AG 1996 12 16 - Laserfiche WebLink

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ARTICLE ~ Term Section 3.01: Commencement of Lease Term. The term of this Lease commences on February 1, 1997. Section 3.02: Termination of Lease Term. terminates on January 31, 2022. This Lease Section 3.03: ODtion for Additiona.1 Terms. It is agreed that, at the expiration of the initial term of this Lease, County shall have the right and option to renew this Lease for two (2) additional ten (10) year term(s) and, subsequently, one (1) additional five (5) year term. Each such renewal term shall commence as of the end of the then current term of this Lease and shall be subject to and in accordance with all terms and conditions set forth in this lease, except as to term, and if CountY shall timely exercise such right as hereinafter provided, County shall continue to pay Rent as if the initial term of this Lease had included such renewal term. If County shall desire to exercise this right and option, it shall give City notice in writing not less than thirty (30) days prior to the expiration of the then current term of this Lease. ARTICLE IV ' Rent Section 4.01: Rental Due Date. The rent (the "Rent") which the City hereby charges and which the County shall pay to the City for the leasing of the Demised Premises shall be One Dollar ($1.00); and the Rent shall be paid in a single payment of One Dollar ($1.00) which payment shall be due and payable on the date of the execution of this Lease by the County or within thirty (30) days thereafter. Section 4.02: Place of Payment. The Rent is payable at such place as the city may specify on the date of the execution hereof by the County. ARTICLE V Assignment This Lease may not be assigned by either party without the other party's express written consent.