1 THIRD AMENDMENT TO LEASE AGREEMENT
PREMISES: 2450 Pan Am Way, Alameda, CA – Building 35,
consisting of approximately 2,764 square feet
LANDLORD: C ITY OF ALAMEDA, a charter city and municipal corporation
TENANT: SMALL SIZE BIG MINDS, INC. a California
Corporation
LE ASE DATE: September 10, 2018 and executed on or about July 3, 2018 (Tenant), September 9, 2018 (Landlord)
This Third Amendment to the Lease Agreement ("Third Amendment"), is dated as of ____________, 2023 for reference purposes only, and is entered into by and between the CITY OF ALAMEDA, a charter city and municipal corporation ("Landlord"), and SMALL SIZE BIG MINDS, INC., a California corporation ("Tenant").
NOW, THEREFORE, in consideration of the foregoing, which are incorporated herein by reference, and of their mutual covenants contained herein, the parties hereby agree as follows:
1. Background.
A. Landlord and Tenant entered into that certain Lease Agreement dated September 10, 2018 and amended by a First Amendment to Lease Agreement dated July 16, 2020 and that Second Amendment to Lease Agreement dated October 21, 2021 (as amended, the “Lease”), for a certain premise described therein and referred to as Building 35, at 2450 Pan Am Way, Alameda, California, consisting of approximately 2,764 square feet of rentable space in Building 35 (the "Premises") and approximately 16,552 square feet of space in the underlying parcel.
B. The Expiration Date of the Lease is August 31, 2023. Landlord and Tenant have agreed to extend the Lease Term for a period of twelve (12) months on the same terms and conditions as set forth in the Lease, except as otherwise set forth herein.
C. Capitalized terms used in this Third Amendment without definition shall have the same meaning given to such terms in the Lease. This Third Amendment shall be effective upon the last date set forth below the parties’ signatures.
2. Term. The term of the Lease is hereby extended for an additional twelve (12) months (“Extension Term”) commencing on September 1, 2023 (“Extension Commencement Date”) and terminating on August 31, 2024.
DocuSign Envelope ID: 290BE6E5-9CD5-4AA3-A6D5-808F4A3E8D22 2 3. Base Rent. Effective as the Extension Commencement Date, the monthly installment of Base Rent for the Premise through the end of the Third Extension Term Shall be Four Thousand Eight Hundred Thirty-Seven and 00/100ths Dollars ($4,837.00) per month.
4. Security Deposit. Landlord and Tenant acknowledge an existing Security Deposit of Four Thousand Five Hundred Twenty-Five and 00/100ths Dollars 4,525.00 is currently being held by Landlord pursuant to the Lease. Concurrently with the execution of this Amendment, Tenant shall deliver to Landlord the amount of Three Hundred Twelve and 00/100ths Dollars ($312.00) to bring the total amount of the Security Deposit to Four Thousand Eight Hundred Thirty-Seven and 00/100ths Dollars ($4,837.00).
5. E
xtension Option: Tenant shall be granted one (1) option to extend the lease for an additional twelve (12) months. Tenant shall notify Landlord of its intent to exercise its option no earlier than nine (9) months or later than six (6) months prior to the lease expiration date.
Landlord and Tenant further agree that Base Rent for the optioned twelve (12) month period shall be Five Thousand Five and 00/100ths Dollars ($5,005.00) per month.
6. D
elivery of Possession. Tenant hereby agrees that the Premise shall continue to be leased in its "AS-IS" condition, and Landlord shall have no obligation to make any repairs or modifications to the Premises. Tenant acknowledges and agrees that Landlord has made no representations or warranties regarding the Premise, including, without limitation, its suitability for Tenants proposed use.
7. S
ignage. Tenant shall be permitted to maintain its existing identify signage on the exterior of the Premises in accordance with the terms of the Lease.
8. C ity’s Authority . Tenant further acknowledges Landlord is entering into this Lease in its proprietary capacity and not in its regulatory or governmental capacity. Nothing in the Lease shall be construed as restraining, impairing or restricting the City of Alameda in its regulatory capacity, or granting any rights upon the Tenant with respect to the use, occupancy or operation of the Premise in a manner inconsistent with any Laws or applicable requirements.
9. B
rokers . Landlord is represented by Cushman and Wakefield (Andrew Schmieder) (“Landlord’s Broker”), in connection with the transactions contemplated in this Amendment. Landlord and Tenant hereby acknowledge that leasing commissions shall be paid per separate agreements with Landlord’s Broker and Tenant’s Broker. Tenant and Landlord each represent and warrant to each other that no other broker has represented either of them or is otherwise entitled to a commission or fee in connection with the transactions contemplated in this Amendment. Each party hereby indemnifies, defends and holds the other party harmless from all loss, cost and expense (including reasonable attorneys' fees) arising out of a breach of its representation set forth in this Section 8. The provisions of this Section 8 shall survive the termination of the Lease.
10. R
atification; Miscellaneous . Except as modified by this Third Amendment, in all other respects the Lease is hereby ratified and affirmed and remains in full force and effect. This Third Amendment may be executed in one or more counterparts.
DocuSign Envelope ID: 290BE6E5-9CD5-4AA3-A6D5-808F4A3E8D22 3 11. Electronic Signature. This Third Amendment may be signed by electronic signature and any such electronic signature shall have the same force and effect as an original signature. Without limitation, “electronic signature” shall include faxed versions of an original signature or electronically scanned and transmitted versions (e.g., via pdf) of an original signature.
IN
WITNESS WHEREOF, the undersigned have executed this Third Amendment as of the day and year last set forth below.
LANDLORD:
CITY OF ALAMEDA,
a charter city and municipal corporation
By: _____________________________
Jennifer Ott
City Manager
Date: _____________________________
TENANT:
SMALL SIZE BIG MIND, INC.,
a California Corporation
By: _____________________________
Name: _____________________________
Title: _____________________________
Date: _____________________________
Approved as to Form
By: _____________________________
Len Aslanian
Assistant City Attorney
Recommended for Approval
By: _____________________________
Lisa Maxwell
Community Development Director
By: _____________________________
Name: _____________________________
Title: _____________________________
Date: _____________________________
Malyka Chop
Owner, CFO
5/24/2023
Laurence Cauchie-Chop
Owner CEO
5/24/2023
DocuSign Envelope ID: 290BE6E5-9CD5-4AA3-A6D5-808F4A3E8D22