25D - AGMT - SAUSD LEASE 595 E 14TH ST

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FIRST AMENDMENT TO CONTRACT OF AGREEMENT (LEASE) BETWEEN SANTA ANA UNIFIED SCHOOL DISTRICT AND CITY OF SANTA ANA THIS FIRST AMENDMENT TO CONTRACT OF AGREEMENT ( "First Amendment") is made as of 2016 ( "Effective Date "), by and between the Santa Ana Unified School District, a California public school district ( "District "), and the City of Santa Ana, a charter city and California municipal corporation ( "City "). District and City may be referred to herein individually as "Party" and collectively as "Parties," RECITALS WHEREAS, District and City entered into that certain Contract of Agreement, dated September 19, 1917 ( "Lease "), whereby District leased to City, and City leased from District, certain real property located at 595 East 14" Street, in the City of Santa Ana, to be used for well purposes and for the placement of a wafter tank occupied and enclosed by the City ( "Premises "); and WHEREAS, the term of the Lease is for a period of ninety -nine (99) years and is set to expire as of September 19, 2016 ( "Term "); and WHEREAS, the Parties desire to effectuate an exchange of real property where the City would acquire ownership of the Premises in return for the District acquiring ownership of a City -owned parcel that Is to be determined ( "Exchange "), and the Parties are currently in negotiations regarding the Exchange; and WHEREAS, if the Exchange is not effectuated, the Parties may agree to some other mutually agreed upon disposition ( "Disposition "); and WHEREAS, District and City desire to extend the Term of the Lease to allow the Parties to further explore and agree upon terms for the Exchange and /or Disposition; and WHEREAS, the Parties now mutually intend to amend the Lease's provisions as set forth herein this First Amendment, NOW THEREFORE, for valuable consideration, receipt of which is hereby acknowledged, District and City agree as follows: 1. Extension of Term. 1.1. The Parties acknowledge and agree that the Term of the Lease is hereby extended for an additional seven (7) months, and shall expire on April 19, 201.7, in order for the Parties to continue pursuing the Exchange and /or Disposition. 1.2. In the event the Parties determine that additional time is needed to effectuate the Exchange and /or Disposition, the Parties shall mutually agree in writing to extend the Term of the Lease for an additional period to be agreed upon by the Parties and effectuated in a subsequent written amendment to the Lease approved by the Parties. EXHIBIT 2 First Amendment to Lease —SAUSD & City — Davis ES Water Tower Page 1 25D -5