HomeMy WebLinkAbout1973-08-08; City Council; Resolution 31921
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RESOLUTION NO. 3192
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO EXECUTE A SECOND AMENDMENT TO THE AGREEMENT WITH
THE FAIR MARKET RENTAL FOR PLAZA DEL NORTE ROAD AND THE TERM AND FREQUENCY OF PAYMENTS THEREFOR.
THE TRI-CITY AUTO DEALERS ASSOCIATION MODIFYING
WHEREAS, pursuant to a mutual understanding and agreement,
the parties to the November 21, 1972, agreement for the
lease-leaseback of certain properties and the construction
thereof of Plaza Del Norte Road, undertook to review said
agreement in order to determine whether or not the rental payment
provided for in said agreement would, in fact, reflect the fair
market rental value of the leaseback premises; and
WHEREAS, said review has resulted in a mutual agreement
that an upward revision in the rental payment is necessary
resulting primarily from an increase in scope of the improvements
constructed on the leaseback premises; and
WHEREAS, the parties are also in agreeme2lt that the term
of said agreement and the frequency of payments thereunder
also needs revision;
NOW, THEREFORE, BE IT RESOLVED by the Clty Council of the
City of Carlsbad as follows:
1. That the above recitations are true and correct.
2. That the Mayor is hereby authorized to execute
on behalf of the City a second amendment to the November 21,
1972, agreement between the City of Carlsbad and the Tri-City
Auto Dealers Association. Said amendment to be in a form as
contained in Exhibit ''A" attached hereto and incorporated by
reference herein.
an adjourned PASSED, APPROVED AND ADOPTED at/ regular meeting of
the City Council on the 8th day of August, 1973, by the
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following vote, to wit:
AYES: Councilmen Dunne, Lewis,
NOES: None
ABSENT: Councilman McComas
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hase and Frazee
ATTEST: .
(seal )
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SECOND AMENDMENT TO AGREEMENT
FOR LEASE, LEASEBACK, OPTION TO BUY
This amendment to an agreement dated November 21, -e.-..
1972, is made and entered into this 8th day of August, 1973,
by and between the parties to said agreement.
Recitals:
I. Pursuant to a mutual understanding, City and
Association undertook a review of the fair market rental
value of the leaseback premises. Said review indicates a
revision of the yearly rental is in order which City and
Association desire. to effect.
2. Said review also indicated that adjustments of
the term and frequency of payment were desired by City and
acceptable to Association.
Amendment to Agreement:
1. Section 111, Term and Renewal, page 3,
subsection "A" is amended to read as follows:
"The term of this leaseback shall commence
on July 1, 1973, and shall run from that date
to June 30, 1983."
2. Section IV, Rent, page 4, subsection "B"
is amended to read as follows:
"Rent shall be payable monthly in advance.
The first payment of $ 4,554.80 is due and
payable on July 1, 1973. The subsequent monthly
payments of $ 4,554-80 per month shall be
due and payable on the first of the month.
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Consideration for each month's rent is the use
for that month by the City and the public of
the 1 easeback premises . I'
THE CITY OF CARLSBAD
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