Item 20 - Lease Agreement for Office Space at SARTC with Walsh Construction Company II, LLC

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EXHIBIT 1 LEASE AGREEMENT BY AND BETWEEN THE CITY OF SANTA ANA AND WALSH CONSTRUCTION COMPANY, II, LLC FOR USE OF THE SANTA ANA REGIONAL TRANSPORTATION CENTER FACILITIES THIS LEASE (the "Lease") is made as of July 16, 2024, by and between the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City" or "Landlord"), and Walsh Construction Company II, LLC ("Tenant"). 1. EXHIBITS: The following exhibits are attached hereto and incorporated herein by reference: Exhibit "A" The Premises Exhibit `B" Additional Lease Conditions 2. PREMISES: Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, upon the terms, covenants and subject to the conditions set forth herein, a portion of the property located at 1000 East Santa Ana Boulevard in the City of Santa Ana, commonly known as the Santa Ana Regional Transportation Center (SARTC). Specifically, Tenant will be leasing the portion identified as Suite 200, consisting of approximately 4,429 square feet of interior office space (hereinafter referred to as the "PREMISES"). Tenant shall be solely responsible at its own expense for all improvements made to the Premises and obtain all necessary permits. The Premises are more particularly described in Exhibit A. 3. COMMENCEMENT OF TERM: The term of this Lease (the "Term") shall commence on July 16, 2024 (the "Commencement Date") and expire on July 15, 2024, unless sooner terminated or extended, as provided herein. Landlord shall have the right, but not the obligation, to provide Tenant the option to extend the Terrn for one (1) one (1) year period on the same terms and conditions as set forth in this Lease. The one (1) one (1) year extension option shall be agreed to in writing by the Landlord and Tenant prior to the expiration of the Term. Landlord may, upon 30 days' written notice to Landlord, terminate the one-year lease extension. 4. ADDITIONAL LEASE CONDITIONS: Tenant acknowledges that this lease is subject to compliance with the additional lease conditions attached hereto as Exhibit B. These additional lease conditions are a material part of this lease agreement and any default of these conditions will be deemed a major breach and will subject this lease to termination per the terms identified herein. 5. RENT: Upon the Commencement Date, Tenant shall pay to Landlord, as rent ("Rent") the monthly sum of Eleven Thousand and Seventy -Three Dollars ($11,627.00) in advance, on the 1 st day of each calendar month and continuing through the life of the Term. Any partial month shall be prorated at $388 per day. All payments of Rent and other sums due to Landlord hereunder shall be made payable to "The City of Santa Ana" and remitted to: City of Santa Ana M-13, 20 Civic Center Plaza, PO Box 1988, Santa Ana, CA 92702. A LATE CHARGE OF TEN 1