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<br />for the year 1998. The resulting number shall be the $150,000.00 equivalent for <br />the year commencing on said anniversary dates. In the event the Consumer Price <br />Index is discontinued, the Consumer Price Index shall thereafter mean such index <br />of prices published by the U.S. Government as most nearly approximates the <br />Consumer Price Index now published." <br /> <br />is hereby amended to read as follows: <br /> <br />"(f) (1) On each of the first four anniversary dates of this <br />agreement, the $60,000.00 equivalent will be adjusted by multiplying $60,000.00 <br />by a fraction, the numerator of which is the CPI-U for the immediately preceding <br />calendar year, and the denominator of which is the CPI-U for the year 1993. The <br />resulting number shall be the $60,000.00 equivalent for the year commencing on <br />said anniversary dates. In the event the Consumer Price Index is discontinued, the <br />Consumer Price Index shall thereafter mean such index of prices published by the <br />U.S. Government as most nearly approximates the Consumer Price Index now <br />published. <br /> <br />(f) (2) On the 5th through and induding the 13th anniversary dates <br />of this agreement, the $150,000,00 equivalent will be adjusted by multiplying <br />$150,000.00 by a fraction, the numerator of which is the CPI-U for the <br />immediately preceding calendar year, and the denominator of which is the CPI-U <br />for the year 1998. The resulting number shall be the $150,000.00 equivalent for <br />the year commencing on said anniversary dates. In the event the Consumer Price <br />Index is discontinued, the Consumer Price Index shall thereafter mean such index <br />of prices published by the U.S. Government as most nearly approximates the <br />Consumer Price Index now published. <br /> <br />(f) (3) On the 14th through and including the 31 st anniversary dates <br />of this agreement, the $450,000.00 equivalent will be adjusted by multiplying <br />$450,000.00 by a fraction, the numerator of which is the CPI-U for the <br />immediately preceding calendar year, and the denominator of which is the CPI-U <br />for the year 2007. The resulting number shall be the $450,000.00 equivalent for <br />the year commencing on said anniversary dates. In the event the Consumer Price <br />Index is discontinued, the Consumer Price Index shall thereafter mean such index <br />of prices published by the U.S. Government as most nearly approximates the <br />Consumer Price Index now published." <br /> <br />III <br /> <br />The portion of Paragraph XIII of the Lease Agreement, as amended, which reads as <br />follows: <br /> <br />"F or the period commencing on April 1, 1994 and ending on August 31, <br />1998, in which the balance of funds in the escrow account is an amount less than <br />the $60,000.00 equivalent, the City shall also maintain fire and extended coverage <br />insurance in an amount sufficient to cover the cost of materials and labor to <br />rebuild the pier in the event of damage or destruction of same, either from natural <br />or other causes. For the period commencing September 1, 1998 and ending <br />March 31, 2026, in which the balance of funds in the escrow account is an amount <br />less than the $150,000,00 equivalent, the City shall also maintain fire and <br />extended coverage insurance in an amount sufficient to provide, when added to <br />the balance in the escrow account, a total of the $150,000,00 equivalent, for the <br /> <br />5 <br />