Agmt 2009 Batarse Family Trust - Laserfiche WebLink

Home

FOURTH AMENDMENT TO THE GROUND LEASE FOR THE AUTOMALL READER BOARD SIGN This Fourth Amendment ("Fourth Amendment") to that certain Ground Lease ("Original Ground Lease") between the REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO, a public agency ("Landlord"), and the BATARSE FAMILY TRUST, U.T.A. DATED MAY ], 1997, ANTHONY A. BATARSE, JR., TRUSTEE ("Tenant"), is entered into effective as of ~ 2009 ("Effective Date"). Landlord and Tenant are hereinafter collectively referred t as the "Parties." WHEREAS, the Parties entered into the Original Ground Lease on May 7, 1997; and WHEREAS, the Original Ground Lease was amended by a First Amendment ("First Amendment") as of June 4, 1997; and WHEREAS, a Memorandum of Lease providing constructive notice of the Original Ground Lease and the First Amendment was recorded in the Official Records of Alameda County ("Official Records"), an June 5, 1997, as Instrument No. 97-138636; and WHEREAS, the Original Ground Lease was amended by a Second Amendment ("Second Amendment") as of December 15, 1997; and WHEREAS, the Original Ground Lease was amended by a Third Amendment ("Third Amendment") as of June 10, 2002; and WHEREAS, a Memorandum of Lease to provide constructive notice of Tenant's rights under the Original Ground Lease and the First, Second and Third Amendments thereto was executed as of June 27, 2002; and WHEREAS, the Original Ground Lease, as amended by the First, Second and Third Amendments thereto is hereinafter referred to as the "Ground Lease"; and WHEREAS, the Parties desire to further amend the Ground Lease in order to permit additional encumbrance of the leasehold estate. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 1. Section 8.1.1. of the Lease is hereby amended in its entirety to read as follows: 8.1.1. Tenant shall have the right, at any time and from time to time during the Lease Term, to encumber the leasehold estate created by this Lease by one Leasehold Deed of Trust securing a loan in an amount not greater than Two Hundred Fifty Thousand Dollars ($250,000.00), the proceeds of which must be applied to financing the reader board sign described herein (the "First Permitted Fourth Amendment to Automall Reader Board Sign Ground Lease