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• <br /> cor loon#let <br /> Dec 23,2015 14:45 <br /> personal property and are not fixtures. Lessee shall remove all of <br /> Lessee's <br /> Fan cilities <br /> Agreement,s sane <br /> cost, expense and liability on or before the expiration or earlier <br /> shall repair any damage to the City Property or Premises caused by such removal. Lessee shall <br /> restore the City Property and Premises to their original condition, as discussed in Paragraph 3.9.4. <br /> If Lessee shall not restore the City Property and Premises within one hundred eighty(180)days from <br /> the date of expiration or earlier termination of this Agreement,City may proceed with such work, <br /> at Lessee's sole cost, expense and liability, and assume title and ownership to the Lessee Facilities <br /> that remain on the Premises. City cannot claim any rights in facilities that have been removed. <br /> • <br /> 3.3.2 Lessee shall pay for any utilities and services required for Lessee's Facilities. <br /> City shall provide Lessee,at Lessee's cost,with such reasonable assistance as is necessary to enable <br /> Lessee to arrange for such utilities and services. <br /> 3.4 Use. Lessee's use of the Premises shall comply with all applicable laws,ordinances <br /> and regulations. Lessee shall not interfere with the operations of any other persons or entities who <br /> may have a lease or other entitlement with City for the City Property which pre-dates this <br /> Agreement. <br /> 3.5 Consideration. As consideration for the issuance of this Agreement, Lessee shall <br /> initially pay to the City an amount equal to Eighty-thousand dollars($80,000). I d it agree,for t is <br /> he <br /> of this Agreement, the Lessee shall pay the City annual payments. <br /> { terminated,Lessee will not make any further payments after termination. The first Payment shall <br /> be paid within sixty(60)business days of the Commencement Date of this Agreement. Subsequent <br /> 1110 Annual Payments shall be payable on or before December 151 of each year. The subsequent annual <br /> payments shall increase the initial payment of$80,000 by 4% each year beginning December 15, <br /> 2001. For example,the second payment on December 15,2001 will be for$83,200 and for the third <br /> payment on December 15,2002,the amount will be$86,528,etcetera. <br /> • <br /> 3.6 Future Consideration. At the commencement of each Renewal Term, the <br /> consideration shall continue to increase in accordance with the methodology desbribed in Section <br /> 3.5. <br /> 3.7 Payments. All payments shall be made payable to: City of Colton, 650 North La <br /> Cadena Drive, Colton, California 92324,Attn.:Finance Director. <br /> 3.8 Late Payment Charges. Lessee hereby acknowledges that late payment by Lessee to <br /> City of consideration and other sums due hereunder will cause City to incur costs not contemplated <br /> by this Agreement,the exact amount of which will be extremely difficult to ascertain. Such costs <br /> include,but are not limited to,processing and accounting charges. Accordingly,if any installment <br /> of consideration or any other sum due from Lessee shall not be received by City within twenty(20) <br /> days after such amount shall be due,Lessee shall pay to City a late charge equal to ten percent(10%) <br /> of such overdue amount,-as'well as interest on the outstanding amount which shall accrue at the rate <br /> of ten percent(10%)per•annum. In no event shall the late charge exceed the maximum allowable <br /> • City of Colton Lease Agreement Execution Copy Page 3 <br /> nor ficenttal <br /> John Burke <br /> Scokaba,K <br /> Dec'2'3,2015 14:45 <br />