Laserfiche WebLink
each of the Ground Leases, which definition shall specify the Post -Commencement Ground <br />Lease Requirements applicable to such Ground Lease. <br />3. Existing Restaurant Building and Lease. The following Developer's Ground <br />Lease Commencement Condition Precedent shall be satisfied by City after the Effective Date of <br />the Developer Hotel Ground Lease in lieu of being satisfied before Commencement of the <br />Developer Hotel Ground Lease: DDA § 1.4.3.2 (b) [Property Vacantl. City shall be permitted to <br />maintain the Existing Restaurant Lease (as defined in Section 1.4.3 of the DDA) in full force and <br />effect prior to and after the Effective Date of the Developer Hotel Ground Lease, and shall <br />terminate the Existing Restaurant Lease at such time as is required by Section 1.4.3 of the DDA. <br />a. The third sentence in the last paragraph of Section 1.4.3 of the DDA is <br />modified to read as follows: <br />"Upon Developer obtaining City approval of a demolition permit for the existing El <br />Torito restaurant building, Developer shall give City at least sixty (60) days' notice of <br />Developer's intended date for such demolition, and City shall terminate the Existing <br />Restaurant Lease and cause the relocation of the tenant thereof within such sixty (60) day <br />period." <br />b. The following shall be added after the first sentence in Section 1.2 of the <br />Developer Hotel Ground Lease: <br />"The Permitted Exceptions shall include, without limitation, the "Existing Restaurant <br />Lease" (as defined in Section 1.4.3 of the DDA). The Property leased to Tenant <br />hereunder shall not include the real property subject to the Existing Restaurant Lease <br />until such time as the term of the Existing Restaurant Lease has ended in accordance with <br />Section 1.4.3 of the DDA." <br />4. Developer Improvements on the Single Family Element Prior to <br />Performance of Post -Closing PSA Requirements. Developer shall not commence the <br />construction of any of the Site Preparation, Horizontal Improvements or Vertical Improvements <br />on the Single Family Element until all of the Post -Closing PSA Requirements have been <br />completed. Until the completion of construction of the Vertical Improvements on the Single <br />Family Element, Developer shall secure the Single Family Element in compliance with all <br />applicable City and other public agency requirements, and take necessary measures to ensure that <br />the Single Family Element is clean, clear and screened, including the placement of appropriate <br />fencing and informational project signage. Developer shall ensure that the Single Family <br />Element is secure from trespassers and meets the foregoing property maintenance standards on <br />an ongoing basis, including the removal of nuisance vegetation and providing security personnel <br />as may be required. City shall not be obligated to issue any building permits for the Site <br />Preparation, Horizontal Improvements and Vertical Improvements on the Single Family Element <br />until all of the Post -Closing PSA Requirements have been completed. <br />5. City Use of Golf Course Prior to Commencement of Single Family Element <br />Site Preparation. Upon the Closing for City's conveyance of the Single Family Element to <br />