RENT ADJUSTMENT(S)
STANDARD LEASE ADDENDUM
Dated
February 14,
2007____________________________________________________
By and
between (Lessor ) Land Associates
Trust, E.C. Alsenz, Trustee_________________
___________________________________________________
(Lessee) T3 Motion,
Inc., a Delaware
Corporation_____________________
___________________________________________________
Address of
Premises: 2990 Airway
Avenue_____________________________________
Costa Mesa,
CA_________________________________________
Paragraph
50_
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 and Fill in
Appropriately)
[ ] 1. Cost of Living Adjustment(s)
(COLA)
a. On (Fill
in COLA
Dates):_______________________________________________________________________________________________________________________
the
Base Rent shall be adjusted by the change, if any, from the
Base Month specified below, in the Consumer Price Index of the
Bureau of Labor Statistics of the U.S. Department of Labor for
(select one):
[
] CPI W (Urban Wage Earners and
Clerical Workers) or [ ]CPI U (All Urban Consumers). For (Fill
in Urban Area):
___________________________________________________________________________________________________________________________________________________________,
All Items (1982-1984 = 100), herein referred to as
“CPI”.
b. The monthly rent payable in
accordance with paragraph A.1. a. of this Addendum shall be
calculated as follows: the Base Rent set forth in
paragraph 1.5 of the attached Lease, shall be multiplied by a
fraction the numerator of which shall be the CPI of the
calendar month 2 months prior to the month(s) specified in
paragraph A 1.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 2 months prior to (select one): the [
] first month of the term of this Lease as set forth in
paragraph 1.3 ("Base Month") or [
]
(Fill
in Other "Base
Month"):_________________________________________________________________________.
The sum so calculated shall constitute the new monthly rent
hereunder, but in no event, shall any such new monthly rent be
less than the 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.
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