HomeMy WebLinkAboutReso 2001-009 - Downtown Lease agreement 4
RESOLUTION NO. 2001- 5
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING AND AUTHORIZING THE MAYOR TO SIGN A LEASE
EXTENSION AGREEMENT FOR THE LEASE OF THE STAIRS AND
WALKWAY BRIDGE TO THE SECOND FLOOR OF THE DOWNTOWN
MALL ENTERED INTO BETWEEN THE CITY OF REDDING AND THE
REDDING REDEVELOPMENT AGENCY AS LESSOR AND PARLAY
INVESTMENTS, INC. AS LESSEE.
BE IT RESOLVED that the City Council of the City of Redding approves entering into the
attached Lease Extension Agreement between the City of Redding and the Redding Redevelopment
Agency as Lessor and Parlay Investments, Inc. as Lessee for the lease of the stairs and walkway
bridge to the second floor of the Downtown Mall through May 31, 2005.
BE IT FURTHER RESOLVED that the Mayor is authorized to sign the Lease Extension
Agreement on behalf of the City, and the City Clerk is directed to attest his signature and affix the
seal of the City of Redding.
I HEREBY CERTIFY that the foregoing resolution was introduced,read,and adopted at
a regular meeting of the City Council on the 16`h day of January 2001 by the following vote:
AYES: COUNCIL MEMBERS: Cibula, Kight, Pohlmeyer, Stegall and McGeorge
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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/David . ,� ceorgyor.
ATTEST: FORM APPROVED:
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Connie Strohmayer, City Cler W. Leonard Wingate, City�A t�kt orney
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LEASE EXTENSION AGREEMENT
THIS LEASE EXTENSION AGREEMENT is made and entered into this day of
January 2001,by and between the CITY OF REDDING,a Municipal Corporation and general law city,
and the REDDING REDEVELOPMENT AGENCY, an agency of the State of California, hereinafter
collectively referred to as"LESSOR",and PARLAY INVESTMENTS,INC.,a California Corporation,
hereinafter referred to as "LESSEE".
RECITALS
This Lease Extension Agreement is made with reference to the following facts and objectives:
A. LESSOR and LESSEE entered into a written Lease Agreement dated October 15, 1998,
wherein LESSOR leased to LESSEE a stairway and a walkway bridge structure located in the
Downtown Redding Mall, in Redding, California, County of Shasta, as described in Exhibit A and
depicted on Exhibit B attached hereto and incorporated by reference herein, hereinafter referred to as
the"Leased Premises".
B. The term of said Lease Agreement expires on May 31, 2002, and the parties desire to
enter into this Lease Extension Agreement to extend the term of said Lease Agreement as hereinafter
set forth.
AGREEMENT
1. TERM: The term of said Lease Agreement, which expires May 31, 2002, shall be
extended for a period of three(3) years commencing June 1, 2002, and expiring on May 31, 2005,all
upon the same terms and conditions as set forth in the original Lease Agreement, except as provided
herein.
2. RENT: The annual rental rate for the extended term hereunder shall be Three Hundred
Sixty Dollars($360.00)payable by LESSEE to LESSOR commencing on June 1,2002, and a like sum
on the first day of June of each and every year thereafter during the extended term.
3. CANCELLATION: Both parties hereby agree that LESSOR may terminate the Lease
Agreement at any time after June 1, 2002, upon giving written notice to LESSEE six (6) months in
advance of its intension to do so if such cancellation is determined by LESSOR to be necessary to
revitalize the Redding downtown area or the Downtown Redding Mall. If the Lease Agreement is
terminated prior to May 31, 2005, the annual rental rate shall be prorated accordingly.
In this connection, it is covenanted and agreed that if the Lease Agreement is cancelled by
LESSOR pursuant to this paragraph, there shall be no obligation upon LESSOR to provide or expend
funds for an alternate access into the second floor of the Parlay Building, owned by LESSEE.
Lease Extension Agreement - City/RRA/Parlay Investments, Inc. Page 2
IN WITNESS WHEREOF,LESSOR and LESSEE have caused this Lease Extension Agreement
to be executed the day and year first hereinabove written.
LESSOR CITY OF REDDING
Dated: By:
DAVID L. MCGEORGE, Mayor
ATTEST: FORM APPRO .
By: By: G"--/- 21,0,Z1
CONNIE STROHMAYER,City Clerk W.LEONARD WIN E, City Attorney
REDDING REDEVELOPMENT AGENCY
Dated: By:
, Chairman
ATTEST: FORM APPROVED:
By: By: 11.-2-Y 17 c
KURT STARMAN, Secretary DAVID TRANBERG, A sistant ty
Attorney
LESSEE PARLAY INVESTMENTS, INC.
Dated:
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BRIAN L��IG/�sident
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