Rent Revaluation. Upon each Adjustment Date, State may revalue the Rent. Should State decide to revalue Rent, State shall provide notice of this revaluation to Lessee in writing no later than ninety (90) calendar days before the Adjustment Date. Rent will be revalued as follows:
Rent Revaluation. The fees and charges shall be subject to review and reevaluation at the end of each 3-year period (with the first review and re-evaluation being effective on the first day of the 4th lease year and then occurring at the end of every 3 years thereafter) by the LESSOR, and the rent may be adjusted effective as of such rates so as not to exceed the lower of the increase in the Consumer Price Index rate during the preceding 36-month period. “Consumer Price Index” shall be the Consumer Price Index for Urban Wage Earners and Clerical Workers (1967=100) issued by the US Bureau of Labor Statistics. If the Consumer Price Index published by the US Bureau of Labor Statistics is discontinued, then the Consumer Price Index published by the US Department of Commerce shall be used (with proper adjustment); and if the US Department of Commerce Index is discontinued, then the LESSOR and the LESSEE shall, in good faith, agree on a suitable substitute. LESSOR will notify LESSEE in writing of the amount of any increase and the amount of the new rent (along with reasonable documentation detailing the calculation used for the increase) at least sixty (60) days prior to the new rent being due.
