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03
City of Pleasanton
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2009
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072109
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03
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7/14/2009 2:27:48 PM
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7/14/2009 2:27:46 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
7/21/2009
DESTRUCT DATE
15 Y
DOCUMENT NO
03
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However, LESSOR and LESSEE acknowledge and agree that initial rental payment(s) shall not <br /> actually be sent by LESSEE until thirty (30) days after the exercise of the option is effective. <br /> Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in <br /> such event, LESSOR agrees to provide to LESSEE bank routing information for such purpose <br /> upon request of LESSEE. <br /> LESSOR hereby agrees to provide to LESSEE certain documentation (the "Rental <br /> Documentation evidencing LESSOR's interest in, and right to receive payments under, this <br /> Agreement, including without limitation: (i) documentation, acceptable to LESSEE in <br /> LESSEE's reasonable discretion, evidencing LESSOR's good and sufficient title to and /or <br /> interest in the Property and right to receive rental payments and other benefits hereunder; (ii) a <br /> complete and fully executed Internal Revenue Service Form W -9, or equivalent, in a form <br /> acceptable to LESSEE, for any party to whom rental payments are to be made pursuant to this <br /> Agreement; and (iii) other documentation requested by LESSEE in LESSEE's reasonable <br /> discretion. From time to time during the Term of this Agreement and within thirty (30) days of a <br /> written request from LESSEE, LESSOR agrees to provide updated Rental Documentation in a <br /> form reasonably acceptable to LESSEE. The Rental Documentation shall be provided to <br /> LESSEE in accordance with the provisions of and at the address given in Paragraph 23. Delivery <br /> of Rental Documentation to LESSEE shall be a prerequisite for the payment of any rent by <br /> LESSEE and notwithstanding anything to the contrary herein, LESSEE shall have no obligation <br /> to make any rental payments until Rental Documentation has been supplied to LESSEE as <br /> provided herein. <br /> Within fifteen (15) days of obtaining an interest in the Property or this Agreement, any <br /> assignee(s) or transferee(s) of LESSOR shall provide to LESSEE Rental Documentation in the <br /> manner set forth in the preceding paragraph. From time to time during the Term of this <br /> Agreement and within thirty (30) days of a written request from LESSEE, any assignee(s) or <br /> transferee(s) of LESSOR agrees to provide updated Rental Documentation in a form reasonably <br /> acceptable to LESSEE. Delivery of Rental Documentation to LESSEE by any assignee(s) or <br /> transferee(s) of LESSOR shall be a prerequisite for the payment of any rent by LESSEE to such <br /> party and notwithstanding anything to the contrary herein, LESSEE shall have no obligation to <br /> make any rental payments to any assignee(s) or transferee(s) of LESSOR until Rental <br /> Documentation has been supplied to LESSEE as provided herein. <br /> 4. EXTENSIONS. This Agreement shall automatically be extended for three (3) <br /> additional five (5) year terms unless LESSEE terminates it at the end of the then current term by <br /> giving LESSOR written notice of the intent to terminate at least six (6) months prior to the end of <br /> the then current term. <br /> 5. ANNUAL RENTAL INCREASE. The annual rental shall increase annually on each <br /> anniversary of the Commencement Date by an amount equal to three percent (3 of the <br /> previous year's annual rental. <br /> Meadowlark Park <br /> 1006541 2 <br /> 4 <br />
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