Agmt 1997 American Golf Corp - Laserfiche WebLink

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specifically described in Exhibit "C" (collectively, the "Acquired Personal Property"). Lessee shall on the Commencement Date (i) execute and deliver to Lessee a bill of sale and such other instruments as are reasonably required by Lessee to convey title to the Acquired Personal Property to Lessee, and (ii) deliver possession of the Acquired Personal Property to Lessee at the Leased Premises. Concurrently with such deliveries, Lessee will pay to Lessor the sum of One Hundred Fifty-Four Thousand Five Hundred Dollars ($154,500) as consideration for the transfer and sale of the Acquired Personal Property. If Lessor does not deliver title or possession of any item of the Acquired Personal Property on Closing, the consideration payable by Lessee under this Section 2.2 shall be reduced by the amount of the. consideration attributable to such item as set forth in Exhibit "C". 2.3 Liquor License. Lessor shall, without the requirement of any payment, transfer to Lessee all of Lessor's right, title and interest in and to any and all liquor licenses currently in effect at the Leased Premises if any, it being understood and agreed that Lessor shall uses its best efforts to obtain all governmental approvals necessary and required to transfer such liquor license to Lessee. Lessor and Lessees shall follow all legal procedures and processes to accomplish the liquor license transfer, including, if necessary, the establishment of an escrow to accomplish the same. Prior to the date upon which such transfer occurs, Lessor shall, if legally permissible, permit Lessee to serve liquor at the Leased Premises using Lessor's liquor license. 3. USE OF LEASED PREMISES. 3.1 Use. Lessee shall renovate the Leased Premises in accordance with Article 13 and shall otherwise operate and use the Leased Premises for the operation of a first class municipal daily fee golf course (as defined by reference to the Comparable Golf Courses set forth in Section 14.1 hereof) and other activities customarily associated with or incidental to the operation of a daily fee golf course, including without limitation, sale or rental of golf-related merchandise at a golf professional's shop, furnishing of lessons by a golf professional, operation of a driving range, sales of food and beverages, including liquor sales, and banquet activities. Lessee shall not use the Leased Premises for any unlawful purpose and shall comply with all valid laws, rules and regulations applicable to the Leased Premises or the businesses conducted on the Leased Premises. 3.2 Lessee's, Right to Control Business Operations. In accordance with the terms hereof and subject only to limitations set forth in Section 3.3, Lessee shall have the eYClusive right and authority to operate and manage the Leased Premises as LEASE AGREEMENT BETWEEN CITY OF SAN LEANDRO AND AMERICAN GOLF PAGE 3 11/13/97 FINAL I:\ti'PD\CSL\l3ti\OIWCREE\GOLFCOURWGREEU,EASE.CLN