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LEASE <br />This lease is entered into on the date below between the City of Colton, a <br />Municipal Corporation ("the City"), and Colton Area Museum Association, a <br />non-profit California corporation, ("the Association" <br />The Association proposes to operate a museum in and about the Colton area. The <br />City owns a vacant building, not now fit for occupancy. The City intends to repair <br />the building and make it fit for occupancy. The parties intend that thereafter <br />the Association will conduct a museum in the building as provided herein. <br />The parties agree as follows: <br />The City leases to the Association the old Carnegie Library Building at La Cadena <br />and G Street, Colton, as herein provided. <br />TERM <br />The term of this lease shall be fifty years, starting upon the City completing <br />the repairs, making the building fit for occupancy and notifying the Association <br />in writing thereof. The Association, at its option, may extend the term another <br />fifty years. The option may be exercised only by written notice thereof delivered <br />to the City while the lease is in effect, and the Association is not in default <br />of its duties provided herein. <br />RENT <br />The Association shall pay to the City as rent the sum of one dollar per year during <br />the term hereof payable each December 31. <br />