DocuSign Envelope ID: 353BC2AE-119B-4954-AB4D-A6864B43C961 LEASE AMENDMENT NO. 1
PREMISES 2315 Central Avenue, Suite 122, Alameda, CA
consisting of approximately 700 rentable square
LANDLORD: CITY OF ALAMEDA, a charter city and
municipal corporation
TENANT: Park Street Wine Cellars, Inc.
LEASE DATE: October 21, 2019 for reference purposes only This Amendment No. 1 to the Lease ("First Amendment"), is dated as of ,2022 for reference purposes only, and is entered into by and between the CITY OF ALAMEDA. a charter citv and municipal corporation ("Landlord" or "City") and PARK STREET WINE CELLARS, INC., a California corporation ("Tenant").
NOW, THEREFORE, in consideration of the foregoing, which is 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 October 21, 2019_for reference purposes only (the "Lease"), for certain premises described therein and referred to as 2315 Central Avenue, Suite 122, Alameda, CA consisting of approximately 700 square feet ("Premises").
B. Capitalized terms used in this First Amendment without definition shall have the same meaning given to such terms in the Lease. This First Amendment shall be effective upon the last date set forth below the parties' signatures.
2. Rent Deferral. Section 4.1 of the Lease regarding Tenant's payment of Base Rent shall be modified as described below:
(a) Tenant's obligation to pay Base Rent, as described in Section 4.1 of the Lease, shall be deferred for a period of six (6) months ("Deferred Base Rent") commencing retroactively on August 2021 and ending on January 2022. The period during which Tenant shall repay Deferred Base Rent shall commence on July 1, 2022 and end on June 30, , 2025 ("Repayment Period"). During each twelve (12) month period of the Repayment Period ("Year 1" as to the first twelve (12)months, "Year 2" as to the second twelve (12) months, and "Year 3" as to the third twelve (12) months), Tenant shall repay no less than three (3) months of Deferred Base Rent ("Minimum Repayment Obligation") either in a lump sum at the time Tenant makes its first Base Rent payment during Year 1, Year 2, or Year 3, as applicable, or in twelve (12) equal monthly payments on the DocuSign Envelope ID: 353BC2AE-119B-4954-AB4D-A6864B43C961 date Tenant pays Landlord each Base Rent sum during Year 1, Year 2, or Year 3, as applicable. A schedule reflecting Tenant's Minimum Repayment Obligation is set out below.
(b) During the Repayment Period, if Tenant pays all Deferred Base Rent: (i) prior to the last day of Year 1, Landlord will credit Tenant three (3) months of Base Rent to be applied to each of the next following months of Base Rent until the credit is exhausted; (ii) prior to the last day of Year 2, Landlord will credit Tenant two (2) months of Base Rent to be applied to each of the next following months of Base Rent until the credit exhausted; and (iii) prior to the last day of Year 3, Landlord will credit tenant one (1) month of Base Rent to be applied to each of the next following months of Base Rent until the credit exhausted (c) If during Year 1, Year 2, or Year 3 of the Repayment Period Tenant fails to pay the applicable Base Rent sum, plus the Minimum Repayment Obligation for any of those years, then following a written notice from Landlord to Tenant and a three (3) day period for Tenant to cure such Base Rent default and/or Minimum Repayment Obligation default, Tenant shall be in material default of the Lease entitling Landlord to exercise all rights and remedies available to it under the Lease and at law and in equity.
(d) If at any time during the period commencing on the date of this First Amendment (as set out above) and the last day of the Repayment Period, Tenant is cited by a law enforcement authority (c.g. the County of Alameda, the City's Police Department or code enforcement unit) for any violation of a health and safety regulation, code, or other directive related to COVID-19, the City may, upon the written approval of both the City Manager and City Attorney, in their sole and complete discretion, impose some or all of the following remedies:
1. Tenant shall be obligated to repay to Landlord, within ten (10) days of the date of written notice from City, all unpaid Deferred Base Rent.
2. Tenant shall return to the Landlord, within ten (10) days of the date of written notice from City, all previously earned "Rent Credit" (as described in the chart below).
3. Tenant shall not be entitled to any further benefits established by and described in this First Amendment.
Tenant shall timely and fully comply with the remedies imposed by the City under this subsection. If Tenant fails to timely and fully comply with the remedies set forth in the subsection, then Tenant shall be in material default of the 2 DocuSign Envelope ID: 353BC2AE-119B-4954-AB4D-A6864B43C961 Lease entitling Landlord to exercise all rights and remedies available to it under the Lease and at law and in equity, including without limitation, termination of the Lease, as amended hereby, and taking all necessary legal actions to recover unpaid rent, including previously earned-but-forfeited Rent Credits or Deferred Base Rent.
DEFERRED RENT REPAYMENT SCHEDULE
Months Six (6) (August 2021-January 2022)
Deferred
Total Base $ 17,088
Rent
Deferred
Maximum $ 8,543.85
Possible
Rent Credit
Repayment Payment Due
Period
Year 1 Base Rent + $5,695.90_when first Base Rent payment of Year 1 is made or Base Rent + 12 equal, monthly payments of $474.66 at the time each Base Rent payment is made during Year 1
Year 2 Base Rent + $5,696.04 when first Base Rent payment of Year 2 is made or Base Rent + 12 equal, monthly payments of $474.67 at the time each Base Rent payment is made during Year 2
Year 3 Base Rent + $5,696.04when first Base Rent payment of Year 3 is made or Base Rent + 12 equal, monthly payments of $474.67 at the time each Base Rent payment is made during Year 3
Delivery of Possession. Tenant agrees that the Premises 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 Premises, including, without limitation, its suitability for Tenant's proposed use.
4. CASp. Inspection by Certified Access Specialist. Landlord discloses that the Premises have not undergone inspection by a Certified Access Specialist as referenced in California Civil Code Section 1938 subsection (e), which provides: "A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law.
Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the 3 DocuSign Envelope ID: 353BC2AE-119B-4954-AB4D-A6864B43C961 time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises." Pursuant to the foregoing Section 1938(e), Tenant acknowledges and agrees that if Tenant wishes to have the Premises inspected by a CASp: (i) Tenant must notify Landlord on or before the date when Tenant executes this Lease First Amendment pursuant to the election below; (ii) the inspection will be at Tenant's sole cost and expense; (iii) the inspection must be scheduled through Landlord and in coordination with the Building's property manager; (iv) any repairs or modifications necessary to correct any violation of construction-related accessibility standards that is noted in the CASp report shall be Tenant's responsibility; and (v) Tenant must provide a copy of the CASp report to Landlord on completion.
5. governmental 222222
impairing or restricting
any Laws or applicable requirements.
6. Ratification: Miscellaneous. Except as modified by this First Amendment, in all other respects the Lease is hereby ratified and affirmed and remains in full force and effect.
This First Amendment mav be executed in one or more counterparts.
DocuSign Envelope ID: 353BC2AE-119B-4954-AB4D-A6864B43C961 IN WITNESS WHEREOF, the undersigned have executed this First Amendment as of the day and year last set forth below.
LANDLORD: TENANT:
CITY OF ALAMEDA, PARK STREET WINE CELLARS.
a charter city and municipal corporation INC. a California corporation - DocuSigned by:
By: Nancy Bronstein By:
Name: CHRISTOPMER MASSIE
Title: PRES / CEO
Interim City Manager
Date: FEB 16,2022
Date: 10/11/2022
By: Hua Masse
Approved as to Form Name: Theresa Massie
- DocuSigned by: Title:
CFO / Treasurer
By: Le Aslarias
Len Astatian Date: Feb 1le, 2022
Assistant City Attorney
Recommended for Approval
-DocuSigned by:
By: lisa Maxwell
a Maxwell
Community Development Director