HomeMy WebLinkAboutPalomar 910 Associates Ltd; 1989-05-02;PALOMAR 910 ASSOCIATES, LTD.
1859 Caminito Brisa
P. 0. Box 1064
La Jolla, CA 92038
Phone: (619) 454-8841 Fax: (619) 454-8842
December 8,200O
City of Carlsbad Economic Development Department
1635 Faraday Ave.
Carlsbad, CA 92008
Re: Proposed Extension to Lease Extension Agreement dated 2/17/98;
Suite C, 635 1 Yarrow Drive, Carlsbad, CA 92009
Attn: Mrs. Cynthia Haas, Director
Dear Mrs. Haas:
The purpose of this letter is for me to propose to you a 2 year extension to our current Lease
Extension Agreement dated February 17, 1998, as was discussed with you during our telephone
conversation earlier today. This proposal includes the 6 month cancellation provision which has
been part of our agreement since 199 1.
Our current lease is dated May 2, 1989. It superseded your original lease dated June 25, 1980.
This 1989 lease has been amended by letter agreements dated September 26, 1991, September 28,
1995, and most recently February 17, 1998.
This most recent agreement is scheduled to terminate September 30,200l. It currently provides
for a monthly industrial gross rental rate of $3,629.00 per month. I hold a security deposit of
$3,050.00. Our agreement also provides that Lessee and Lessor each have the right to terminate
the lease by giving one hundred eighty (180) days prior written notice to the other party.
Your leased space is approximately 120’ x 48’ (5,760 sq. R. in area) and has a 22’ clear span
ceiling. You have a 10’ x 20’ double truck door with dock high loading; you also have a concrete
ramp which simplifies loading from or to small trucks or vans.
We have had what I consider to be a mutually beneficial business relationship over the past 20
years, and I am pleased to have the opportunity to extend that relationship even further. I
therefore propose the following modification to our lease, which I believe is at a rate well below
the current Carlsbad market for similar properties:
a. The termination date shall be extended 2 years until September 30,2003.
b. The monthly rental rate for this extension period shall be as follows:
October 1,200l thru September 30,2002 $3,774.00
October 1,2002 thru September 30,2003 $3,925.00
CTYCRJLlZSAM
pg2 Proposed lease mod, City of Carlsbad
December 8,200O
c. All other terms and conditions of the lease shall remain unchanged.
If this proposed extension is acceptable to you, you may implement it by returning to me a copy
properly signed by the City of Carlsbad.
This offer is good until March 3 1,200 1, at which time it may be changed or revoked without
further notice. Please advise me if this date does not provide you with sufficient time to make
your decision.
Sincerely,
PALOMAR 910 ASSOCIATES, LTD., Lessor
bYa@-
Eli Perlman
General Partner
AGREED
Date February 20, 2001
by CLAUDE A. LEiks., Mayor
cc: Mrs. Ruth Fletcher, Purchasing Agent APPROVED AS TO FORIIII:
RONALD(WUA.C~A#omry
CTYCRLlZ.SAh4 baputy City Attorney