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INDUSTRIAL LEASE
<br /> This Lease is dated as of July 1, 1991, and is by and
<br /> between LORRIE LEVIN GREENE, an individual ("Landlord") , and
<br /> RAINBO BAKING COMPANY OF THE SACRAMENTO VALLEY, a Delaware
<br /> corporation ("Tenant") .
<br /> RECITALS
<br /> A. Landlord is the owner of that certain parcel of real
<br /> property (the "Real Property") located in the City of Stockton,
<br /> County of San Joaquin, State of California, which Real Property is
<br /> more particularly described on Exhibit "A" hereto.
<br /> B. The Real Property is improved with a free-standing
<br /> industrial building (the "Building") , located at 1426 South
<br /> Lincoln Street, Stockton, California, and containing approximately
<br /> square feet of rentable area, as more particularly
<br /> i
<br /> dep- cted on Exhibit "B" hereto. The Real Property, the Building,
<br /> and any other improvements now or hereafter located on the Real
<br /> Property, are sometimes hereinafter referred to collectively as
<br /> the "Property."
<br /> C. Tenant desires to lease the Property from Landlord,
<br /> and Landlord desires to lease the Property to Tenant.
<br /> Article 1 - Premises
<br /> Section 1.01. Premises. Landlord hereby leases to
<br /> Tenant, and Tenant hereby leases from Landlord, for the term and
<br /> subject to the agreements, conditions and provisions hereinafter
<br /> set forth, to each and all of which Landlord and Tenant hereby
<br /> mutually agree, the Property (the "Premises") .
<br /> Article 2 - Term
<br /> Section 2.01. Lease Term. The term of this Lease (the
<br /> "Lease Term") shall commence on July 1, 1991 (the "Commencement
<br /> Date") , and, unless sooner terminated or extended as hereinafter
<br /> provided, shall end on June 30, 1996.
<br /> Section 2.02. Option to Extend Lease Term. Tenant is
<br /> given the option to extend the Lease Term for one (1) additional,
<br /> consecutive five (5) year period (the "Option Term") following
<br /> expiration of the initial term described in Section 2.01 (the
<br /> "Initial Term") by giving written notice of exercise of such
<br /> option (the "Option Notice") to Landlord on or before 5:00 p.m.,
<br /> Pacific time, on December 31, 1995. Notwithstanding the
<br /> foregoing, if Tenant is in default on the date of giving the
<br /> Option Notice, Tenant shall have no right to extend the Lease Term
<br /> and this Lease shall expire at the end of the Initial Term; or if
<br /> Tenant is in default on the date the Option Term is to commence,
<br /> the Option Term shall not commence. The leasing of the Premises
<br /> by Tenant during the Option Term shall be on all of the terms and
<br /> conditions of this Lease; provided that the Monthly Base Rent (as
<br /> defined in Section 3.01) for the Option Term shall be as follows:
<br /> Months 1-12: $1,150.00
<br /> Months 13-24: $1,200.00
<br /> Months 25-36: $1,250.00
<br /> Months 37-48: $1,300.00
<br /> Months 49-60: $1,350.00
<br /> Article 3 - Rent
<br /> Section 3.01. Payment. Tenant shall pay to Landlord,
<br /> for the use of the Premises, in lawful money of the United States,
<br /> a "Monthly Base Rent," in the amount of one Thousand Dollars
<br /> ($1,000.00) , due and payable without notice or demand, in advance,
<br /> beginning on the Commencement Date, and on the first day of each
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