R2016-35 AUTHORIZING REAL ESTATE TRANSFER 130 North Franklin

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applicablc five (5} year period. T'he first potential increase to tl�e annual rent amc�unt will uccur on May 1; 2021,and each five(5)years thereafter. The rent shall be paid in monthly installments due and payabie on the fifteenth (IS°i} day of each month effected by a journal entry by the City Treasurer on said date. Notwithstanding the fore�oing, in no event shal] the annual rent arnount pursuant to this Lease exceed twenty-two percent(22%)of the amount that the City actually levies f�r the Library. In the event that the annual rent amount exceeds twenty-two percent(22°ro)of the amount actualty Ievied b}�the Crty�far Library,the Library's annual rent amount under this Lease shall automatically be reduced to twenty-two gercent(22%) of the amount levieci by ihe City for the Library. SECTION 3. O�scration and Maintenance A. The City shail provic�e heat, air conditioning,tight, power,water, sewer and ail uther basic utilities for the Leased Premises, the Library Building and the Common Areas. The City shall also repair, maiutain, and repiac�, if required, the heating, ventilating, air conditioning, plumbing, electrieal systems,ant�the physieal structure of the Library Building, Leased Pr�nises and Common Areas, including,but nat limited t4, windows, roofs, ceilings, fluors, and waiis{but not including any trade fixtures or alteratians made by the Library pursuant to Section 10 ofihis I..ease Agreement after the Effective Date). The Library shall have no obligatian to repair, maintain,or replac;e any aspect Qf the Common Areas,I3uilding, Leaseci Premises or any Iiuilding systems serving the Leased Premises. The City shalt clean and maintain the Leased Premises anc� schedule the cleaning ar�d maintenance so as to cause thc least inconvenience to the public use of the Library as set forth in Exhibit C.