Agenda Packet_2024-10-15 - Laserfiche WebLink

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EXHIBIT "I-1" Santa Ana Police Addendum to Lease dated April 15, 2021 between Rio Vista West, LLC, a California Limited Liability Company ("Lessor") and the Santa Ana Police Department, a division of the City of Santa Ana, a municipal corporation ("Lessee") Section 49, Option to Renew: Provided Lessee is not then in default with respect to the Lease to which this OPTION TO RENEW is attached and has kept and performed all of it's obligations under said Lease, Lessee shall have the right and option at any time, at least 180 days before the expiration of said Lease to extend the tenn thereof for three (3) additional one (1) year tenn(s) each, and the third (3) tenn shall the have the option to tenninate, without cause, at eight (8) months with a 60 day notice from the date of expiration of said Lease, which notice of exercise of option shall only be effective if in writing and sent to the Lessor as provided in the Lease for the mailing of notices. Provided, however, that Lessee may not exercise this right if the Lessee has received three (3) or more notices of default throughout the initial tenn of this Lease, whether or not those defaults were cured, or at any time when Lessee has breached and not cured or is in default under this Lease. Should Lessee breach or default under this Lease at any time after giving notice of extension and prior to the first day of the extended term, Lessor shall have the right to declare Lessee's notice void and ofno effect, and the tenn of this Lease shall expire as ifnotice had not been given. Such Lease extension shall be upon the identical terms and conditions as set for the in the Lease, except thanhe rental to be paid by Lessee shall be increased as follows: Option 1 -$2,951.00 per month Option 2 -$3,039.00 per month Option 3 -$3,191.00 per month (effective November 1, 2024 to October 31, 2025) The first option must be exercised in a timely manner for the second option term to be valid. Any security deposit held by Lessor shall be increased in the ratio as the rent is increased in the first year of the option period divided by the rent for the first year of the initial tenn. ~ Upon default in payment of the full increase in rental provided for above, Lessor shall have the same rights and remedies as upon default in the rent otherwise provided for in the Lease. This OPTION TO RENEW or extend may be exercised only by the original Lessee while physically occupying the Premises an any consent by Lessor to assignment or sublease of the Premises shall not be construed as a waiver of this prohibition. City Council 22 – 48 10/15/2024