HomeMy WebLinkAboutC-3018 - Balboa Boulevard East, 600 - Lease Agreement - Automated Teller Machine (ATM) at Palm Street Public Parking Lot 1994Corporate Properties Group
Southern California
333 South Grand Avenue, Suite 700
Los Angeles, CA 90071
April 12, 1999
CERTIFIED MAIL, RETURN RECEIPT REQUESTED
City of Newport Beach
3330 Newport Boulevard
Newport Beach, CA 92658
Attention: City Manager
46 WA
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Re: Wells Fargo Bank — ATM Lease (AU#99538 L200)
200 Palm Street, Newport Beach, CA
To Whom It May Concem:
(213) 253 -3275
Fax (213) 620 -0554
Reference is made to that certain ATM Lease Agreement (the "Lease ") by and between
the City of Newport Beach, a California municipal corporation, as Landlord and Wells
Fargo Bank, a national banking association, as Tenant dated September 14, 1994.
Pursuant to section 2(b) of the Lease, Wells Fargo Bank hereby exercises its five (5) year
option to extend the Lease term commencing September 14, 1999 and expiring
September 13, 2004 under the same terms and conditions.
Please note that the address stated in section 1(a) of the Lease has changed from 600 East
Balboa Boulevard, Balboa, to the address stated above.
Please contact the undersigned if you have any questions or comments concerning the
above. Thank you for your courtesy and cooperation.
truly yqurs,
ri"M"
Printed on Reevolee Paper
C -3019
THIS ATM LEASE is made as of this e— day of .J v K 1994, by and
between the CITY OF NEWPORT BEACH, a California municipal corporation
( "Landlord ") and WELLS FARGO. BANK, NATIONAL ASSOCIATION, a national
banking association ('Tenant ").
(a) Landlord hereby leases to Tenant and Tenant hereby leases from
Landlord that space of sufficient size reasonably required for Tenant to
construct a kiosk to house up to two (2) automatic teller machines ( "ATMs ") and
one (1) night depository box, not to exceed three hundred (300) square feet,
located within that certain real property (the "Real Property ") commonly known
as 600 East Balboa Boulevard, Balboa, California, as more .particularly shown
on the site plan (the "Site Plan ") attached hereto as Exhibit A and made a part
hereof.
(b) Until Landlord elects to demolish the existing building and other
improvements located on the Premises. Tenant's now existing automated teller
machine (the "ATM ") shall remain in place on the exterior portion of the existing
building as indicated in the floor plan (the "Floor Plan ") attached hereto as
Exhibit B. If Landlord elects not to demolish the existing building and other
improvements located on the Real Property, Landlord covenants to use the
existing building for "general public purposes" and shall not enter into any lease
or other transaction granting a third party space in the existing building or other
improvements located on the Real Property to use for the operation of ATMs.
(c) When Landlord elects to demolish the existing building and other
improvements located on the Property, then Landlord shall give Tenant no less
than four (4) months notice of such election. Tenant shall be authorized to
construct the kiosk to house up to two (2) ATMs on the space indicated in the
Site Plan. In such event, that space shall then be deemed the "Premises" under
this Lease in lieu of the portion of the existing building shown in the Floor Plan.
Landlord shall use its best efforts to assist Tenant in obtaining all building and
other permits to construct, install and operate such kiosk and the ATMs. Tenant
shall use its best efforts to diligently construct the kiosk following Landlord's
notice of election to demolish the existing building and other improvements
located on the Real Property.
(d) Landlord shall designate at least one (1) stall in the parking lot on the
Real Property located nearest to the Premises for short term parking (not to
exceed fifteen (15) minutes).
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(a) T e initial term of this Lease shall commence on the /14 day of
1994, and shall expire five (5) years following that date.
(b) In addition, Tenant shall have three (3) consecutive options to extend the
initial term of the Lease for an additional five (5) year period each upon the
same terms and conditions. Each such option shall be exercised by Tenant
upon written notice to Landlord delivered at any time on or prior to the
expiration of the initial term or extended term, as the case may be. During each
extension term, all provisions of this Lease shall remain in full force and effect.
(c) Notwithstanding the foregoing, Tenant may terminate this Lease at any
time thereafter upon written notice of termination (the "notice of Termination ")
delivered to Landlord. Such Notice of Termination shall set forth the effective
date of the termination.
3. Annual Rent. Tenant shall pay the sum of One and 00/100 Dollar ($1.00)
in annual rent during the initial term of this Lease and during each extended
term thereof.
4. Mg. The Premises may only be used by Tenant for the construction and
maintenance of a free - standing kiosk for the installation and operation of (a) up
to two (2) ATMs, (b) a telephone or other support system for the ATMs, (c) trash
receptacles, and (d) such other equipment and accessories as are or become
normally provided by Tenant in connection with the operation of an ATM facility
of this type, including without limitation, a night depository box (collectively the
"Tenant Improvements "). Tenant shall make no other use of the Premises
without the prior written consent of Landlord.
5.
Promptly after the satisfaction of the condition set forth in Section 25 below,
Tenant shall diligently design and install or construct on the Premises, at
Tenant's sole cost and expense, a free - standing kiosk to house up to two (2)
ATMs, together with such other permitted uses as Tenant may desire. All such
installation and construction shall be in conformity with all applicable building
and zoning codes, and shall conform to the safety requirements set forth in AB
244 and any other applicable governmental law. The ATMs and all of Tenant's
trade fixtures and personal property shall be and at all times remain the
property of Tenant.
6. Erection of SAM. Notwithstanding anything to the contrary contained in
this Lease, Tenant may, at Tenant's sole expense, erect within the Premises
and on the exterior walls, windows and doors of the Premises, signs identifying
and advertising the ATMs and Tenant's company name. Installation of any
signs shall conform to all applicable building, zoning and other regulations of
any applicable governmental authority. All such signs shall at all times remain
the property of Tenant.
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7. Maintenance of ATMs. Once installed, Tenant shall use its best efforts
to operate the ATMs on a twenty -four (24) hour basis. Tenant shall have the
right, however, to suspend operation for periodic maintenance inspections,
balancing adjustments, servicing operations or other maintenance purposes.
Landlord acknowledges that despite Tenant's best efforts, the ATMs may be
rendered inoperative for various periods of time due to breakdowns, operations
failures or other reasons. Tenant shall have the right to service the ATMs at all
times, including times which are outside normal business hours or on days
other than normal business days. Landlord shall provide Tenant with all
necessary vehicular and pedestrian access and all authorizations, keys and
other assistance necessary to permit Tenant to service the ATMs at any time
without prior notice to Landlord. Tenant may engage an independent contractor
to perform Tenant's maintenance obligations hereunder.
Removal of ATMs. Upon the expiration or other termination of this
Lease, Tenant shall remove the free - standing kiosk, the ATMs, Tenant's signs
and Tenant's other trade fixtures and personal property from the Premises, and
restore the Premises to a clean and orderly condition, at Tenant's sole cost and
expense. Such removal shall occur not more than sixty (60) days after the
expiration or other termination of this Lease.
9. Maintenance of Premises. By taking possession of the Premises, Tenant
shall be deemed to have accepted the Premises as being in good and sanitary
order, condition and repair. Tenant shall, at all times during the term of this
Lease and any renewal or extension hereof, maintain the Premises in a clean
and orderly condition at Tenant's sole cost and expense, and shall, upon
termination of this Lease, surrender the Premises to Landlord in a clean, safe
and orderly condition. Landlord shall maintain the existing building and other
improvements located on the Real Property (other than the Premises), including
without limitation the parking lot and landscaping.
10. Alterations. Additions and Improvements. Except for the Tenant
Improvements and the signs described in Section 6 above, Tenant shall not
make any alterations, additions or improvements to the Premises without
obtaining the prior written consent of Landlord, such consent not to be
unreasonably withheld. Should Landlord consent to the making of any such
alterations, additions or improvements by Tenant, such alterations, additions or
improvements shall be made at the sole cost and expense of Tenant by a
contractor or other person selected by Tenant and approved in writing by
Landlord before the work commences. Except as provided otherwise in this
Lease, any and all alterations, additions or improvements shall on termination
of this Lease become the property of Landlord and shall remain on the
Premises.
11. Services and Utilities. Landlord shall allow Tenant, at Tenant's sole
expense, to extend to the Premises all electricity, telecommunication lines and
other utilities required for the use and occupation of the Premises and the
operation of the ATMs.
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12. Security.
(a) Tenant is solely responsible for all security with respect to AB 244
regulations as they pertain to safety for operation of ATM facilities.
13. Taxes. Tenant understands that this Lease may create a possessory
interest and shall pay any real estate tax, levy or assessment on the Premises.
14. Damage or Destruction. Should the Premises or the kiosk be damaged
or destroyed by any cause not due to the negligent or willful act of Landlord,
Tenant shall, at its own cost and expense, promptly repair the same. Should
said damage or destruction substantially impair, in the reasonable judgment of
Tenant, the satisfactory operation of the ATMs, Tenant may terminate this Lease
by providing Landlord written notice of such termination not more than thirty (30)
days following the occurrence of such damage or destruction.
15. Assignment and Subletting. Tenant may not assign this Lease or sublease
all or part of the Premises (including to any affiliated entity of Tenant or
successor of Tenant by merger or otherwise) unless first obtaining the written
consent of Landlord, which consent shall not be unreasonably withheld.
16. Insurance.
(a) General Liability Coverage -- Tenant agrees to procure and maintain at
all times during the term of this Lease, and any extensions thereof, a policy of
Commercial General Liability Insurance, which includes Broad Form Property
damage. Such policy shall provide limits of at least $1,000,000 combined
single limit per occurrence. Tenant shall be named insured and Landlord be
named additional insured in said insurance policy. Insurance provided should
be Best's Guide rated at A:VII and be admitted insurer in the State of California.
Tenant shall notify Landlord in writing at least (30) days prior to any changes or
cancellation of said policy, and shall deliver evidence of said insurance for
Landlord approval prior to commencement of the term of this Lease.
I. Reporting Provisions -- Any failure by the Tenant to comply with the
reporting provisions of this insurance policy shall not affect coverage provided
to the Landlord.
ii. Hold Harmless -- The Tenant shall indemnify and hold harmless the
Landlord and its officers, officials, employees and agents from and against all
claims, damages, losses, and expenses including attorney fees arising out of
the performance of the Lease Agreement, caused in whole or in part by any
negligent act or omission of the Tenant, anyone directly or indirectly employed
by the Tenant for whose acts any of them may be liable.
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iii. Primary Insurance -- This insurance provided by the Tenant shall provide
primary insurance to the Landlord to the exclusion of any other insurance or
self- insurance program the Landlord may carry with respects to claims and
injuries arising out of activities of the Tenant or otherwise insured hereunder.
iv. Severability of Interest -- The insurance afforded by this policy applies
separately to each insured who is seeking coverage or against whom a claim is
made or a suit is brought, except with respects to the company's limit of liability.
V. Waiver of Subrogation -- The Tenant's insurer will waive the right of
subrogation against the Landlord.
(a) Auto Liability Coverage -- This insurance is required for the use of
Tenant's business autos on the premises at limits of $1,000,000 combined
single limit per occurrence for property damage and personal injury.
(b) Worker's Compensation Coverage -- The Tenant will provide proof of
workers compensation insurance with statutory limits per California State Law
and with Employers' Liability of $1,000,000.
17. Default. The occurrence of any one ore more of the following event shall
constitute an event of default under this Lease.
(a) The failure by Tenant or Landlord to observe or perform any of the
covenants, conditions or other provisions of this Lease required to be observed
or performed by Tenant or Landlord, as the case may be, where such failure
shall continue for a period of thirty (30) days after written notice thereof by the
other party hereto.
(b) The making by Tenant or Landlord of any general assignment or general
arrangement for the benefit of creditors; or the filing by or against Tenant or
Landlord of a petition to have Tenant or Landlord adjudged a bankrupt, or a
petition for reorganization or arrangement under any law relating to bankruptcy,
unless, in the case of a petition filed against Tenant or Landlord, the same is
dismissed within sixty (60) days; or the appointment of a trustee or a receiver to
take possession of, or the attachment, execution or other seizure of substantially
all of Tenant's or Landlord's assets located at Premises, as the case may be, or
of Tenant's or Landlord's interest in this Lease, where such possessions,
attachment, execution or other seizure is not restored to Tenant or Landlord, as
the case may be, within thirty (30) days.
18. Remedies on Default. In the event of any default by Tenant or Landlord
then, in addition to any other remedies available to the other party hereto at law
or in equity, such other party may:
(a) Continue this Lease in effect and thereby be entitled to enforce all rights
and remedies under this Lease; or
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(b) Terminate this Lease by providing written notice to the defaulting party of
such intention and recover from such defaulting party any amount necessary to
compensate such other party for all detriment negligently or willfully caused by
such defaulting party's failure to perform its obligations under this Lease.
19. Notices. Any notice required or permitted by this Lease to be provided to
either party hereto by the other party hereto shall be in writing and shall be
deemed duly provided when personally delivered to the party to which it is
directed or, in lieu of such personal delivery, three (3) days after deposit in the
United States mail, sent certified mail with first -class postage prepaid, and
addressed as follows:
City of Newport Beach
3330 Newport Boulevard
Newport Beach, CA 92658
Attn: City Manager
Wells Fargo Bank
Corporate Properties Group
111 Sutter Street, 22nd Fl.
San Francisco, CA 94163
Attn: Lease Administration
with copy to:
Wells Fargo Bank
Corporate Properties Group
333 So. Grand Avenue #840
Los Angeles, CA 900771
Attn: Manager
Either party hereto may by written notice to the other party hereto specify a
different address for notice purposes or add one additional address for notice
purposes.
20. Attorneys' Fees. In the event of any litigation between Landlord and Tenant
in connection with this Lease, the prevailing party shall be entitled to recover
from the other party hereto, in addition to such other relief as may be. granted,
such reasonable attorneys' fees incurred by the prevailing party in instituting or
defending such litigation, together with such reasonable costs and expenses of
litigation as may be allowed by the court.
21. Time of Essence. Time is expressly declared to be the essence of this
Lease.
22. Waivers No waiver of either party hereto of any provision of this Lease shall
be deemed a waiver of any other provision hereof or of any subsequent breach
by such party of the same or any other provision.
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23. Entire Agreement. This Lease constitutes the entire agreement between
the parties hereto with respect to the leasing of the Land, and no prior
agreement or understanding pertaining to any such matter shall be effective for
any purpose. In the event of a conflict between the terms and provisions of this
Lease and the terms and provisions of any other agreement, instrument or
document, the terms and provisions of this Lease shall prevail. No provision of
this Lease may be amended except by an agreement in writing executed by the
parties hereto.
24. Indemnity. Landlord hereby indemnifies and holds Tenant harmless from and
against all claims, actions, costs (including, but not limited to, court costs and
attorneys' fees), judgments, liabilities or damages arising out of or resulting from
personal injury or property damage of any kind which occurs as a result of
Landlord's ownership or operation of the parking lot. Tenant hereby
indemnifies and holds Landlord harmless from and against all claims, actions,
costs (including, but not limited to, court costs and attorneys' fees), judgments,
liabilities or damage arising out of or resulting from personal injury or property
damage of any kind which occurs as a result of the operation, maintenance or
presence of the ATM, kiosk or other Tenant improvements.
25. Condition to Lease. This Lease and the parties' obligations hereunder
are conditioned upon (i) Tenant obtaining and necessary approval of the
Comptroller of Currency to the installation and operation of the ATMs on the
Premises no later than ninety (90) days after the date of this Lease; and (ii)
approval of Tenant's senior management.
IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the day
and year first set forth above.
TENANT
WELLS FARGO BANK,
NATIONAL ASSOCIATION,
a national banking association
By: crP- �, By:
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LANDLORD
CITY OF NEWPORT BEACH,
a California Municipal
corporation
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