2005-368 (2) - Laserfiche WebLink

Home Browse Search

BK : 1961 PG : 1027 Section 2 . 02 . Approval of Parking Property Lease Agreement. The County acknowledges that the Parking Property Lease Agreement (a copy of which is attached hereto as Exhibit B) to be entered into by Dodgers and the City is a sublease of the Facility Lease Agreement. The County further acknowledges that it has reviewed and approved the Parking Property Lease Agreement and hereby agrees that the Parking Property Lease Agreement , in the form attached hereto as Exhibit B . is consistent with and does not violate any of the terms of the Facility Lease Agreement, including, without limitation, any of the limitations on use of the Parking Property set forth in the First Amendment. Without limiting the effect of the foregoing, the County specifically acknowledges and agrees that the City shall have the exclusive right to use, improve, manage, and operate the Parking Property in accordance with the terms and conditions of the Parking Property Lease Agreement, provided that the Parking Property shall be utilized by the City only for the purpose of constructing and operating thereon (i) a municipally- owned, public golf course or (ii) green space, or (iii) a park-like setting (the "Permitted Uses" ) . Section 2 . 03 . Assumption of Parking Property Lease Agreement. In the event that the Facility Lease Agreement expires or is terminated before the Parking Property Lease Agreement expires or is terminated, the County shall assume all of the rights and obligations of Dodgers under the Parking Property Lease Agreement and the City shall be entitled to continue to occupy and use the Parking Property in accordance with the terms and conditions of the Parking Property Lease Agreement until it expires or is terminated. In furtherance of the foregoing, the County hereby waives the limitation set forth in Sections 3 . 040 ) and 3 .04(k) of the First Amendment. ARTICLE III Amendments to Facility Lease Agreement Section 3 . 01 . The Land. Pursuant to Section 3 . 01 of the First Amendment, the Facility Lease Agreement was amended so that, effective as of March 23 , 2004 , the property referred to in the Facility Lease Agreement and defined therein as the "Land" was expanded to include and encompass the Parking Property, All rights and obligations that Dodgers had with regard to the Land pursuant to the Facility Lease Agreement, including, without limitation, the option to purchase the Land pursuant to Section 2 .05 of the Facility Lease Agreement, were thus applied to the Parking Property. Because of the Extended Term of the Parking Property Lease Agreement and the rights granted to the City therein, the County and Dodgers hereby agree that notwithstanding the provisions of Section 3 . 01 of the First Amendment, all references to the "Land" or to the "Facility" in the Facility Lease Agreement shall be subject to the provisions of this Article III . ( Fr2908062 ) Page 3 of 9