upr000120 373

\ Actual monthly rent to be based on actual land value, track, and cost of building and other Improvements. Land des­cribed as follows: Certain parcel of land situate in City of Industry, County of Los Angeles, State of California, being Lots 3 and Block 17 of Tract No. 13^3» as per map recorded in Book 2 0 , pages 1 0 and 1 1 , of Map Records of said County, excepting therefrom the southwest­erly twenty (20) feet thereof. In addition to rental payments, Harvester agrees to pay or refund to Land Company, taxes upon the leased premises and upon all machinery and equipment installed, and all assess­ments for public improvements not chargeable to Capital Account. Any assessments for public improvements chargeable to Capital Account, Harvester agrees to pay five percent (5$) per annum on the amount so assessed. Land Company, at Land Company's expense, will arrange for the construction of said building and other improvements, and spur track. Upon completion of said track, Harvester shall enter into agreement with Los Angeles & Salt Lake Railroad Company and its lessee, Union Pacific Railroad Company, for its maintenance and operation. No notice shall be required to terminate this lease upon expiration of the original term or any extension thereof. At the end of the first five year term, value of the land shall be redetermined for the purpose of rental revision. Rent during the second five year term shall be based on per annum of the redetermined value of the land, 5% per annum of the value of the spur track, and Per annum of the value of the building, subject to arbitration. -3-