HomeMy WebLinkAboutC-9844-2 - Memorandum of Concession Agreement (for Use of the Concession Facility at the Central Library Located at 1000 Avocado Avenue)6/18/25, 11:12 AM
Batch 19391426 Confirmation
Recorded in Official Records, Orange County
Hugh Nguyen, Clerk -Recorder
III II II III IIII II III I II III �� NO FEE
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2025000173972 09:36 am 06/18/25
486 NCOUNTY5 M10 6
RECORDING REQUESTED AND 0.00 0.00 0.00 0.0015.00 0.00 0.00 0.00 0.00 0.00
WHEN RECORDED RETURN TO:
Office of the City Clerk
City of Newport Beach
100 Civic Center Drive
Newport Beach, CA 92660
[Exempt from Recordation Fee - Govt. Code §§. 6103 and 273831
MEMORANDUM OF CONCESSION AGREEMENT
This Memorandum of Concession' Agreement ("Memorandum") is dated
Ln2 II . 102.5 and is made between City of Newport Beach, a California municipal
corporation and charter city ("City") and KIT at the Library, Inc., a California stock
corporation ("Concessionaire"), concerning the Premises described in Attachment 'A"
attached hereto and by this reference made a part hereof.
For good and adequate consideration, City leases the Premises to Concessionaire and
Concessionaire leases the Premises from City, for the term and on the provisions
contained in the Concession Agreement ("Agreement") dated 1uv% II , Zo2.5 ,
including without limitation provisions prohibiting assignment, subleasing, and
encumbering said leasehold without the express written consent of City in each instance,
all as more specifically set forth in said Agreement, which said Agreement is incorporated
in this Memorandum by this reference.
The term is five (5) years, beginning l ru, 2025, and ending
2030, on the same terms and conditions contained in the Agreement.
This Memorandum is not a complete summary of the Agreement. Provisions in this
Memorandum shall,not be used in interpreting the Agreement's provisions. In the event
of conflict between this Memorandum and the Agreement, the Agreement shall control.
Execution hereof constitutes execution of the Agreement itself.
[SIGNATURES ON NEXT PAGE]
Memorandum of Concession Agreement - KIT at the Library, Inc. 1
https://gs.secure-erds.com/Batch/Confirmation/19391426 1 /4
RECORDING REQUESTED AND
WHEN RECORDED RETURN TO:
Office of the City Clerk
City of Newport Beach
100 Civic Center Drive
Newport Beach, CA 92660
[Exempt from Recordation Fee - Govt. Code §§. 6103 and 273831
MEMORANDUM OF CONCESSION AGREEMENT
This Memorandum of Concession Agreement ("Memorandum") is dated
InQ. II . N V0 and is made between City of Newport Beach, a California municipal
corporation and charter city ("City") and KIT at the Library, Inc., a California stock
corporation ("Concessionaire"), concerning the Premises described in Attachment "A"
attached hereto and by this reference made a part hereof.
For good and adequate consideration, City leases the Premises to Concessionaire and
Concessionaire leases the Premises from City, for the term and on the provisions
contained in the Concession Agreement ("Agreement") dated 1uv,.e. II Z02-5 ,
including without limitation provisions prohibiting assignment, subleasing, and
encumbering said leasehold without the express written consent of City in each instance,
all as more specifically set forth in said Agreement, which said Agreement is incorporated
in this Memorandum by this reference.
The term is five (5) years, beginning ln-L 2025, and ending
juv,-c. 1N , 2030, on the same terms and conditions contained in the Agreement.
This Memorandum is not a complete summary of the Agreement. Provisions in this
Memorandum shall not be used in interpreting the Agreement's provisions. In the event
of conflict between this Memorandum and the Agreement, the Agreement shall control.
Execution hereof constitutes execution of the Agreement itself.
[SIGNATURES ON NEXT PAGE]
Memorandum of Concession Agreement - KIT at the Library, Inc. 1
IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum as
of the date first written above.
APPROVED AS TO FORM: CITY OF NEWPORT BEACH ("City"),
CITY ATTORNEY'S OFFICE a California municipal corporation and
charter city
Date: Date:
By: By:
Aaron Har 3 �� ,� l�� Grac Leung
City Attorn City anager
ATTEST: CONCESSIONAIRE: KIT at the Library,
Inc., a California stock corporation
Date: % �� Date:
By:
�-
Leilani I. Brown
City Clerk
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Signed in Counterpart
Eunice Hwang
Managing Member
Memorandum of Concession Agreement - KIT at the Library, Inc. 2
IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum as
of the date first written above.
APPROVED AS TO FORM: CITY OF NEWPORT BEACH ("City"),
CITY ATTORNEY'S OFFICE a California municipal corporation and
charter city
Date: Date:
By: By:
Aaron Harp Grace K. Leung
City Attorney City Manager
ATTEST: CONCESSIONAIRE: KIT at the Library,
Inc., a California stock corporation
Date: Date: 36 412s
By: By;
Azg----
Leilani I. Brown Eunice Hwang
City Clerk Managing Member
SEE ATTACHED
NOTARIZED DOCUMP
Concession Aareement - KIT at the Librarv. Inc.
ATTACHMENT "A"
PREMISES
Memorandum of Concession Agreement - KIT at the Library, Inc. A-1
,\ ��_
Li ��Exhibit A