EAST END REALTY PARTNERS, LP (2)

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A-2018-140 LONG TERM PARKING LEASE AGREEMENT BETWEEN THE CITY OF SANTA ANA g\ AND Conq d� END REALTY PARTNERS, LP 1'' 1 THIS LEASE AGREEMENT ("Agreement" or "Lease") is made and entered into this 5th day of June, 2018, by and between the City of Santa Ana, a charter city and municipal corporation, duly organized and exiting under the constitution and laws of the State of California, herein referred to as "Landlord", and East End Realty Partners, LP, herein referred to as "Tenant". RECITALS: A. The City of Santa Ana desires to provide long term parking for Tenant at the City owned parking structure located at 300 E. 5d` Street (the "Parking Structure"). City will provide for parking spaces on the 2nd floor of the Parking Structure. City will provide up to 48 parking spaces, with a minimum number of 36 parking spaces for the Tenant. Landlord and Tenant will mutually agree to the location of one (1) handicapped parking space on the west side of the parking structure as designated pursuant to Exhibit A of this Agreement. B. Tenant represents that the purpose of this Agreement is to provide parking for residents at the housing project known as "401 N. Bush Street Apartments" (the "Project"). Tenant, and its successors and assigns, shall comply with the terms and conditions of Resolution No. 2018-04 containing the variance (the "Variance") for reduction in parking for the Project. NOW THEREFORE, in consideration of the respective and mutual covenants and promises hereinafter contained and made, and subject to all terms and conditions hereof, the parties hereto agree as follows: ARTICLE 1— TERM OF LEASE Section 1.01 Lease Area and Use (Landlord) (a) Landlord hereby leases to Tenant and Tenant hereby leases and hires from Landlord the exclusive reserved use of the "Lease Area", as herein described and shown in general in Exhibit A, attached hereto and incorporated herein by reference, for the purpose of providing parking spaces for Tenant's designated and assigned residents ("Residents") of the Project and for no other purpose. (b) Landlord shall restrict the use of the Lease Area for the exclusive use of the Tenant's designated and assigned Residents to the use of the delineated parking spaces every day during the term of this Agreement. (c) Landlord shall post signs specifying such restrictions on the walls facing the restricted spaces, in accordance with Santa Ana Municipal Code Section 36-147.