2026-07-14 · Board Packet · Page 16

Lease Agreement
Between
The Board of Education of the Los Alamos Public Schools
And
Carla Jaramillo  dba “Hair Experts”
INITIALS: ____________  & _____________      PAGE 3 of 15      
   LESSEE                       LESSOR                                                
           
ARTICLE 6 - RENT
Lessee agrees to pay rent to Lessor as follows:
a. Commencing on the Effective Date, and for the first year of the Lease Term, the “Annual 
Base Rent” shall be $9,769.81, payable in equal monthly installments of $814.15. The 
Lessee shall also be responsible for “Common Area Maintenance (CAM) fees” (parking 
lot maintenance, parking lot snow removal, real property landscaping, light bulbs, pest 
control, fire extinguisher maintenance) in the amount of one thousand two- hundred 
dollars ($1,200.00) annually.  The “Total Annual Rent” shall be Ten thousand Nine 
Hundred Sixty Nine and 81/100 dollars and ($10,969.81 ) (Annual Base Rent plus Annual 
CAM Fees), The first month’s rent shall be due and payable on the Effective Date of this 
Lease, and equal installments of $914.15 be paid monthly thereafter throughout the 
first year of this Lease.  
b. Commencing with the second year of this Lease the Annual Base Rent and CAM fees 
shall escalate at the rate of the annual CPI from the U.S. Department of Labor and 
Statistics. The CPI Index shall mean the Consumer Price Index presently designated by 
the U.S. Bureau of Labor Statistics as the Consumer Price Index-Urban (CPI-U) from 
September of the previous year (“Annual Escalated Base Rent”), however such 
adjustment shall not exceed 2.5%.  If the CPI Index is discontinued during the Term of 
this Lease, Lessor shall have the right to select and substitute another similar index.  The 
Annual Base Rent nor CAM fees shall not be reduced as a result of any annual decrease 
in the CPI Index.
c. If the Lessee’s Option(s) to extend the Term of this Lease, described below, is exercised 
by the Lessee, then, commencing with the first option to extend this Lease, and for each 
successive year thereafter throughout the remaining Term of this Lease, the Annual 
Base Rent shall escalate at the rate of the annual CPI from the U.S. Department of Labor 
and Statistics. The CPI Index shall mean the Consumer Price Index presently designated 
by the U.S. Bureau of Labor Statistics as the Consumer Price Index-Urban (CPI-U) from