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FIFTH AMENDMENT TO MULTI -TENANT OFFICE LEASE — GROSS
<br />This Fifth Amendment ("Fifth Amendment") to the Multi -Tenant Office Lease -Gross
<br />("Lease"), dated September 15, 2002, is made and entered into this3b th day of November 2022
<br />by and between the City of Redlands, a municipal corporation and a general law city ("Lessor"),
<br />and UBS Financial Services Inc., ("Lessee"). City and Lessee are sometimes herein referred to
<br />individually as a "Party" and collectively as the "Parties."
<br />RECITALS
<br />WHEREAS, on September 15, 2002, Lessee entered into a Multi -Tenant Office Lease -
<br />Gross with Redlands Community Investment Corporation, a California Corporation for the lease
<br />of approximately 3,595 square feet of space at 300 East State Street, Suite 400, Redlands,
<br />California; and
<br />WHEREAS, Lessee and Redlands Community Investment Corporation amended that
<br />certain Lease Agreement with the First Addendum dated September 15, 2022, Second Addendum
<br />dated May 20, 2010, Third Addendum dated January 23, 2015, and Fourth Addendum dated May
<br />2, 2018; and
<br />WHEREAS, on September 21, 2021, City of Redlands and Redlands Community
<br />Investment Corporation entered into an Assignment and Assumption Agreement, wherein,
<br />Redlands Community Investment Corporation assigned and transferred to City of Redlands all
<br />right title and interest in, to and under the leases for 300 East State Street; and
<br />WHEREAS, it is the desire of the Lessor and Lessee to amend the existing Lease,
<br />specifically with regard to the Lease Term and Base Rent;
<br />NOW, THEREFORE, for good and valuable consideration in the receipt of which is hereby
<br />acknowledge Lessor and Lessee agree as follows:
<br />AGREEMENT
<br />Section 1. Renewal Lease Term: Without further notice required, the Lease is hereby
<br />extended from June 1, 2023, through May 31, 2028 (the "Renewal Lease Term").
<br />Section 2. Base Rent; Effective June 1, 2023, (the Lease Renewal Commencement Date"),
<br />the monthly Base Rent during the Renewal Lease Term, including the three percent (3%) fixed
<br />annual increases shall be as follows:
<br />Month(s) Monthly Base Rent
<br />June 1, 2023 May 31., 2024 $8,335.18
<br />June 1, 2024 — May 31, 2025 $8,585.24
<br />June 1, 2025 — May 31, 2026 $8,842.79
<br />June 1, 2026 — May 31, 2027 $9,108.08
<br />June 1, 2027 -- May 31, 2028 $9,381.32
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<br />1:\Citnas Center - 300E State Street\Tenant Lease Agreements\UBS (Ste 400)\Redlands.CA.UBS-5th Amendment to
<br />Lease.UBS,10.26.2022.docx
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