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e <br />• <br />To, Cites Manager ,, s. Jan. 30, 1973 <br />-- <br />i=rem: Director of Finance <br />_ _. ~ ~ <br />;;~;,~~~~: Riverview Golf Course <br />The basic lease terms including modification 11/2/64 and amendment 11/21/66 <br />is summarized as follows: <br />I. Lease = (1) 25 yrs from 8/21/61 to 8/20/86 - 9 hole course & improvements to <br />be constructed at Lessee`s expense. <br />Terms <br />1. No rental required during 1st yr., 3% during next 9 yrs. on all <br />sales & services excluding foods & merchandise. <br />2. 4% next 10 yrs. <br />3. 5% next 5 yrs. <br />Plus insurance - See Article 19 - to protect City. <br />II. (2) Modification 11/2/64 <br />(A) Granted on option to renew for 25 yrs. to 8/20/2011 w/notification <br />to City of intent to exercise between 7/1/85 & 1/1/86 - Serve <br />notice on City Clerk & City Manager <br />(B) Extended terms: <br />1. 6% first 10 yrs. - excluding food & merchandise <br />2. 7% next 10 yrs. <br />3. 8% next 5 yrs. <br />III. (3) Amendment 11/21/66 <br />(A) Allow ingress & egress to single family residence of Novel B. James <br />& granting of easement therefore. <br />Gross receipts (exluding food & merchandise) and leasehold payments to the <br />City of Santa Ana from 1961 are as follows: <br />~~~ <br />.W:~~_. <br />~:~ .~ :. <br />~,; <br />