· The “1929 Building”, located directly east of the current Lantana Elementary School, was the site of the old Lantana Elementary School and is now used by the School Board to operate the Multicultural Education Program.
· The Lantana Historical Society (the “Society”) will lease, at a rate of $1.00 per year, a 10 feet by 18 feet office space (the “Office”) within the “1929 Building”.
· The Society will, as additional consideration for the use, improve the Office to represent a historical replica of the 1930’s principal’s office and to serve as a museum/archive of the old schoolhouse containing artifacts, memorabilia and displays and allowed to decorate the hall of the “1929 Building” with reproductions and copies of historical items and pictures.
· The cost to the tenant to retrofit the principal’s office will surpass the projected yearly lease amount and is being accepted in lieu of any additional monies.
· The Society will conduct tours of the replicated Office and the “1929 Building” hall for the benefit of Palm Beach County School District students.
· The term of the Lease Agreement will be one (1) year from March 1, 2006 to February 28, 2007, and shall be automatically renewed for four additional one (1) year terms, unless either party gives notice of non-renewal by February 1 of each year.
· The Lease Agreement may be terminated by either party without cause upon thirty (30) days prior written notice to the other party.