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<br />. <br /> <br />. <br /> <br />. <br /> <br />. . <br /> <br />MEMORANDUM <br /> <br />( " <br /> <br />j,' i' <br />[I <br /> <br />(,. I <br /> <br />'J <br /> <br />~../.., <br />.,,'. .~- ' <br />Redeve.: - ' <br /> <br />April 18, 1979 <br /> <br />From: <br /> <br />Ci ty Attorney <br /> <br />To: <br /> <br />Dale: <br /> <br />Executive Director, <br /> <br />PREPARATION OF LEASE AGREEMENT WITH SOMBRERO STREET, INC. <br /> <br />Subjecl: <br /> <br />Will you please prepare an appropriate lease agreement between <br />Sombrero Street, Inc. 719 North Main Street, Santa Ana 92701, <br />and the Community Redevelopment Agency of the City of Santa <br />Ana pursuant to the following terms and conditions: <br /> <br />1. <br /> <br />Effective date of lease shall be date of acceptance <br />by Agency; <br /> <br />Lease term to be for a period of five (5) years; <br /> <br />2. <br /> <br />3. <br /> <br />Rental at the rate of $175 per month during the first <br />year¡ <br /> <br />4. <br /> <br />Rental at the rate of $225 per month during the second <br />year; , <br /> <br />5. <br /> <br />Rental at the rate of $350 per month for the third, <br />fourth, and fifth years; <br /> <br />6. <br /> <br />Lessee a rees to im rov <br />W1t 1t an ar s or <br />aso thee <br />so s 1cient c u <br />o~ 10ft n~ 1o_""r; <br /> <br />e ro ert crance <br />n <br />e of ilure to do <br />erminate ease a <br /> <br />7. <br /> <br />Lessee shall have an option to purchase the lease <br />prem ses a an t1me u erm e ease at <br />a ue. e eterI1U.na 10n va e <br />that value assigned to the subject property <br />by a competent, dependable, professional appraiser <br />hired by the Agency¡ <br /> <br />8. <br /> <br />The above option cannot be exercised, however, until <br />the lessee has acquired title to the property immediate- <br />ly westerly of the lease site and presently leased by <br />and operated as the Sombrero Street Restaurant; <br /> <br />The legal description of the lease premises is as follows: <br /> <br />9. <br /> <br />That certain parcel of real property in the City of Santa <br />Ana, County of Orange, State of California, described as <br />Lot 6 and the North half of Lot 7, Block A of the Price <br />and Stella Fruit Addition to Santa Ana in the City of <br />Santa Ana as shown on a map thereof recorded in Book 28, <br />Page 5, Miscellaneous Records of Los Angeles County, <br /> <br />2./ <br />