STEADFAST COURTYARDS 1C - 2006 - Laserfiche WebLink

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A-200S-309C CITY LEASE AGREEMENT THIS CITY LEASE AGREEMENT (this "Lease") is made as of , 2006 by and between the City of Santa Ana, a charter city duly organized under the Constitution and laws of the State of California ("Lessee") and Steadfast Courtyards, L.P., a California limited partnership ("Lessor"), with reference to the following facts: A. Lessor is the owner of that certain real property located in the City of Santa Ana, County of Orange, State of California, bearing Assessors Parcel Numbers 002-162- 05,002-162-06,002-162-07,002-162-30, 002-162-31, 002-162-32, 002-162-33 and 002-162-34 (the "Premises"). B. Lessor acquired the Premises from Lessee in accordance with the terms and provisions of that certain Land Exchange Agreement and Joint Escrow Instructions ("LEA") dated as of September 6, 2005 by and between Lessor and Lessee. C. Pursuant to the LEA, Lessor has agreed to lease the Lessor Property to Lessee for the purposes and subject to the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the covenants contained in this Lease and other good and valuable consideration, receipt of which is acknowledged, the parties hereto hereby agree as follows: I. Lease. Lessor hereby leases to Lessee and Lessee hereby Leases from Lessor all of the Premises. Lessor and Lessee each acknowledge and agree that this Lease does not include the right to use any portion of the buildings located on the Premises. Lessee shall only use the Premises for (i) pedestrian and vehicular ingress, egress and access, and (ii) parking for the benefit of guests, employees, invitees and patrons of the Bowers Museum. Lessor reserves the right to use the Premises for any and all purposes which do not prevent Lessee's use ofthe Premises for the foregoing purposes. 2. Term. The term of this Lease shall commence on the date of this Lease and shall terminate and thereafter be of no further force or effect on the date that is ninety (90) days after the date of this Lease (such period is referred to herein as the "Term"). Upon the expiration of the Term, Lessee shall fully and completely vacate the Premises. 3. Rent. Lessee shall pay to Lessor the sum of $1.00 as rent for the Term. Lessor acknowledges and agrees that Lessee has paid such rent in full prior to the date hereof. 4. Maintenance and Repair. Lessee shall be responsible, at its sole cost and expense, for maintaining the Premises during the Term, as such actions may be required from time to time to keep the Premises in good order, condition and repair. 5. Insurance. As a condition to the commencement of the Term, and before Lessee may use the Premises in any manner, Lessee shall deliver to Lessor certificates or other written confirmation satisfactory to Lessor showing that Lessee has in effect a comprehensive general public liability insurance policy including, but not limited to, owned and non-owned 40836735.16