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FIFTH AMENDMENT TO LEASE AGREEMENT <br />This Fifth Amendment ("Fifth Amendment") to the Lease Agreement ("Lease"), dated <br />November 18, 2016, made and entered into this 30th day of November 2023, by and between the <br />City of Redlands, a municipal corporation and a general law city ("Landlord"), and Monarch <br />Management, Inc., a California corporation ("Tenant"). <br />RECITALS <br />WHEREAS, on November 18, 2016, Monarch Management, Inc. entered into a Lease <br />Agreement with Redlands Community Investment Corporation, a California Corporation for the <br />lease of approximately 268 square feet of space at 300 East State Street, Suite 205, Redlands, <br />California; and <br />WHEREAS, Monarch Management, Inc. and Redlands Community Investment <br />Corporation amended that certain Lease Agreement with the First Amendment dated December 1, <br />2018, and Second Amendment dated December 1, 2020; 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, City and Lessee amended that certain Lease Agreement with the Third <br />Amendment dated November 15, 2021, Fourth Amendment dated October 24, 2022; and <br />WHEREAS, it is the desire of the Landlord and Tenant 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 Landlord and Tenant agree as follows; <br />AGREEMENT <br />Section 1. Extension of Term. The Term shall be extended for a period of three (3) months <br />commencing on January 1, 2024 and terminating March 31, 2024 ("Extension Term"). <br />Section 2. Termination of L4xtension Term. Lessee may terminate this Lease, without <br />penalty, by providing City thirty (30) days prior written notice specifying the date for termination <br />of this Agreement. <br />Section 3. Base Rent, The Base Rent during the Extension Terrn shall be as follows: <br />Term <br />Base Rent/SF <br />Base Rent/Mo <br />January 1, 2024 — March 31, 2024 <br />$2.60/SF <br />$697.00 <br />1 <br />1:\Citrus Center - 300 E State Street\Tenant Lease Agreements\Monarch Management (Ste 205)\Monarch Management-5th <br />Amendment to Lease.CIty.2023.docx <br />