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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
FULLERTON AUXILIARY SERVICES CORPORATION, CALIFORNIA STATE UNIVERSITY AND TRUTH AND ALCHEMY, INC. - 2013
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2. Additional Ooeratina Subsidy. <br />Paragraph 16(h) is added to the Lease to read as follows: <br />"(h) Additional Assistance in payment of Operating Losses. <br />"Each calendar year beginning with 2003, Landlord shall pay Lessee the following <br />additional operating subsidy: <br />"2003 $80,000 <br />"2004 $75,000 <br />"2005 $70,000 <br />"2006 $65,000 <br />"2007 $60,000 <br />"This additional subsidy shall be paid not later than December 1 of each year <br />specified above, and shall be deposited by Lessee in the Special Account specified in <br />paragraph 16(c), above. Notwithstanding the foregoing, the subsidy for 2003 will be paid <br />to Lessee on or before May 1, 2004. <br />"Landlord and Lessee further agree to meet and confer to discuss whether this <br />provision should be further amended upon written request of Lessee made on the grounds <br />that support given to Lessee by the Trustees of the California State University, or the <br />administration of California State University at Fullerton, has materially diminished or <br />been eliminated; or the Lessee's costs associated with the Premises have materially <br />increased." <br />Early Termination of the Lease_ <br />Section 4(d)(ii) of the Lease is hereby amended to add the following to the end of this <br />paragraph: <br />"Commencing in Yeaz 16 (i.e., on January 1, 2015) through Year 30 (i.e., January 1, <br />2029) Lessee may request that the Landlord's executive body (i.e., the Agency Board r�r <br />City Council if the Lease has been assigned pursuant to paragraph 4 below) terminate this <br />lease upon one years notice due to economic hardship or other unforeseen circ�•**+arar.ces, <br />which request shall not be unreasonably denied_" <br />Consent To Assienment to City of Santa Ana <br />Landlord and Lessee agree that the Landlord may assign this Lease to the City of Santa <br />Ana ( "City ") as part of the City's acquisition of the Premises without any further <br />approval by Lessee; provided, however, that the City shall assume all of Landlord's <br />obligations and comply with all terms and conditions of this Lease. Landlord agrees that <br />
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