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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 April 4, 2019, is made and entered into this 15th day of December 2023 by and <br />between the City of Redlands, a municipal corporation, and a general law city ("City"), and <br />Flagstar Bank, N.A., a national bank, formerly known as Flagstar Bank, FSB ("Lessee"). City and <br />Lessee are sometimes herein referred to individually as a "Party" and collectively as the "Parties." <br />RECITALS <br />WHEREAS, on April 4, 2019, Lessee entered into a Multi -Tenant Office Lease -Gross with <br />Redlands Community Investment Corporation, a California Corporation for the lease of <br />approximately 455 square feet of space at 300 East State Street, Suite 360B, Redlands, California; <br />and <br />WHEREAS, Lessee and Redlands Community Investment Corporation amended that <br />certain Lease Agreement with the First Amendment dated June 1, 2020, and Second Amendment <br />dated April 8, 2021; and <br />WHEREAS, on September 21, 2021, City and Redlands Community Investment <br />Corporation entered into an Assignment and Assumption Agreement, wherein, Redlands <br />Community Investment Corporation assigned and transferred to City all right title and interest in, <br />to and under the leases for 300 East State Street; and <br />WHEREAS, Lessee and City amended that certain Lease Agreement with the Third <br />Amendment dated February 8, 2022, and Fourth Amendment dated September 15, 2022; <br />WHEREAS, it is the desire of the City and Lessee to amend the existing Lease, specifically <br />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 City and Lessee agree as follows: <br />AGREEMENT <br />Section 1. Paragraph 1.3 of the Lease, entitled "Term" is hereby amended to the following: <br />"1.3 Term. Term commences on January 1, 2024 ("Commencement Date") and ends on <br />March 31, 2024 ("Extension Term")." <br />Section 2. Paragraph 1.5 of the Lease, entitled "Base Rent" is hereby amended to read as <br />follows: <br />"1.5 Base Rent. The monthly Base Rent during the Extension Term shall be One Thousand <br />Two Hundred Ten Dollars ($1,210) per month, payable on the first day of each month commencing <br />January 1, 2024. <br />I:\Citrus Center- 300 E State Street\Tenant Lease Agreements\Flagstar Bank\Flagstar Bank Fifth Amendment to Lease.City.2023.docx 1 <br />