HomeMy WebLinkAboutC-7341-2 - Beacon Bay, 5 - Agreement to Lease 1983AGREEMENT TO LEASE
THIS AGREEMENT TO LEASE, made and entered into on
the day of 1981, by and between the CITY OF NEWPORT
BEACH, a chartered municipal corporation, hereinafter "City,"
and ROBERT H. BROWNSBERGER and CONSTANCE K_ BROWNSRFRr'FR
"Sublessee."
TlT /1TTT T A
, hereinafter
A. City holds title to and is the owner of certain
harbor frontage and tidelands, together with certain uplands
abutting thereon known as Beacon Bay and more particularly
described in Exhibit "1" attached hereto and made a part hereof
by this reference.
B. Carroll B. Beek, Barton Beek, Joseph Allan Beek,
Jr., and Seymour Beek jointly hold a Master Lease to said proper-
ty dated January 9, 1950, which Master Lease expires on December
31, 1987.
C. The "Westerly Portion" of the Beacon Bay property
has been divided into individual lots and subleased for
residential_ purposes.
D. All of said subleases expire on the same date as
the Master Lease, to wit: December 31, 1987.
E. City believes it to be in the best interest and
welfare of City: (1) that the portion of Beacon Bay which is
currently leased for residential purposes remain residential in
constitute tidelands as authorized by Chapter 74, Statutes of
1978.
G. It is further the judgment of City that in entering
into this Agreement to Lease in the future, City is acting pur-
suant to its proprietary powers.
NOW, THEREFORE, IN CONSIDERATION OF THE FOREGOING
RECITALS AND THE MUTUAL COVENANTS set forth below, City and Sub-
lessee hereby agree as follows: `
1. City hereby agrees to lease to Sublessee and Sub-
lessee hereby agrees to lease from City the real property
described in Exhibit "2" attached hereto and by this reference
made a part hereof (hereinafter the "Leased Land") pursuant to a
lease substantially in the form of Lease which is attached hereto
marked Exhibit "C" and by this reference made a part hereof, and
under the terms and conditions as set forth below.
2. In consideration of City's agreement to lease to
Sublessee hereunder, Sublessee agrees to pay to City on the lst
day of each month following the date of this Agreement and on the
lst day of each month thereafter through the lst day of December,
1987, a sum determined by subtracting from the fair market rental
value of � (annualized) on J (AV �Z -
(the "Effective Date"), the payments made by Sublessee under a
sublease on the Leased Land to the Master Lessee of Beacon Bay
described in Paragraph A of the Recitals above
IN WITNESS WHEREOF, the parties have caused this Agree-
ment to Lease to be executed on the date first above written.
ATTEST:
/ J
City Clerk
APPROVED AS TO FORM:
Pim
ity ttorney
5-4-81
I�-
A
CITY OF NEWPORT BEACH
B
'. Mayor
Sublessee