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mi357 72 <br /> provided that notice of the exercise of each such option is given in <br /> writing to the Owner not later than 60 days prior to the date of <br /> termination of the then effective lease term. Except as herein otherwise <br /> provided, all terms and covenants contained in this lease shall be in full <br /> force and effect during any extension period. <br /> 3. Guaranteed Minimum Rental. The County agrees to pay to the <br /> Owner, the guaranteed rental of $200 per month payable on or before the <br /> 10th day of each calendar month commencing with the Commencement Date <br /> ("Initial Rental Rate") . Effective on the first day of each Lease Year <br /> after the first Lease Year ("Adjustment Date") , the Guaranteed Minimum <br /> Rental shall be increased by the amount determined by multiplying the <br /> Initial Rental Rate by that percentage which represents any cost of living <br /> increase between the Commencement Date and the Adjustment Date. Such <br /> percentage shall be determined by utilizing the applicable indices <br /> determined by the United States Bureau of Labor Statistics (or its <br /> successor organization) through its Consumer Price Index entitled "United <br /> States City Average-All Items- All Urban Consumers Index". Such <br /> adjustment shall be made effective as of the Adjustment Date, as soon as <br /> possible after the index for the applicable month is published, with any <br /> deficiency due and payable with the next monthly installment of rent. <br /> Anything contained herein to the contrary notwithstanding, in the event <br /> that the adjustment would reduce the monthly rental from the monthly <br /> rental in effect for the preceding Lease Year, no such adjustment shall be <br /> made and the rental then in effect shall continue through the next <br /> Adjustment Date. <br /> 4. Improvements and Maintenance. The County shall have the right <br /> to make any and all improvements, temporary or permanent, to the premises <br /> as deemed necessary and desirable by the County for its use of the <br /> premises. it is anticipated that County will use the premises as the site <br /> of a solid waste convenience center. The County will provide a buffer <br /> strip, within the leased premises, around the convenience center of at <br /> 2 <br />