The parties entered a lease for the land owned by the landlord-respondents, dated April 19, 1965, wherein the petitioner-lessee would pay a minimum rent of $310,000 per annum for the first 25 years. The lease provided for the periodic recalculation of the rent, the first of which was set for August 15, 1990. For the period of August 1990 to August 1998 the rent was agreed to be either $310,000 or 6% of the appraised value of the land, whichever was greater. The lease also...
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