HomeMy WebLinkAboutAGMT - Bancap Commercial Real Estate (Hello Gorgeous)FIFTH ADDENDUM TO LEASE AGREEMENT
THIS FIFTH ADDENDUM TO LEASE AGREMEENT is entered into by and between the City
of Seal Beach ( "Landlord ") and Micki Sangster ( "Tenant "), this 1 1 "' day of January, 2016.
WHEREAS, on or about August 1, 1998, Landlord and Tenant entered into a Lease and
Operating Agreement ( "Lease ") whereby Tenant agreed to lease from Landlord those certain
Premises commonly then described as Old City Hall, Suite 170 -190, of which was modified by
the First Addendum to Lease Agreement dated November 1, 2002, the Second Addendum to
Lease Agreement dated December 27, 2007, the Third Addendum to Lease Agreement dated
December 4, 2012, and the Fourth Addendum to Lease Agreement dated May 14, 2014.
WHEREAS. Landlord and Tenant desire to amend said Lease as set forth in this Addendum.
NOW, THEREFORE, Landlord and Tenant agree as follows:
1. SUITE NUMBER ASSIGNMENT: The suite number for the premises currently
identified as Suite 170 - 180 -190, or any combination thereof, is heretofore changed, and is
now established as Suite 170.
2. EXTENSION OF TERM: Landlord and Tenant agree and acknowledge that the Term
will be extended for a term of one (1) year commencing January 1, 2016 and expiring at
midnight on December 31, 2016.
3. RENT SCHEDULE: Conditional upon faithful performance of the obligations of the
Lease, Landlord and Tenant agree to the following rent schedule:
January 1, 2016 through December 31, 2016 $1,900.00 per month
4. OPTION TO EXTEND: Provided Tenant is not in default with the terms and
conditions of the Lease, Tenant shall have the right to one (1) one- (1) year Option to
Extend the Lease by giving Landlord written notice three (3) months prior to the
expiration of the initial Lease term, upon the same terms, covenants, and conditions
except the Base Rental Rate shall be determined at the time of receipt of Tenant's written
notice to extend the term, but not less than the previous month's rent. Should notice to
exercise option not be received by Landlord within the above time period, the Option to
Extend shall be null and void.
5. FULL FORCE AND EFFECT: All other terms and conditions of the Lease shall
remain in full force and effect.
THIS FIFTH ADDENDUM TO LEASE SHALL NOT BECOME EFFECTIVE UNTIL THIS
FIFTH ADDENDUM TO LEASE IS EXECUTED BY LANDLORD AND DELIVERED TO
TENANT AND ANY OTHER REQUIREMENTS OF LANDLORD HAVE BEEN
FULFILLED. NO EMPLOYEE OR AGENT OF LANDLORD OR ANY PERSONS WITH
WHOM TENANT MAY HAVE NEGOTIATED THIS FIFTH ADDENDUM TO LEASE HAS
ANY AUTHORITY TO MODIFY THE TERMS HEREOF OR TO MAKE ANY
AGREEMENTS, REPRESENTATIONS OR PROMISES UNLESS THE SAME ARE
CONTAINED HEREIN OR ADDED HERETO IN WRITING.
LANDLORD
CITY OF SEAL BEACH
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TENANT
MICKISANGSTER
By:
Micki Sangster
Date: cl,c wb
T
Q O
February 4, 2016
Pacific West Asset Management Corporation
P. O. Box 19068
Irvine, CA 92623 -9068
Attn Sharon Ference, Vice President
RE: Fifth Addendum to Lease Agreement
City of Seal Beach —Annex Building
Micki Sangster; Hello Gorgeous
201 Eighth Street, Suite 170, Seal Beach, CA
Dear Sharon:
CITY HALL
211 EIGHTH STREET
SEAL BEACH, CA 90740
(562) 431 -2527
www.sealbeachca.gov
Enclosed please find two fully executed documents of the above referenced addendum
to the lease agreement. We have kept one for our records.
Sincerely,
Winnie Bell
Part-Time Executive Assistant
City Clerk's Office
City of Seal Beach
wbell(a)sealbeachca.gov
562 - 431 -2527 Ext.1304
Pacffiffiest
AsselManagement Corpordlion
January 26, 2016
Ms. Jill R. Ingram
City Manager
CITY OF SEAL BEACH
211 Eighth Street
Seal Beach, CA 90740
RIECIEWED
FEB 0.3 2016
CITY CLERK
CITY OF SEAL BEACH
RE: CITY OF SEAL BEACH — ANNEX BUILDING
MICKI SANGSTER; HELLO GORGEOUS
201 EIGHTH STREET, SUITE 170, SEAL BEACH, CA
FIFTH ADDENDUM TO LEASE
Dear Jill:
Enclosed please find three (3) Fifth Addendum to Lease agreements, executed by Micki Sangster
for her one- (1) year lease renewal plus an option to renew for a one (1) year term, as approved,
at the above - referenced location.
Please execute all documents, retain one (1) for your records, and return the remaining two (2) to
my attention for distribution to the appropriate parties.
If you have any questions, please let us know, and thank you for the opportunity to work with the
City on this building. Thank you.
Sincerely,
PacifieWest
Asset Management Corporation
Sharon Ference
Vice President
Enclosures
Mailing Address 0 Post Office Box 19068 0 Irvine, California 92623 -9068
3191 D Airport Loop O Costa Mesa, California 92626 - 3404 0 (714) 433 -7300 Fax (714) 433 -7330
FIRST ADDENDUM TO LEASE AGREEMENT
THIS ADDENDUM TO LEASE AGREEMENT is entered into by and between the City of Seal
Beach ( "City"), and Micki Sangster ( "Tenant "), this 1 day of November, 2002.
WHEREAS, on or about August 1, 1998, City and Tenant entered into a Lease and Operating
Agreement ( "Lease ") whereby Tenant agreed to lease from City those certain Premises commonly
described as Old City Hall, Suites 170 - 190.
WHEREAS, City and Tenant desire to modify, alter or amend certain provisions of said Lease as
set forth in this Addendum:
NOW THEREFORE, City and Tenant agree as follows:
1. Tenant agrees to extend their Lease from January 1, 2003 to December 31, 2007.
2. The Monthly Rent for the Premises shall be Two Thousand Four Hundred Twenty Eight
Dollars ($2,428). Monthly Rent shall increase throughout the term as follows:
January 1, 2004 to December 31, 2004 $2,500
January 1, 2005 to December 31, 2005 $2,576
January 1, 2006 to December 31, 2006 $2,653
January 1, 2007 to December 31, 2007 $2,733
Except as expressly modified, altered or amended by this Addendum, all other terms,
conditions, and covenants of said Lease shall remain in full force and effect.
LESSOR TENANT
City of Seal Beach Micki Sangster
BY: aa o.&. BY/k'
Mayor i Sangster
Date: jgaiiIA/f/ /4 ,,%90,2., Date: � t
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