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Lease Summary
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Lessee: |
SBC Services, Inc |
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Address: |
1844 North
Sycamore |
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Simi Valley,
CA |
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Primary Lease Term: |
10 Years |
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Commencement Date: |
July 15, 2001 |
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Expiration Date |
July 14, 2011 |
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Lease Form |
1997 AIR Single Tenant Net |
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Current Annual Rent: |
$126,495 |
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Rent Schedule: |
Monthly Rent |
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Yr. 1: July
15, 2001 |
$9,746.00 |
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Yr. 2: July
15, 2002 |
$10,135.84 |
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Yr. 3
July 15, 2003 |
$10,541.27 |
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Yr. 4
July 15, 2004 |
$10,962.92 |
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Yr. 5
July 15, 2005 |
$11,401.44 |
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Yr. 6
July 15, 2006 |
$11,857.50 |
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Yr. 7
July 15, 2007 |
$12,331.80 |
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Yr. 8
July 15, 2008 |
$12,825.07 |
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Yr. 9
July 15, 2009 |
$13,338.07 |
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Yr. 10 July 15,
2010 |
$13,871.60 |
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Options: |
One-5 year option at FMV but no less than $13,871.60 per
month. During the option period, base rent shall be increased 4%
annually. |
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Early Termination: |
Lessee has the right to terminate
the lease effective after the 60th month. Lessee must provide Lessor
written notice no later than the 48th month of the lease term. In the
event that Lessee terminates the lease then the Lessee shall pay a penalty
equal to 2 months rent ($22,802). |
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Comments: |
Lessee has occupied the premises
since 1972 and has exercised every option of the prior lease. In 2001,
Lessee executed a new lease agreement after the old lease agreement expired
without further options. |
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