps tlon an a service station at its convenlance at an oxpendill,� therefor of the men of at ]oast.._....-__-__.-...._.... dollam.It is understood, however, that the Immee shall incur no o�itt U I gotten Willi respect to the lorogoinq unlosa a iho loaner mocurco the necessary ponnito for the erection and operation such station an horelualtor provided. Aoi 16 Pormlts. Loeser c nts and o �7( }- grmion to babe erected a the for sail to omits al hie own event less Ufa is o is unable to !or the erection and ape of the norvlm elation to be erected on the daminad promlmsa. In lhu avant lessor falls or >e unable to l^ -�- JfJ�-'jobt £� lessor the nxaesnere Lr�mlts than lawnshallo1"ave ural ilia leesoo with all nocDosaay make application utbrhyand ri ytand n Coo role uch wlli In the th loes*o�n 19 laroo of /• -j�4d tassel or In ,ds'fama, and the lessor agrees � permits d' ormlty. In Ilia event lessor fails or is unable to nature Ilia nocooaa �iv�a-in+seron�F-.�•r`�.r-- 4ho-r'6c1'cF'iirfmotrvntb-Ar..?ace^allaLa-Ls-ar•i»q�ol+:ah-ovonNheeorrmm•chrslbbe+oeaw-nwklaad-MekianzFro6-sw'eHecFr :t(: (ly)-Holdorar. It., at the expiration or 1orminaUon of this loose or any extension flitoof, locsoe should hold over for any S,,l; reason, the looney of losses thoroaftar shall be from month to month only and ho subject to all other terms and conditions of = this loan., In the absence of a wiltton agreement to the contrary. (Ill)-Asslgnmont sad Sub-latdriv. Looser consents that lesacu may assign or oub-lot the promisee, or any pari thereof, 1'- provided that losses shall remain liable to lessor for the performance of all of the forme hereof. j? n (ie)--Plotico. NoUros from loan** to lessor nisi] be sulticloni 1f delivered to lessor, or 1t by telegram, or 1f placed in the United Stators malls addraesed to the lessor at the address shown in this loano. Notices from lessor to leesoo shall be sufficient C., 11 posted In ilia United Slates malls, postage prepaid, addronsed to ilia losnoeu pilnclpal place of business as shown In thla lease. (Tll)--Change In 0xn.arahfp Na change In ownership, a¢sigrimont of this ]ease, or rnelgumont of rentals hereunder shall be binding upon lesson unions and until lesson lion boon furnished either the original Instrument ovldonclnq'such truritter or- avalqunert, or a We copy thereof, (211--Succeosars rest Analgls, 'fits agreement shall be binding upon and shall inure to the benefit of the panties berate and their respective hobs, legal representatives,Aucc-eesom and assigns. (' (221-Eudroty of Agreec'<wt. No prior atlpulatlon, agreement or understanding, verbal or otherwise, of the parties or thoh' agents shall be valid or onlorelablo unless embodied In ilia provisions of this lease. (23)-Approyol and Slgning by Lomas. Tills agreement, whatever the circumstances,shall not be binding on the lemmea urns and until approved and airy,nod in its bohalf by an Exocullvm Officer, General Salon Manager, Assistant G.naral Solos Manager, Manager Doctor Sales (Erxutivo Salem Office), Assistant Manager Dealer Salon (Executive Solos (Dillon), Manager Real Estate Dlvl- sloe, Territorial Manager (Domestic Salon Dopartmont), or Division Manager(Domestic Sales Dopartment). )i - `The Iiolr. ,. -r." red%or actiitiol: , -iiowI) iif oasis;taphs 2, 6, 11 , 13 , 14, 1.5 . 1 (1 wrre 1'nde ' Id ,xo. Hider Clv(,I'Cl1 Cif to jwaraj;rai hs 8, and panaF'1"l�,ill'1 2�. l^TFd L""t� c,! to U the r'- ;r:cuticul of -11 ]C Ce t . "-` r IN WITNESS WHEREOF looser and lease* have hereunto aubamlbod their names the day and year first above Written fi} fi ,v -,.rrr.__ r .. ..y4�:.."....Lf. .� f�.....^.............j{ .� ?'�>�u'�,-a. Witness::-..�""' 'i'�M../-__.-_.........._....._ ........�.....-_C J )/x..�f.� ��_....-._.._f scrG_c.� ...._(seat) „ r; Ambient Snaelary s., i J. A. TUCKP'-$d ,, V uo-PrsrJcaraC aY. Approved av to: Te . ........ L � (For ACLourvMdgmenti sae page 4) i a s 1 t v art; PALM A t t riAliY ��t chit 4 1�. f i Il '�I1 tt} 11"'a+ iwr n `vt iyf ay ' min::nr ,r. i., err-•, I*mrzr t.., 'r l !F;� ,th Yii hq�,TtL rT ti.,itr+s„ T e i:,, fy n,�llll N Hr I<:c 14'' : i t9?e1:i-�t{Lrs�Trry n�'lw.r'YvNkYb���lPl 1tlV�I �`��itittl lr fNt .�`tf � " �' Fp ����nf �(lt�gyilti^�v ,t�l-d'r,r�f ,�y e1i Pp�{t•:r), M �r(7n! ,t�{' e h{r,L+.°: 1 SiYg9a""(ty y ll�!�'M f.Y f l Yl{P11 {n S lin�gf fli S idih e.It iJi}nt N7�'I17�*r`y',cif§:,i1t�"'��i�i�r iris i l(T, )rht r ? Y.rtl ..u� 'rir' / t49,�1'n'rttl`vf 'p. a..}fr,.t�l,�Fr'IU �t)tl1j)l i�FNf(v'i�° ti WIK(U[ I(anty:�Slllry nla� ��l°I')'�r�'� Yxt�(�(.. �, ' i�ytrttee'� y �, >4 1 h ry .v�p" I t;la'�u°hit 'id 'J,� ,." ��,,, n�.�Yt:)I ;Y ,• a`a�. �f�1� .MI 4.I,, a`srtWf. 1� 'I\ 7ti l pfli' rl hl0 t 1 �1 d ) ryl, l ;.Ill I •r —,+..q \1,ir 11i451 ,4 14U1 r\r4y E d !\' Ill 11' It t w.l(alt rrs ar Ili r+ 1 li 191 14 y 2 ,IIw + l li a r - ]r+I'•'r 9+1 i 111rV\ �'lF:� r 5 Yb I+ I�+fi !+ r l,�llr1 I(e I' \¢ �I fr a a+P 11t14r r, �, C *.�C lrl �I� 1 ' iiel)1YJ ' rlJli+�< 'PI {wrl'.`}k f� \L 111+aftF{A l�lt�i, txG,II pr1)141 Ct� 5Y1 I +� e If 4i �, 2 It `'s 1, t 1 I,g,. ltIp yS\h)fyy aiLpl t�\r\ i�f� nv�t k ,: I. r4 5, ! { 'r9� '11L7,yyrQ\ Il�kl AIr I 2 k a YI+'F i ' I'if '+ u9 1 rr I 1`e rl L n vl\I NI I\t I1 i, i� y 1 I ', (h 1��)} A)4 to Jl� rlg41 4IPr �I1v� v Inl rFl lf`��I W41J�I+��� I��ti i'IIH'ILIrA�ll ll�� [dl�l, ntr 'I II a FI ,f P r 'v1 flh ) fyl,, [ , } � ,gyp 1 Id. a1 nI_ ti e pIri:J �y r t tl h1Rgl4 r 1 a 'tl 1 Ills ! 'cr',9 1. 1 I J nl, Al r u„ ulll flA 'a r'r) y ' J I I . I L'r., .r r I,i+f 1rr :, r t P, ✓ If n L If I ' 1 l 1 t rfr I ILJ I41 I. I l 1. , Ir} x L �yy r II a Iel I f�r;'r,r{II4 kJvll�. � I l., Inl n If ,n III rid ,,,JK r , I - 1 (. I ! , I r ° 1 I i. I t - .d f, , 12 111 LI y li, p q I d ri 1 r ✓,+ r I. wrv, w � p S 0 as iq0' i t 'k� ON ` � M a e^ 'I � N tea•,�� 1 0l_ —�, ci lE+ �j fF t �#I '�C f"i I l,� r IIv !ufz, -tv Elr y '4.1 9� x r r '�• I t� rx PALM NOS) CAL. ) S;l r 395 N. i4 CANYON ➢R. I MO➢IFICATION OF LEAS_ THIS AGREEMENT, entered into between Onas M. Ward, and Grace Ward, hereinafter called "Lessor" and TEXACO INC. , a Delaware corporation, formerly known as The Texas Company, hereinafter called "Lessee". RECITALS: (a) On October 251 1954 , Onas M. Ward, Grace Ward and John B. Ward, Lessors , entered into a Lease. Agreement , recorded in Book 1703 , Page 510, Official. Records of Riverside County, by which Lessors leased to lessee certain property in the City of Palm Springs, State of California, which property is more particularly described in said lease. (b) Lessor has acquired all of the right, title and interest of. John B. Ward in and to said lease. IT IS AGREED between the parties as follows: (1) Paragraph (8) - Taxes - of said lease is amended effective July 1, 1967, to read in full as follows„ (8) TAXES. .Lessee agrees to pay all taxes of every kind and nature assessed against its improvements and personal property situated upon the leased premises, Lessee also agrees to pay direct to the taxing author- ities of the city, county and/or state in which the leased premises are located, all taxes and assessments levied or assessed on or against the leased premises during the term of this lease or any extension thereof. Lessor agrees to arrange with said taxing authorities to have said taxing authorities bill Lessee directly at Lessee 's place of busi- ness at 3350 Wilshire Boulevard,, Los Angeles, California 1 90005 , for all taxes and assessments to be paid by Lessee 'as hereinabove provided, and Lessor agrees to promptly forward to Lessee, or cause the city or special assessment district to mail directly to Lessee at its place of business at 3350 Wilshire Boulevard, Los Angeles, California 90005 , any and all notices of proposed special assessments against the leased premises. Such billing to Lessee shall' 'be a condi.thon precedent to Lessee 's obligation to make direct payment of'yl the taxes and assessments on the "leased land„ For any frabi t.ion of a tax year at the end of the term of this lease olr�l extension thereof, Lessee 's obligation hereunder shall be prorated as of the end of said lease term or extension there- of. If Lessee has paid, taxes on the leased premises for a fraction of a tax year beyond the t:ermination, of this lease, Lessotir agrees to reimburse Lessee for the taxes applicable to such fraction of a tax year after_ presentation of the receipted tax bill. In the event , any special assessment is levied or assessed on the demised property which becomes due and payable during and the delinquency date for which falls within the term of this lease or extension thereof, which said assessment may be legally paid in installments , Lessee shall have the option to prey such assessment- in installments. In the event of such election, Lessee shall be liable only for those installments of such assessment which become due and payable during and the delinquency date for which falls within the term of this lease or extension thereof. Lessee reserves the right , at its own cost and expense, to contest any tax or assessment which it deems to be improper or unreasonable and upon written notice to such effect from Lessee, Lessor agrees to cooperate or join with Lessee in any application or proceeding to contest or judicially review any such assessment referred to in said notice. (2) Paragraph (9) - Assessments - of said lease is deleted effective July 1, 1967. (3) The following new paragraphs ar`e hereby added to said lease: (25) 7Second Option to Extend Term. Lessor further grants to Lessee the .right and option to extend the term of this lease for an additional period of five (5) years, at the following rental: Four Hundred Twenty Five and No/1.00 (5425. 00) Dollars per month. Lessee shall notify Lessor in writing of its election to extend this lease Three Hundred and Sixty Five (365) days prior to the date of the expiration of the term of this lease as extended by paragraph (12) . , ('26) -Third,0 tion to Extend Term. If. Lessee exert cises the options contained in paragraph (25) , Lessor further grants to Lessee the right and option to extend the term of this lease for an additional period of five (5) years, at the following rental: Four Hundred Fifty and No/100 ($450. 00) Dollars per month. Lessee shall notify Lessor in writing of its election to extend this lease Three Hundred and Sixty Five (365) days prior to the date of the expiration ,of the tear mof this lease as extended by paragraph (25) . r.r� (27) -Fourth Option to Extend Term, %Zf Lessee of r- cises the options contained in .paragrapho (25) and (26) , Lessor further grants to Lessee the right and option to extend the term of this lease for an additional period of five (5) years, at the following rental: Four Hundred Seventy- Five and Nof100 ($475Y00) Dollars per month. Lessee shall notify Lessor in, writing of - its election to extend this lease Three Uundred Sixty Five (365) days prior to the date of the expiration of the dean of this lease as extended by paragraph (26). ' . - t .•'Kura (28) -Fi-fth Option to Extend Term„ If Lessee exercises the options contained in paragraphs (25) , (26) and (27) , Lessor further grants to Lessee the right and option to extend the term of this lease for an additional period of five (5) years, at the following rental.: Five Hundred and No/100 ($500. 00) Dollars per month. Lessee shall notify Lessor in writing of its election to extend this lease Three Hundred Sixty .Five (365) days prior to the date of the expiration of the term of this lease as extended by paragraph (27) . IN WITNESS WHEREOF Lessor and Lessee have hereunto subscribed their names. DATED: wr _-_S_��'�ttkf �� WIT ESS: �--�--•���� (LESSOR) WIT'NTSS : (LESSOR) TERA O/ INC. (LESSEE) ATTEST: Y f l�Cl ' J 'Fix by STATE OF CALEF01INU, 58. County of. 4a- wll OTn�S1LL�J_. I belme nw, the undorslpqu d,.a Nohn l Public fit and for said Stale, personally appeared persvrnaby known to me to be thr person whose narne iv subscTlbed to tbt lfnlhbt Lutrvntant, as it Wilners thereto, toles bemR by me duly sloom, deposes and says: rosldtvx to PS ,�1 L ,1X! Ll if OP]]si 6t �I�Si rl� ifA 1a _ �)7IL' Ti t�Ufll .: .Y�nn (-." 1wCa q� and timt - teas prrsurE and sew — d,� L. la�f'� � rIY�, Y �d1a t t rsonalll known to ' q'',7� ,11n h 4rlik vuhecrrbrdtoIlic trlt���d mmrexed Instrue rho sania ment as �flctrPart..L2213,ribed in and rfhmeto,t how �texcent al and dehr,a the some, and--Lb , aakrtotalnd ad to sold a lant (,Lot h a � 6 // fly` .......... ..... his rwmrt the)TIo as a witness. (Cori,cr¢noe) STATE OF CALIFORNIA 9 i, v, 197`0 Los /dri reles } SS. on w iiiTeor COUNTY OF_ 3 lid for said State. f9AR 1 96 On before one, the tnndmrolgned, na Nover7 Public hr rnsd for so0f State, prrxonally sppearc<f u known to our to be the �.g.'.S"L President, and _SYDNEY D. SLOKIN_ ¢ Assistant known to me to he -_ $ecret¢ry of the corponiion that executod the vrithin fortrumeut. x known to our to b< thr pa,enn, who cxocuivf tho lynhin 4'u Instrumrnt on behalf of the corporation, therein esuned, and a,knawledged to me that ouch corporation executed the within instrument purausnt to its by-Iawa or a rerrslutlon of its board •;�_._„- of diroc-,or, Wf'fNESS dl bend said official U.r(�4d f'�i �� 3°�' tl Y '- t-n LIfO:Y•:A tt. w ;hC1 AL 0—F-j IN Signetura /� ��Y,L t.'C,-[Gt'.t .e.L IC,S ,IAG� F1 _ THCRNOrRRY �t� CG,JNiY FCUruaLy�� Naimu (Typed or Printed) 0 Lb rt„n pv aT:.tet•ulta#st tpdt i 17ORA15-62N 1.:77 E L� rnLs HIS __.-0 c rota �oba ea Y uTr vT�co�LzcTfor� o�,. �,: t: Jane 26 , 1900 VALM .ntPTt'IUCS , CAl.IVORMIA, SIS 41 3?)5 FIgFP^ifi h�.9WFi CAtTIf?N Y]tiIV33 Locution We. µ061 201 Pomona Collego wenyou BUSIc2COO offscce 264 E. Bonita c1cremont , Ca. Y1711 Attention: ReCR Ecstnow 'manes,icxr Please rofer to Yost lease to Un Kt od Octo- ber 25, 1954 , Kcl.vae Inn aay modi.fic3tioan tbevoto, n©vc:rinz the prealoo© at CLO Lb ovo lec.at_?.on. You era notified that we hereby excraisa the op- tioa to extend Zbo term of ;snid lonae Ter the period of five (5) yearn, from Angung ^t , 1901. up to and Including July 31 , 1W pursuant to Prarngwlr b (20 of cold leans. Very truly `Tou res, 1 . 1 . f6AMMOND liieITrS :cy e Uhruby NNY i . ' .�_�- �.+1.aTi.xaw,�.waars-_a�ut-ua[�a.esic�aut t,�m.�i�:az'rw.autix