2026-07-14 · Board Packet · Page 17

Lease Agreement
Between
The Board of Education of the Los Alamos Public Schools
And
Carla Jaramillo  dba “Hair Experts”
INITIALS: ____________  & _____________      PAGE 4 of 15      
   LESSEE                       LESSOR                                                
           
June 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 or 
any extension thereof, Lessor shall have the right to select and substitute another 
similar index.  The Annual Base Rent shall not be reduced as a result of any annual 
decrease in the CPI Index.
d. Rent shall be made payable to Los Alamos Public Schools and delivered to Lessor on the 
due date at PO Box 90, Los Alamos, New Mexico 87544 or at 2075 Trinity Drive, Los 
Alamos, New Mexico 87544 unless Lessor advises Lessee in writing of a different 
address. Each annual increase shall occur on the anniversary date of the Effective Date 
of the Lease Agreement.  Payment shall be due on the first of each month during the 
term of the Lease.
e. Late Fees. A late fee in the amount of 5% of the Monthly Rent shall be assessed on the 
following month’s rent if payment is not postmarked or received by Lessor on or before 
the tenth day of each month.  The acceptance of any late payment by the Lessor shall 
not constitute a waiver of the requirement for the timely payment of rent or any other 
obligations under this Lease Agreement. Under no circumstances shall the acceptance of 
any late payment be construed as permission for the Lessee to make future payments 
late. The Lessor retains the right to enforce all provisions of this Lease Agreement 
regardless of any past acceptance of late payments.
f. Lessee acknowledges that in the event direct deposit is utilized to pay rent, Lessor 
reserves the right to suspend or terminate direct deposit arrangements in the event of 
default by Lessee under this lease and to demand payment at a physical address.
ARTICLE 7 - LESSEE’S OPTIONS TO EXTEND LEASE TERM AND TERMINATION  
a. Unless the Lease is otherwise terminated as set for the below, Lessee is hereby granted 
three (3) options to extend the Term of this Lease.  Each option shall be for one (1) 
additional year (“Extended Term”), not to exceed five years from the date of full 
execution of this Lease.  Lessee may exercise such options only if Lessee is not in default