Agenda Packet_2026-04-07 - Laserfiche WebLink

Home Browse Search

5. PARKING (1.4 SR) owned property. Other than golf carts in the process of play, no parking shall be permitted upon the Premises without written approval of the District. 6. TERMINATION OF PRIOR AGREEMENTS (1.5 SR) Intentionally Deleted 7. TERM (1.6 SR) The initial term of this Lease shall be for Twenty Five (25) years (Term), commencing May 1, 2026 at 12:01AM (Commencement Date), unless otherwise modified by mutual written consent of the Parties, and upon the conditions that both the District Agreement and City Agreement are no longer in effect and the prior tenant, River View Golf LLC, has vacated the Premises. The Parties agree that the Commencement Date of this Lease will be confirmed in writing by either Party upon demand by the other. Either Party may terminate this agreement at any time, without cause by giving the other Party one (180) advance notice of such termination. 8. OPTION TO EXTEND TERM (1.7 SR) Provided City is not in and has not been in Default under this Lease or any approved Extension Term of this Lease, as defined in Clause 32 (DEFAULTS AND REMEDIES), City may exercise its right to extend the Lease for up to five (5) additional, five- (5) year terms (Extension Term s). A request from the City for an extension shall be in writing and must be made no later than one hundred and twenty (120) days prior to the expiration of this Lease or preceding Extension Term. 9. RENT (1.8 SR) A. Base Rent. The City shall initially pay to the District annual rent in the amount of Two Hundred Thousand Dollars ($200,000) for the first 12 months of the Term of this Agreement, payable in twelve (12) equal monthly installments. Thereafter, the City shall adjust its rent in accordance with subdivision (B) of this Clause. The first installment shall be due on the Commencement Date of this Lease. th B. CPI Adjustment. Beginning with the thirteenth (13) month of the Term, and annually thereafter, the Rent shall be increased by an amount equal to the percentage increase in the Consumer Price Index for all urban consumers, Los Angeles-Anaheim-Riverside statistical area, all items (1982-84 = 100) published by the United States Department of Labor, Bureau of Labor Statistics ("CPI") for the preceding 12-month period, if any such increase has occurred. Said CPI adjustment will be capped at a maximum increase of three percent (3%) each adjustment. The adjusted rent shall be effective with the payment due at the start of each adjustment period. C. Additional Rent. In the event that City uses or permits the Premises to be used for any activity not expressly permitted herein, City shall pay to District the greater of Five Hundred Dollars ($500) 3/2/2026 Page 4 of 41 Lease Number Agency/Program Standard Revenue Lease Form