HomeMy WebLinkAbout83-39 - Balboa Angling Club LeaseRESOLUTION NO. 83 -39
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH AUTHORIZING THE MAYOR & CITY
CLERK TO EXECUTE AN AMENDMENT TO A LEASE FOR
CERTAIN,CITY -OWNED REAL PROPERTY LOCATED AT
THE FOOT OF "A" ST., AND THE BAYFRONT TO THE
BALBOA ANGLING CLUB
WHEREAS, the City of Newport Beach and the Balboa
Angling Club entered into a Lease, first dated April 1, 1947,
which Leases, to The Balboa Angling Club, certain City -owned real
property located at the foot of "A" Street and the Bayfront on
the Balboa Peninsula; and
WHEREAS, the original Lease has been amended and
extended, at various times, since the inception of the Lease; and
WHEREAS, the current Lease expires January 31, 1999,-
and contains a provision which allows either party to terminate
the Lease, prior to its expiration date, by giving the other
party twelve (12) months' prior written notice; this provision
for early termination becoming effective May 1, 1984; and .
WHEREAS, the structure which houses The Balboa Angling
Club has been damaged by severe storms and unusually high tides
experienced by Newport Beach during the winter of 1982 - 1983;
and
WHEREAS, the damage caused by the storms and high tides
require major improvements and renovations to the structures on
the property that is the subject of the Lease, and The Balboa
Angling Club is reluctant to commit the funds necessary to make
those major repairs unless the Lease is modified, to eliminate
the provision which allows either party to terminate the Lease
upon twelve (12) months' written notice; and
• WHEREAS, it is in the interests of both parties to
amend the Lease, to eliminate the early termination provision so
that The Balboa Angling Club will have the incentive to commit to
make the repairs necessary;
0
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach that the Mayor and City Clerk are
• hereby authorized to execute an amendment to the Lease, a copy of
which amendment is attached to this Resolution as Exhibit "A ",
which eliminates the provision for early termination;
ADOPTED' -this 25th day of April , 1983.
RSP /Anglin
•
i
ue+ i
."71151
AMENDMENT TO LEASE
WHEREAS, the City of Newport Beach and the Balboa
Angling Club entered into a Lease, first dated April 1, 1947,
which Leases, to The Balboa Angling Club, certain City -owned real
property located at the foot of "A" Street and the Bayfront on
the Balboa Peninsula; and
WHEREAS, the original Lease has been amended, and
extended, at various times, since the inception of the Lease; and
WHEREAS, the current Lease expires January 31, 1999 and
contains a provision which allows either .party to terminate the
Lease, prior to its expiration date, by giving the other party
twelve (12) months' prior written notice; this provision for
early termination becoming effective May 1, 1984; and
WHEREAS, the structure which houses The Balboa Angling
Club has been damaged by severe storms and unusually high tides
experienced by Newport Beach during the winter of 1982 - 1983;
and
WHEREAS, the damage caused by the storms and high tides
require major improvements and renovations to the structures on
the property that is the subject of the Lease, and -.-The Balboa
Angling Club is reluctant to commit the funds necessary to make
those major repairs unless the Lease is modified, to eliminate
the provision which allows either'party to terminate the Lease
upon twelve (12) months' written notice; and
WHEREAS, it is in the interests of both parties to
• amend the Lease, to eliminate the early termination provision, so
that The Balboa Angling Club will have the incentive to commit to
make the repairs necessary;
NOW, THEREFORE, in consideration of the mutual promises
contained herein and all the covenants and conditions set forth
in the original Lease, and amendments thereto, it is agreed as
• follows:
1. - _.That all the terms and.conditions of the Lease
agreement dated April 1, 1947, as amended, are incorporated
hereby by reference as though fully set forth at length and the
parties hereto agree to be bound by all of those terms and
conditions provided, however, that the rights previously granted
each party to cancel and terminate the Lease, prior to its
expiration date by giving the other party twelve (12) months'
prior written.notice, is hereby deleted and, provided further,
that neither party will have the right to terminate the Lease
except pursuant to a material breach committed by the other
party.
IN WITNESS WHEREOF the parties hereto have executed
this agreement on the day and year first above written.
APYROVED AS TO FORM
'ty Attorney
BALBOA ANGLING CLUB
CITY OF NEWPORT BEACH
Mayor
ATTEST:
City Clerk
RSP /Anglin