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Home My WebLink AboutC-3248(B) - East Balboa Blvd, 707 - Termination of Leasehold 2015 (Balboa Theater)r y€ ! C RECORDING REQUESTED BY AND-'� WHEN RECORDED RETURN TO,,, { City of Newport Beach 100 Civic Center Drive P.O. Box 1768 r Newport Beach, California 92658-8915 1 Attn: City Clerk Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder NO FEE I 0 00006$*�� 2015000162426 8:27 am 03131115 47 411 T01 8 0.00 0.00 0.00 0.00 21.00 0.00 0.00 0.00 (Exempt From Recording Fees Pursuant to Government Code § 27383) (SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY) TERMINATION OF LEASEHOLD This Termination of Leasehold is made this Z` TH day of March, 2015, by and between the CITY OF NEWPORT BEACH, hereinafter called "Lessor," and the Balboa Performing Arts Theatre Foundation, hereinafter called "Lessee." RECITALS A. Lessor and Lessee executed a Lease entitled "Lease By and Between the City of Newport Beach and the Balboa Performing Arts Theatre Foundation" ("Lease"), on December 11, 1998, which was recorded January 29, 1999, by the County Recorder of Orange County, California as Instrument No. 19990066742. By the terms of the Lease, the following described property was leased to Lessee until November 23, 2023. Lots 4 and 5, Block 10, Balboa Tract, in the City of Newport Beach, as shown on a map recorded in Book 4, Page(s) 11, of Miscellaneous Maps, in the office of the County Recorder of Said County. B. Lessor and Lessee executed the First Amendment to Lease on September 27, 1999, which was recorded April 14, 2000, by the County Recorder of Orange County, California as Instrument No. 20000181651 to amend insurance requirements. C. Lessor and Lessee executed the Second Amendment to Lease on December 13, 1999, which was recorded April 14, 2000, by the County Recorder of Orange County, California as Instrument No. 20000181652 to delete the requirement for interior improvements to be consistent with the Guidelines for the Rehabilitation of Historic Structures ("Guidelines") published by the Secretary of the Interior. D. Lessor and Lessee executed the 12, 2000, which was recorded February 26, County, California as Instrument No. 20010 Third Amendment to Lease on December 2001, by the County Recorder of Orange 087259 to modify provisions that require certain exterior improvements consistent with the Guidelines. E. Lessor and Lessee executed an Amended and Restated Lease on September 14, 2004, which was not recorded, to amend the Lease to enable Lessee to make the property viable for present-day use as a first class community multi -use Theatre. F. On October 2, 2014 Lessor served Lessee with a Notice of Material Breach for failing to adhere to the Schedule for Required Improvements detailed in Lease Section 8.7 (attached hereto as Exhibit A and incorporated herein by reference). The Notice gave thirty (30) days to cure. G. Thereafter, after failing to cure within thirty (30) days, Lessor served Lessee with a Notice of Termination of Lease (attached hereto as Exhibit B and incorporated herein by reference), thereby terminating the Lease on November 12, 2014. Lease. H. This Termination of Leasehold is to memorialize the termination of the [SIGNATURES ON NEXT PAGE] NOW, THEREFORE, in consideration of the mutual promises, covenants, benefits, obligations and agreements set forth herein. The Parties agree as follows: 1. The Lease was terminated effective November 12, 2014 and the Parties agree to discharge and release each other from all obligations under the Lease as of said date. 2. This Termination of Leasehold shall be recorded with the County Recorder of Orange County pursuant to California Government Code Section 37393, IN WITNESS WHEREOF, the parties have caused this Termination of Leasehold to be executed on the dates written below. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: 7-115'. 1� By:�' Aaron C�Ha#p thm mizr/ia` City Attorney ATTEST: a Date: By: Leilani I. Brown City Clerk CITY OF NEWPORT BEACH, a California municipal corporation Date: 3120 (c Dave K(ff City Manager LEESSEE Date: fJ3-/7—/-t� By: O -J , � Evelyn Hartf - r Executive Director, Balboa Performing Arts Theatre Foundation [END OF SIGNATURES] ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of ®R-Rrt CSF, } ss. On wA ta; i2 C ,ti l -i 20 15 before me, lrtvrrtr� tant�t 1Ml5lYE Notary Public, personally appeared [=: V au'(P4 P4 ZZ C— ij A P 1 , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signatures(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 1 certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. de- - - ANN N- - - WITNnE Commission # 2045022 S my hand and official seal. < : „ Notary Public - caiitorma Orange County My Comm. iree Oct 12 20174 Signature seal) ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of ORh1N CSF. } ss. On Innf-kc" 2D 20I ' before me, JcNwrE12 ANfy nv %,UYE-f Notary Public, personally appeared DAME KLFF 'proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signatures(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS=handofficial seal. ! • �'" ' -""" """ MULVEY = .:0 Commission # 2045022 z Notary Public - CaBtornla orange County IV- c��gnaturie- M Comn,Exirea0ct12,20/7~ (seal) j on an MV14 • • Y • 1 COMMUNITY DEVELOPMENT October 2, 2014 Delivery via First Class U.S. Mail Executive Director C/O Evelyn Hart Balboa Performing Arts Theatre Foundation P.O. Box 752 Balboa, CA 92661 RE: Notice of Material Breach Matter No.: Al 0-00276 Dear Ms. Hart: Please be advised that as a result of the Balboa Performing Arts Theatre Foundation's ("Foundation") failure to adhere to the Schedule for Required Improvements detailed in Section 8.7 of the Amended and Restated Lease dated September 14, 2004 ("Lease'), the City of Newport Beach ("City") hereby places the Foundation on notice of the City's intent to terminate the Lease. As such, please accept this letter as a formal Notice of Default. Pursuant to Section 22.3 of the Agreement, the Foundation has thirty (30) days to cure. If no remedy is made on or before November 1, 2014, you will thereafter be served with a Notice of Termination. ' c e , a r n 0oding Whitlinger Real perty Administrator copy to file 100 Civic Center Drive - Post Office Box 1768 • Newport Beach, California 92658-8915 Telephone: (949) 644-3200 • Fax: (949) 644-3229 - www.newportbeachea.gov • COMMUNITY DEVELOPMENT November 12, 2014 Delivery via First Class U.S. Mail Executive Director C/O Evelyn Hart Balboa Performing Arts Theatre Foundation P.O. Box 752 Balboa, CA 92661 RE: Notice of Termination of Lease Matter No.: A10-00276 Dear Ms. Hart: The City of Newport Beach hereby terminates the Amended and Restated Lease dated September 14, 2004 ("Lease") as a result of the Balboa Performing Arts Theatre Foundation's ("Foundation") failure to adhere to the Schedule for Required Improvements detailed in Section 8.7. Pursuant to Section 22.3 of the Lease, the Foundation was previously served with a formal Notice of Default and failed to correct the default within the thirty day cure period. Thus, the Lease is hereby terminated effective immediately. sin rely, La o ding Whitlinger Real Property Administrator copy to file 100 Civic Center Drive - Post Office Box 1768 • Newport Beach, California 92658-8915 Telephone: (949) 644-3200 • Fax: (949) 644-3229 • www.newportbeachca.gov