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HomeMy WebLinkAbout20140814_Parking Lease Agreement' r PARKING LEASE AGREEMENT ~1;.oE.IVED s r COMMUNITY AUG 14 2014 (:J:>_ DEVELOPMENT ,-,:- J-. '1--c., 0,:-'l;,x: N1:.wpoP.."' This lease ("Parking Lease") is between GP' s Landing, LLC, hereinafter called Lessor, and Grill Concepts CD, Inc. hereinafter called Lessee. I. Recitals Lessor and Lessee entered into a Retail Lease effective as of February 20, 2014, for the lease ofrestaurant space at 2801 West Coast Highway, Newport Beach, CA ("Retail Lease"). The purpose of this Parking Lease is to provide a portion of the parking spaces that are required by the City of Newport Beach for the operation of the restaurant by Lessee. 2. Description Lessor leases to Lessee and Lessee hires from Lessor, upon the terms and conditions stated herein, the parking lot located at 2620 Avon Street, City of Newport Beach, County of Orange, State of California, consisting of twenty four (24) parking spaces, hereinafter referred to as "Parking Lot". 3. Use The Parking Lot is to be used only for valet parking of cars of customers of Lessee's restaurant located at 2801 West Coast Highway, Newport Beach. Lessee's customers may not park their own cars at the Parking Lot. Lessee's employees may not park their cars at the Parking Lot. Lessor has the right to tow such cars from the Parking Lot. Lessee's valet parking may begin at 5:00 p.m. each day, and must end no later than 3:00 a.m. the following morning. Lessor has the right to tow from the Parking Lot any of Lessee's valet-parked cars left after 3:00 a.m. Failure to restrict the use to the times and purpose specified herein shall constitute a breach o f this Parking Lease. 4. Term The term of this Parking Lease shall be ten ( I 0) years commencing on the Commencement Date, as that term is defined in the Retail Lease, subject to extension as provided in Section 2 I .20 of the Retail Lease. 5. Rent The rent for this Parking Lease is included in the rent for the Retail Lease and no additional rent shall be due from or payable by Lessee. 6. Liability Insurance Lessee agrees to obtain public liability insurance at Lessee's expense, adequate to protect Lessor against liability for damage claims through public use of or arising out of accidents occurring on the Parking Lot of relating to or arising out of the use of the Parking Lot in a minimum amount of$1,000,000.00 for any one accident. Such insurance shall be subject to approval by Lessor, such approval not to be unreasonably withheld or delayed. The insurance shall be maintained during the full term of this Parking Lease, and any extension hereof. Such insurance policies shall name Lessor as co-insured. Copies of the certificates of insurance shall be delivered to Lessor in a timely manner upon institution or renewal of such insurance. Lessee agrees to obtain a written obligation from the insurers to notify Lessor in writing at least thirty (30) days prior to cancellation or refusal to renew any such policies. 7. Assignment. Sublease No assignment or sublease of this Parking Lease can be made to anyone other than an approved assignee of the Retail Lease. Any assignment or sublease made without the prior· written consent of Lessor is void and shall terminate this Parking Lease. Lessor's consent to one assignment or sublease shall not be considered a consent to any subsequent assignment or sublease. Lessee's interest in this Parking Lease is not assignable by operation oflaw. 8. Termination Lessor may terminate this Parking Lease if Lessee fails to receive a permit to operate a restaurant at 2801 West Coast Highway within the time frame set forth in the Retail Lease by giving written notice to Lessee. Termination will take effect thirty (30) days after Lessee receives such written notice from Lessor. 9. Waiver of Claims for Injuries and Damage Lessee waives all claims against Lessor, its agents and employees, for damage of any kind to property or merchandise of Lessee or for injuries to Lessee, its employees, guests, customers and licensees, arising out of or caused on the Parking Lot or resulting from Lessee's occupancy or use of the Parking Lot. 10. Nonliability of Lessor Indemnity and Hold Harmless Clause Lessee hereby covenants and agrees to indemnify Lessor and hold Lessor harmless fu>m all liability, loss, damage, claims, obligations, costs, fees and other expenses arising out of injury to persons, including Lessee and his agents or employees, guests and customers, or for property damage, in or around the Parking Lot or from any cause arising out of Lessee's occupancy or use of the Parking Lot. 11. Remedies on Breach If Lessee breaches this Parking Lease, Lessor shall have all rights and remedies provided by law. · 12. Notice of Breach It is specifically agreed that upon breach of this Lease Lessor will give written notice of the breach to Lessee who shall have Fifteen (150) days to cure the breach and if not cured within that time frame, Lessor may terminate the lease by giving written notice of such termination to Leasee. 13. Signs. Awnings Lessee agrees that it will not construct or place or permit to be constructed or placed 2 (~ ' r· I signs, awnings, marquees or other structures or improvements without Lessor's written consent and approval of the City of Newport Beach, if such approval is required. 14. Attorney's Fees If any action is filed to enforce any covenant of this Parking Lease or for breach of any covenant herein, the losing party agrees to pay the reasonable attorneys' fees and costs of the prevailing party. 15. Lessor's Waiver Lessor's waiver of breach of one term, covenant or condition of this Parking Lease is not a waiver of breach of oth<:ts nor of subsequent breach of the one waived. 16. Holding Over In case Lessee holds over after the end of the term herein provided, with the consent of the Lessor, such tenancy shall be from month to month only subject, however, to each and every other term, covenant and condition of this Parking Lease. 17. Time is of the Essence Time is of the essence of this Parking Lease. 18. Insolvency or Bankruptcy Lessee's general assignment for benefit of creditors, appointment of a receiver (except a receiver appointed at Lessor's request), or Lessee's insolvency or taking or suffering action under the Bankruptcy Act is a breach of this Parking Lease. 19. Subordination This Parking Lease is to subject to and subordinate to any mortgages or trust deeds now on or that may be hereafter placed against the Parking Lot, and to all advances made or that may be made on account of the encumbrances, to the full extent of the principal sums secured thereby and interest thereon. · 20. Successors in Interest Subject to the provisions regarding assignment and subleasing, this Parking Lease shall apply to and bind the heirs, successors, executors, administrators and assigns of the parties. All parties shall be jointly and severally liable. 21. Notice All notice given pertaining to this Parking Lease shall be in writing and delivered personally or by registered mail, postage prepaid, addressed as follows: Lessor's address for this purpose shall be: GP's Landing, LLC, 2801 W. Coast Highway, Suite 270, Newport Beach, CA 92663. Lessor's address for this purpose may be changed by written notice to Lessee. 3 I~ Notices to Lessee shall be addressed to: Grill Concepts CD, Inc., 6300 Canoga Ave., Suite 600, Woodland Hills, CA 91367, or such other address as may be designated in writing to Lessor. 22. Written Agreement This Parking Lease may be amended only in writing and no oral amendment shall affect the terms of this Parking Lease. 23. Entire Agreement This Parking Lease is the entire agreement between the parties. There are no other oral agreements or representations not contained herein. Lessee: Lessor: Grill Concepts CD, Inc. GP's Landing, LLC By: ___________ _ By: __________ __;_ Gary Primm Its: -------------Managing Member Its: H:ICLIENl\GPs Landing\Ritzll.ease\PARKING LEASE AGREEMENT.doc 4