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CSU FULLERTON (FORMERLY FULLERTON FOUNDATION)-2011
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CSU FULLERTON (FORMERLY FULLERTON FOUNDATION)-2011
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Last modified
6/9/2014 1:02:54 PM
Creation date
1/10/2012 8:56:51 AM
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Contracts
Company Name
CSU FULLERTON (FORMERLY FULLERTON FOUNDATION)
Contract #
A-2011-260
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
12/5/2011
Destruction Year
0
Document Relationships
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or on any annual anniversary thereof. <br />•'Quarter'• means a 3 -month period commencing on July 1, <br />September 1, January 1, or April 1 of any Lease Year. <br />•'Operating Loss'•- means the amount, if any, by which Actual <br />Operating Costs,- as hereafter defined, in any Lease Year <br />exceed Operating Revenue, as hereafter defined, in that Lease <br />Year. <br />•'Operating Revenue° means rental income derived by Tenant from <br />subleases and licenses of the Premises or any part thereof and <br />from the Deli Lease and any other income obtained by Tenant <br />due to its use of the Premises in accordance with Section 7 of <br />this Agreement. More specifically, '•Operating Revenue" shall <br />include those revenue sources identified in Exhibit D, <br />attached hereto and incorporated herein. <br />"Actual Operating Costs" means the costs actually incurred by <br />Tenant in carrying out its obligations under this Agreement <br />and its obligations under any subleases and licenses of the <br />Premises or any part thereof and the Deli Lease. More <br />specifically, ••Actual Operating Costs'• shall include those <br />expenditure categories identified in Exhibit D, attached <br />hereto and incorporated herein_ <br />"Operating Surplus•• means the amount, if any, by which <br />Operating Revenu@ in any Lease Year exceeds the Actual Operat- <br />ing Costs for that Lease Year. <br />(b) Findings. <br />By its approval of this Agreement, Landlord's governing board <br />finds and determines as follows: <br />(i) The use of the Premises in accordance with this <br />Agreement is extremely important to the revitaliza- <br />tion of the ••downtown'• area of the Santa Ana Rede- <br />velopment Project in accordance with the goals and <br />objectives of the redevelopment plan for that <br />project. <br />(ii) In order to achieve such use of the Premises, it is <br />necessary for Landlord to provide financial assis- <br />tance to Tenant to alleviate Tenant's anticipated <br />operating losses in the initial years of the term <br />of the lease of the Premises to Tenant_ <br />(c) Assistance in payment of Operating Losses. <br />Within 30 days following the beginning of each Quarter <br />occurring in each of the first four Lease Years, Landlord shall pay <br />12 <br />
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