L.-111 25-1846 Ratification by the Board of Education of a Lease Agreement by and between the District and Marion Fong, Oakland, CA, for the latter to lease to District real property at the corner of 11th and Madison, 157-11th (vacant lot), Oakland, CA, for staff and visitors parking for Lincoln Elementary School, for a one year term commencing January 1, 2026 (Commencement Date) and unless sooner terminated under provisions herein, shall end on December 31, 2026; unless terminated by either party, Lease shall automatically renew for one year on the anniversary date of each preceding Term; renewals shall not exceed four (4) renewals for a total cumulative Term of five (5) years, at a rental cost of $1,500.00 per month or for an annual cost not to exceed $18,000.00, with repairs and maintenance and other terms honored by Parties as prescribed in Agreement.