HomeMy WebLinkAbout1667 - Lease Amendment with JA Beek3
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LAW OFFICES OF
ROLANO THOMPSON
210 SPURGEON BUILDING
SANTA ANA. CALIFORNIA
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1iESOLtTY'IO3` ,1'C• �
1,i11N A$, there has this'dav been presented to the
City Council of the City of Newport Beach e. certain Agreement
Amending 'Lease, dated the day of October, .19390 by and
between City of Ne. ort Beach de .first party, and J. Deep, as
party,of the second part; and
MIERE -95, said Agreement amendin; lease, provides
that in order to increase the City's revenue and further that
more houses may be erected upon the lands covered by..lease
dated July 18th, 1938, recorded Liarch 9th, 19390 In Book 0820
page 4419, Official Records of Orange County, and amendment thereto
da't�ed February' 6, 1939, recorded Larch 9th, 1039; in Hook n8'?, 2t
page 183, Official 13ecords of Orange County, the term.of s„id
lease is egtended to lovemba.r 9th- 1971• Md.
"'H REA5, the City Council,ofthe City of ?ewport Beach
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deems that it is for the best interests LAnd. advantage of the
City of Newport Beach the V. said extension be gra'nt'ed., and that
the terms and conditions thereof are in all respects fair,
just 'and. adequate. .
NOW* THEMPOREj M IT WWOLVM:. That the layor and
City Ciork ofthe city of Nei ^port'Deaoh be, and they are hereby
direoted; authorized and instructed to oxecute said Agreement
"Amending'Lease, in the .,name of and on behalf of the city of idea -
port.Beech, and that a duly.executed ropy thereof be delivered
to J. A. Beek, the party of the second.a rt therein mentioned.
I herebyeertifp that the above and foregoing
Resolution was duly and..regularly• passed and adented by the
City Council o the City of Novro'rt Beach at a'
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1 regular meeting thereof held on the — day of + A 1;,
2 1939, by the follOting vote, to —gait:
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..cJ. AXE$s COUNCIL,L'iL:IJ:
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8 NOES; COUNCIL=N: j4 i t e --
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10 AB9BF11Ts COUNCILUEN:
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14. dyorrof� the city of Newr ort
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15 Beach
16 ?EST: .
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LAW OFFICES OF
ROLAND THOMPSON
210 SPURGEON BUILDING
SANTA ANA. CALIFORNIA
1 regular meeting thereof held on the — day of + A 1;,
2 1939, by the follOting vote, to —gait:
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..cJ. AXE$s COUNCIL,L'iL:IJ:
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8 NOES; COUNCIL=N: j4 i t e --
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10 AB9BF11Ts COUNCILUEN:
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14. dyorrof� the city of Newr ort
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15 Beach
16 ?EST: .
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LAW OFFICES OF
ROLAND THOMPSON
210 SPURGEON BUILDING
SANTA ANA. CALIFORNIA
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AGRZh9E W A
A M S N D I N p L G A S S
4 WS AGREEMENT entered into tole' day of October,
5 1839, between the CITY OF WWOPT R,,ACFI, A. KUnielgal corporation ri
6 of the sixth class of Orange County, California, hereinafter
7 referred to as the City, and J. A. Beek of Balboa IR1and, in
8 the City of Newport Beach, County of Orange, Mate of California,
9 hereinafter referred to as they party of the second Fart.
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1 T N E S S r1 T H_
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12 Reference is hereby made to the "Lease and Amendment of
13 Former.Lease• between the partiee hereto, dated July 18th, 1938,`U
14 reoerdo March 6th, 19390 in Hook 988, page 448 Of Official
15 Reoords.of amid County, and to the amendment thereto dated
16 ft .8th, 1959, recorded March 9th, 1939, 1n 8eok 987• page
17 =•oY; official Records of said County.
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;Up" the oondltions.. here Lust ter stated, in oonsideration
19 of the rentals from sub - lessees to the City hereinafter mentioned,
20 and•in.order to increase the City's revenue under the terms of
21 said lease by qualifying thereof under the requirements of.the .'
22 �. HtiLe ",so that more houses may be erected
upon ffie,1 -ands coverer
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by'sald lease, under subleases thereunder, the term of said leai"e
24 is hereby extended to November 9th, 19710
25 The conditions hereof aret
26 1. This extension shall apply only to those lots or the
27 land covered by said lease set aside by said second party for
28 residential purposes, upon which dwellings shall have been
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Constructed or erected or the construction ofwhioh shall have bobi
30 dommenced prior to November 9the 1941s with ingress and egress
31 thereto, which dwellings shall have been ,approved for loans to be
32 insured by the Federal Housing Administration and finaneed.:in whsiie
LAw oPPlcce III, or in t pursuant to such a
ROLANO TNOMPSON � � Pproval.
310 SPUBOBON BUILDING
SANTA ANA, CALIPOANIA
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1 B.' That from and after November 8th, 19620 (the end of tht
2 Original term of said lease) all rentals and other payments thelea,
3 after: payable by sub - lessees under all subleases.of said.land,
4, which shall QualIfy.under the terms hereof, shall be paid dir"U.y
5 tm..the City. by sod �mub- lessees. The party of the second pare
i ba► .mdves::Au ,,claims to said- rentals due.;" said sub. ,
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7 lessees and directs them to-pay the saes direct.to the Ot4j►,
and-
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se�id second party Is hereby released from and,'
after BtA,
1988, from his obligation for Payment of acreage rental•.and - pert
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can" Of gross.receipti rentals under said loaee.,vith the said
11 City. S� .That 'the annual' r"tale Payable by. s ai_d, * s
ub.lbessee12 °
to the'City',from. and after 'November 8th, 1962, during the term
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of thia''extension,'. small not be less titan' thi'. annual_ realm,
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provided ",to be paid tar the.years prior to Noyemb®r 8th, 1968,.
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undet",iaoh-:respeetive sublease as to which ,this extension .applies.
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'd. V Any.lot.or parcel.of ®aid leased land.set aside by
said second party for residential purpoea's'upon ehich:•a duelling
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shall not rio
have been treated or commenced pr Ito itovaiaber>:9th,
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911, under the approval of the Federal Housing Adis,iniitrat'lea,
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rhaLl not be subject to the above extension and in. this connection'
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It is epeotfica 1y understood and agreed
between said parties that
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this mxteasion shall only affect the propertlea iierein- men tionedt.
23 ch have to date hersol, or which shall hereafter'qualify for e•
24 Federal Housing Administrrtion loan prior to November 9th, 1961.
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IN WITERS5 WHSUOF, the said Ci tr of Newport Beach.. has
26 routed this
agreement pursuant to reeoiution of it City Oouaeil
27 ted Ooto
bq r %9� , 19390 authorizing its corporate name and Bea],
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". be subscribed and affixed hereto by the Mayor and City Clerh.0lt"
29 a City of Newport Beach, and second party has hereunto not his,
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mad.this _,^,+ day of October, 19W.
31 CIi tik @IZe?POR'P BRACH
32 By Kayor
LAW OFFICES OF
POLAND THOMPSON
310 SPURGEON SUILDINO
SANTA ANA. CALIFORNIA
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