HomeMy WebLinkAboutSANTA ANA HISTORICAL PRESERVATION SOCIETY (2)- 4INSOKANCE NOT RE Q UI D. JAIVED / `
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WORK MAY PROCEED
CLERK OF COUNCIL
DATE: i-3i-nJ
LEASE AMENDMENT <
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THIS LEASE AMENDMENT is made and entered into this 16th day of November,1998
("Effective Date"), by and between the CITY OF SANTA ANA, a charter city and municipal
corporation duly organized and existing under the constitution and laws of the State of California
("Lessor") and the SANTA ANA HISTORICAL PRESERVATION SOCIETY, a Californianon-
profit corporation ("Lessee"), in reference to that certain LEASE PURCHASE AGREEMENT
between the parties hereto dated February 5, 1996 (the "Lease") related to that certain property
located at 615 North Sycamore Street, Santa Ana, California (the "Land"), together with
improvements thereon known as the historical Howe -Waffle House (the "House"), (jointly, the
"Premises") .
WITNESSETH
WHEREAS, from 1975 until 1996 the City leased the Land from the County of Orange
(the "County") and maintained thereon the House under agreement with the Lessor; and,
WHEREAS, in 1996 the City entered into a 25 year lease purchase agreement for the Land
with the County (the "County Agreement") which provided for a $20,000 advance payment, and
monthly payments of $887.00, underwhich the City would, at the end of the term, acquire fee
interest in the Land; and,
WHEREAS, in 1996 Lessor entered into a lease purchase agreement with Lessee mirroring
the terms of the County Agreement, but included the House (the "City Agreement") underwhich
the Lessee agreed to make on behalf of the City its payments as called for in the County
Agreement; and,
WHEREAS, the Lessee has notified the Lessor that the Lessee is no longer able to make the
monthly payments called for in the City Agreement, and that Lessee wishes to forego its purchase
rights to the Premises in exchange for reduction of rent payments to $1.00 per year and extension of
the term of the City Agreementto 99 years.
NOW, THEREFORE, it is mutually understood and agreed by Lessor and Lessee that the City
Agreement shall be amended as follows:
A. Extension of Term
Section 1 of the City Agreement is hereby amended to read as follows:
111. Premises and Term
LESSOR hereby does lease and demise to LESSEE, and LESSEE does hereby hire
and take from LESSOR upon the terms and conditions hereinafter set forth, those certain
premises known as: 615 North Sycamore Street, Santa Ana, County of Orange, State of
California, hereinafter referred to as "demised premises." The term of this lease shall be
ninety-nine (99) years commencing on March 15, 1996."
B. Termination of Purchase Rights
Section 2 of the City Agreement is hereby deleted in its entirety.
C. Rent Payments
Section 3(a) of the City Agreement is hereby amended to read as follows:
"(a) LESSEE agrees to pay LESSOR, as rent for the demised premises, the sum
of One Dollar ($1.00) per calendar, in advance, said payment to be made to LESSOR at
such place as LESSOR may from time to time specify in written notice to LESSEE."
D. Effect of Amendment
Except as necessary to implement the intent of this Lease Amendment, this Lease shall
remain in full force and effect. The Parties further agree to cause a memorandum of this
Lease Amendment to be executed and recorded.
IN WITNESS WHEREOF, Lessor and Lessee have executed this Lease Amendment the
day and year first above written.
ATT T: CITY 1A
by
J e C. Guy M.
0 A. Puli o
C�Ierk o the Council Mayor
k W. Fletcher
Attorney
I rovad as to core an
City V no .,er
THE SANTA ANA HISTORICAL
SOCIETY
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