COMMUNITY REDEVELOPMENT AGENCY 2 - 2002

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COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA and SYCAMORE PARKING CONCEPTS, LLC Assignable Lease of 150 Parking Spaces THIS LEASE AGREEMENT ("Lease")is entered into as of ~ay of JUI1e., 2003, by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body corporate and politic ("Agency"), and SYCAMORE PARKING CONCEPTS, LLC., a California limited liability company ("Sycamore"). RECITALS: WHEREAS, Sycamore is the owner of the parking garage located generally at the southwest comer of Sycamore and Tenth Streets in the City of Santa Ana ("the parking garage"), more particularly described in Exhibit A, attached hereto and incoiporated herein by this reference as through fully set forth; and WHEREAS, Agency desires a Lease to utilize 150 spaces in the parking lot of the Proiect ("the parking garage"); and WHEREAS, the Agency and Sycamore are parties to that certain Private Disposition and Development Agreement dated on or about December 16,2002, which is recorded as Document No. 2003000063398 with the Recorder of the County of Orange (hereafter "the DDA"); and WHEREAS, the DDA provides that these parties shall enter into this Lease; and NOW THEREFORE, it is agreed by and between the parties, that the foregoing Recitals are a substantive part ofthis Lease Agreement and that the following terms and conditions are approved and together with the Recitals and all exhibits and attachments hereto, shall constit~te the entire Lease Agreement between the Agency and Sycamore. I. Lease. Sycamore hereby grants to Agency a lease for 150 parking spaces in the parking garage to be initially assigned as follows: ~,. a. 25 dediCated parking spaces on the first floor the parking garage closest to the YMCA building located south of the parking garage. b. 25 dedicated parking spaces on the second floor the Parking Garage closest to the YMCA building located south of the parking garage. 1 J EXHIBIT A