BLP PARTNERSHIP GROUND LEASE - Laserfiche WebLink

the Lease Term if this Lease, unless agreed otherwise by the Lessor. All property of the Lessee remaining after the last day of the Lease Term shall be conclusively deemed abandoned and may be removed by the Lessor, and the Lessee shall reimburse the Lessor for the cost of such removal. The Lessor shall provide the Lessee with five (5) days prior notice before disposing of any such items. During the Lease Term, the Lessee shall not, without first obtaining the written consent of the Lessor, abandon the Project, or allow the Project to become vacant or deserted. Section 3.6 Property Management. (a) The Lessee shall retain a property management agent that is acceptable to the Lessor to manage the Project (the "Management Agent "). The Lessor agrees that Eskaton Properties Incorporated, BRIDGE Property Management Company or Bay Area Senior Services is acceptable to the Lessor as Management Agent. (b) Each month during the Term, Lessee shall provide to Lessor a monthly report which shall include the following information for the previous month; unaudited financial statements, a report on unit vacancies and turnover specific to the affordable units, copies of material indicating significant procedural or policy changes affecting services and admissions, copies of significant complaints related to services including marketing and the applicant qualification and income certification of the affordable units, and a variance report showing actual versus budgeted expenses provided in accordance with Section 2.4(h). Section 3.7 Utilities The Lessee shall be responsible for the cost of all utilities, including water, heat, gas, electricity, waste removal, sewers, and other utilities or services supplied to the Project, and the Lessee shall pay or cause same to be paid currently and as due. Section 3.8 Inspection Lessee shall permit and facilitate, and shall require its contractors to permit and facilitate, observation and inspection of the Project and Land by the Lessor and by public authorities with reasonable notice during reasonable business hours for the purposes of determining compliance with this Agreement. Section 3.9 Payment by Lessee to Proiect. The Lessee and Lessor acknowledge that Bay Area Senior Services, a California nonprofit public benefit corporation shall invest Twenty Four Thousand Dollars ($24,000) per year for ten (10) years, commencing at the end of the first fiscal year in which the bed designated for a low income memory impaired resident in accordance with the City Regulatory Agreement is occupied. Any amount paid during the first year that payment is due shall be prorated to reflect the actual amount of time in which the bed designated for a low income memory impaired resident is occupied. The parties further understand and acknowledge that at the end of such year period, the Bay Area Senior Services may continue to make yearly payments to assist the affordability of the Project in the event that the Bay Area Senior Services and Lessor mutually agree to such extension. 144 \105 \153233.25 12