HIP UNLIMITED, LLC-2014 - Laserfiche WebLink

Home Browse Search

JUN 3 2014 N-2014-071 Cj •. CDA (2) SUBLEASE AGREEMENT This Sublease is made and entered Into this first day of April 2014 by and between CSU FULLERTON AUXILIARY SERVICES CORPORATION, a California non-profit corporation ("ASC") and HIP UNLIMITED, LLC, a Delaware corporation ("Tenant"). 1. ASC leases the GRAND CENTRAL BUILDING ("Grand Central") located in Santa Ana, California from the City of Santa Ana under a Lease Agreement dated June 19, 1995, as amended June 20,1998, and April 5, 2004, December 5, 2011, collectively, ("Master Lease Agreement"). 2, Under the terms and conditions of said Master Lease Agreement, ASC is permitted to sublet portions of Grand Central with the approval of the property owner, the City of Santa Ana. 3, This Sublease sets forth the terms of the parties' agreement. Therefore, the parties to this Sublease mutually agree to the following terms and conditions: TERMSANDCONO DNS 1, PREMISES, The space subleased to Tenant at Grand Central Is hereinafter referred to as the ("Premises"). The Premises are situated at 125 N. Broadway, Suite C, In the City of Santa Ana and are more particularly described In Exhibit A attached hereto and incorporated herein. The Premises contain approximately eight hundred sixty (860) square feet of floor area. 2. USE. The Premises are subleased to Tenant for the purpose of conducting thereon the following use: hands-on educational cooking classes focused on healthy, fresh, organic and local foods, and retail of kitchen Items. Tenant shall not use the Premises for any other purpose without ASC's prior written consent. Tenant agrees to use such Premises under the name "Hipcooks," 3. TERM, The term of this Sublease ("Term") shall be for a period of five (5) years. The term shall commence on June 1, 2014 ("Commencement Date"). This Agreement may be renewed at Tenant's option for one (1) additional term of five (5) years. 4. RENT AND UTILITIES, Tenant shall pay rent for the Premises at $1,350 per month ("Rent" which Includes utilities) for the first year of this Sublease. Annual Increases will be calculated using the Consumer Price index (All Urban Consumers — CUURA421SAO) for "Los Angeles— Riverside -Orange County, CA" and will be effective, June I" of each year. In calculating the Index, if the overall change in the Index is negative, then the negative change will be disregarded and the amount of the increase shall be zero, In a year with a positive index which immediately follows a year with a negative index, the Increase shall be the addition of CPI indexes between years (example; -2 (Year 1) +5 (Year 2) _ +3 increase], If the overall change in the index remains negative, then the negative change will be disregarded and the amount of the increase shall be zero. 1.1Page