Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A
FOURTH AMENDMENT TO LEASE
PREMISES 2701 Monarch Street, Alameda, CA consisting of approximately 63,972 rentable square feet
LANDLORD: CITY OF ALAMEDA, a charter city and municipal corporation
TENANT: AUCTIONS BY THE BAY, INC.
This Fourth Amendment to the Lease ("Fourth Amendment"), is dated as of_ _ 2025 for reference purposes only, and is entered into by and between the CITY OF ALAMEDA, a charter city and municipal corporation ("Landlord" or "City"), and AUCTIONS BY THE BAY, 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:
Background
a. Landlord and Tenant entered into that certain Lease Agreement dated May 1, 2012, for reference purposes only (the "Lease"), for certain premises described therein and referred to as 2701 Monarch Street, Alameda, CA consisting of approximately 63,972 square feet ("Premises").
b. Capitalized terms used in this Amendment without definition shall have the same meaning given to such terms in the Lease and Amendments thereto. The Fourth Amendment shall be effective upon the last date set forth below the parties' signatures.
C. On January 8, 2013, Landlord and Tenant entered into that certain First Amendment to the Lease to extend the term of the lease through December 31, 2022, and provide an option to renew in accordance with the terms and conditions of the First Amendment. d. On March 1, 2022, Landlord and Tenant entered into that certain Second Amendment to the Lease, as part of the Alameda City Council approved Covid-19 rent relief program for commercial tenants of City-owned property located on Spirit's Alley and non-profit organizations (the "Program"), retroactively deferring base rent for a period of nine (9) months ("Deferred Base Rent"), and obliging Tenant to repay deferred rent over a three (3) year period based upon the Deferred Base Rent Repayment Schedule in accordance with the terms and conditions of the Second Amendment. Tenant has repaid six (6) of the nine (9) months of deferred base rent. e. On November 2, 2022, Landlord and Tenant entered into that certain Third Amendment to the Lease to extend the term of the lease through December 31, 2032, in accordance with the terms and conditions of the Third Amendment.
Rent Deferral. Section 2 of the Second Amendment regarding Tenant's repayment of Deferred Base Rent shall be modified to extend the Repayment Period until January 1, 2026. Beginning March 1, 2025, Tenant shall repay no less than $6,884.25 of Deferred Based Rent, ("Minimum Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A Repayment Obligation") in addition to their monthly Base Rent rate. On January 1, 2026, Tenant shall remit the final Deferred Base Rent Repayment of $8,897.23. A schedule reflecting Tenant's Minimum Repayment Obligation is set out below.
DEFERRED RENT REPAYMENT SCHEDULE
Remaining Three (3) (October 2020 - December 2020)
Months
Deferred
Total Remaining $77,739.73
Base Rent
Deferred
Repayment Payment Due
Period
Month 1 Base Rent + $6,884.25 when March 2025 Base Rent payment is due.
Month 2 Base Rent + $6,884.25 when April 2025 Base Rent payment is due.
Month 3 Base Rent + $6,884.25 when May 2025 Base Rent payment is due.
Month 4 Base Rent + $6,884.25 when June 2025 Base Rent payment is due.
Month 5 Base Rent + $6,884.25 when July 2025 Base Rent payment is due.
Month 6 Base Rent + $6,884.25 when August 2025 Base Rent payment is due.
Month 7 Base Rent + $6,884.25 when September 2025 Base Rent payment is due.
Month 8 Base Rent + $6,884.25 when October 2025 Base Rent payment is due.
Month 9 Base Rent + $6,884.25 when November 2025 Base Rent payment is due.
Month 10 Base Rent + $6,884.25 when December 2025 Base Rent payment is due.
Month 11 Base Rent + $8,897.23 when January 2026 Base Rent payment is due
3. Rent Credit. Tenant has forfeited Rent Credits offered under as part of the Second Amendment of the Lease, as tenant failed to make all Deferred Rent Repayment payments during the Repayment Period. No late fees or interest shall not be imposed as part of this extension of the Repayment Period
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.
2 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A
5. City's Authority. Tenant acknowledges Landlord is entering into this Fourth Amendment modifying the Lease in Landlord's proprietary capacity and not in its regulatory or govemmental capacity. Nothing in this Fourth Amendment shall be construed as restraining, impairing or restricting the City in its regulatory capacity, or granting any rights upon the Tenant with respect to the use, occupancy or operation of the Premises in a manner inconsistent with any Laws or applicable requirements.
6. Ratification; Miscellaneous. Except as modified by this Fourth Amendment, in all other respects the Lease is hereby ratified and affirmed and remains in full force and effect. This Fourth Amendment may be executed in one or more counterparts.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
3 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the day and year last set forth below.
LANDLORD: TENANT:
AUCTIONS BY THE BAY,
CITY OF ALAMEDA, a California corporation
a charter city and municipal corporation
• DocuSigned by:
By: Allen Midhaan
By: Name: Allen Michaan
Jennifer Ott
City Manager Title: President
3/28/2025
Date: Date:
Approved as to Form
- DocuSigned by:
Len Aslarian
By:
-705Đ25E09D10464-
Len Aslanian
Assistant City Attorney
Recommended for Approval
- DocuSigned by:
By: Mede Franklin
Nicate Franklin
Base Reuse and Economic Development
Acting Director
Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A ACORD® DATE (MM/DD/YYYY)
CERTIFICATE OF LIABILITY INSURANCE
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. modAlert Certificate Team
XmodAlert.com Insurance Brokerage PHONE 408-300-5777 (AC, NO):
P.O. Box 8722 (A/C, No, Ext): 408-300-5760
E-MAIL
San Jose, CA 95155-8722 ADDRESS: [email protected] INSURERS) AFFORDING COVERAGE NAIC #
www.XmodAlert.com License #0141607 23620
INSURERA: Burlington Insurance Company
INSURED INSURER B: Wesco Insurance Company 25011
Auctions By lhe Bay, Inc. INSURER C: StarStone Specialty Insurance Company 2701 Monarch Street 44776
Alameda CA 94501 INSURER D: Technology Insurance Company, Inc. 42376 INSURER E :
INSURER F:
COVERAGES CERTIFICATE NUMBER: 84072258 REVISION NUMBER:
-
LTR TYPE OF INSURANCE
4328G 1191-YUMBER
COMMERCIAL GENERAL LIABILITY $1,000,000
DAMAGE TO RENTED
CLAIMS-MADE / OCCUR PREMISES (Ea occurrence) - $ 100,000 MED EXP (Any one person) $5,000
PERSONAL & ADV INJURY $1,000,000
GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $2,000,000 PRO.
POLICY LOC PRODUCTS -COMP/OP AGG SIncluded
OTHER: $ 1,000,000
AUTOMOBILE LIABILITY WPP1798764 06 2/1/2025 2/1/2026 (Ea accident) $ 1,000,000 ANY AUTO BODILY INJURY (Per person)
OWNED SCHEDULED BODILY INJURY (Per accident) s
AUTOS ONLY AUTOS
HIRED NON-OWNED ROPERTY DAMAC
AUTOS ONLY / AUTOS ONLY er accide
UMBRELLA LIAB OCCUR CSX00041418P-02 2/1/2025 2/1/2026 EACH OCCURRENCE $2,000,000 / EXCESS LIAB CLAIMS-MADE AGGREGATE $2,000,000
RETENTION S
D VORKERS COMPENSATI TWC4562717 2/1/2025 2/1/2026 • STATUTE T TERE
D EMPLOYERS' LIABIL
Y / N
XECUTI E.L. EACH ACCIDENT $1,000,000
NIA
E.L. DISEASE - EA EMPLOYEE $1,000,000
E.L. DISEASE - POLICY LIMIT $1,000,000
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) With regards to the following Alameda locations: 2701 Monarch (Bldg 20), Alameda CA 94501 & 2751 Todd St. (aka Bldg 525), Alameda CA 94501
CERTIFICATE HOLDER CANCELLATION
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE City of Alameda THE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
Anna CA S8l 5o, 3l0. 0 248
AUTHORIZED REPRESENTATIVE
nor
Roya Alexander
© 1988-2015 ACORD CORPORATION. All rights reserved.
ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD 84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 1 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3А AGENCY CUSTOMER ID:
LOC#:
ACORD® ADDITIONAL REMARKS SCHEDULE Page of
AGENCY NAMED INSURED
XmodAlert.com Insurance Brokerage Auctions By The Bay, Inc. 2701 Monarch Street
POLICY NUMBER Alameda CA 94501
432BG11191-01
CARRIER NAIC CODE
Burlington Insurance Company 23620 EFFECTIVE DATE: 2/1/2025
ADDITIONAL REMARKS
THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: 25 FORM TITLE: Certificate of Liability Insurance (03/16) HOLDER: City of Alameda c/o RiverRock Real Estate Group ADDRESS: 950 West Mall Square, Suite 239 Alameda CA 94501 City of Alameda, Alameda Municipal Power, City of Alameda Housing Authority, Community Improvement Commission, the City Council, the Alameda Reuse and Redevelopment Authority, its Boards, Commissions, Officers, Employees, and Volunteers, RiverRock Real Estate Group, Inc., their officers States Department of the Navy and Groer party designated by city of yes da teen of seat a deartoyees are i Mauded as Additional Insured for General Liability per attached form number CG 20 11 04 13. Waiver of subrogation applies per attached form CG 24 04 05 09.
Also included as Additional Insured for Auto Liability per attached form number CA 99 01 87 07 15.
ACORD 101(2008/01) © 2008 ACORD CORPORATION. All rights reserved.
The ACORD name and logo are registered marks of ACORD ADDENDUM 84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 2 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3А POLICY NUMBER: WPP1798764 06 COMMERCIAL AUTO
CA990187 0715
This Endorsement Changes The Policy. Please Read It Carefully
BUSINESS AUTO COVERAGE EXPANSION
ENDORSEMENT
This endorsement modifies insurance provided by the following:
BUSINESS AUTO COVERAGE FORM
With respect to coverage provided by this endorsement, the provisions of the COVERAGE FORM apply unless modified by the endorsement
A. Newly Acquired or Formed e. An "employee" of yours is an "insured" Organizations, Employee Hired Car while operating an "auto" hired or rented Liability and Blanket Additional Insured under a contract or agreement in that Status for Certain Entities. "employee's" name, with your Item 1. Who is an Insured of Paragraph A. permission, while performing duties Coverage under SECTION II - COVERED related to the conduct of your business.
AUTOS LIABILITY COVERAGE is f. Any person or organization you are amended to add: required by written contractor
d. Any organization you newly acquire or agreement to name as an additional form, other than a partnership, joint "insured", but only with respect to venture or limited liability company, and liability created in whole or in part by over which you maintain ownership of a such agreement.
majority interest (greater than 50%), will B. Increase Of Loss Earnings Payment qualify as a Named Insured; however, Subpart (4) of a. Supplementary Payments (1) coverage under this provision is of Item 2. Coverage Extensions of afforded only until the 180 day Paragraph A. Coverage under SECTION II after you acquire or form the - COVERED AUTOS LIABILITY organization or the end of the policy COVERAGE is amended to read:
period, whichever is earlier; (4) We will pay reasonable expenses (2) coverage does not apply to "bodily incurred by the "insured" at our injury". "property damage" or request, including actual loss of "covered pollution cost or expense" earnings up to $1,000 per day that results from an "accident" which because of time off from work. occurred before you acquired or C. Fellow Employee Injured By Covered formed the organization; and Auto You Own Or Hire
(3) coverage does not apply if there is Item 5. Fellow Employee of Paragraph B. other similar insurance available to Exclusions under SECTION II - COVERED that organization, or if similar AUTOS LIABILITY COVERAGE is insurance would have been amended to add:
available but for its termination or
the exhaustion of its limits of This exclusion does not apply if the "bodily insurance. injury" results from the use of a covered
"auto" you own or hire. Such coverage as
This insurance does not apply if is afforded by this provision is excess over coverage for the newly acquired or any other collectible insurance. formed organization is excluded either
by the provisions of this coverage form
or by endorsement.
CA990187 0715 Includes Copyrighted Material of Insurance Services Offices, Inc. Page 1 of 5 Used with permission
84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) 1 Page 3 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A D. Limited Automatic Towing Coverage G. "Personal Effects" Coverage Item 2. Towing, of Paragraph A. Coverage, Item 4. Coverage Extensions of Paragraph under SECTION III - PHYSICAL DAMAGE A. Coverage, under SECTION III - COVERAGE is amended to read: PHYSICAL DAMAGE COVERAGE, is amended to add:
2. Towing
"Personal Effects" Coverage
We will pay for towing and labor costs
each time that a covered "auto" is We will pay actual cash value for "loss" to disabled. All labor must be performed at "personal effects" of the "insured" while in the place of disablement of the covered a covered "auto" subject to a maximum "auto". limit of $2,500 per "loss", for that covered
"auto" caused by the same "accident". No
a. The limit for towing and labor for deductible will apply to this coverage. each disablement is $500;
H. "Downtime Loss" Coverage
b. No deductible applies to this cover-
age. Item 4. Coverage Extensions, of
Paragraph A. Coverage, under SECTION
E. Item 3. Glass Breakage - Hitting A Bird III. PHYSICAL DAMAGE COVERAGE, is Or Animal - Falling Objects or Missiles of amended to add:
Paragraph A. Coverage under SECTION III
"Downtime Loss" Coverage
- PHYSICAL DAMAGE COVERAGE, is
amended to add: We will pay any resulting "downtime loss" Glass Repair Coverage expenses you sustain as a result of a covered physical damage "loss" to a
We will waive the Comprehensive covered "auto" up to a maximum of $100 deductible for Glass, if one is indicated on per day, for a maximum of 30 days for the your covered "auto", for glass repairs. We same physical damage "loss", subject to will repair at no cost to you, any glass that the following conditions:
can be repaired without replacement,
provided the "loss" arises from a covered a. We will provide "downtime loss" beginning Comprehensive "loss" to your "auto" on the 5" day after we have given you our agreement to pay for repairs to a
F. Increase Of Transportation Expense covered "auto" and you have given the Coverage
repair facility your authorization to make
Subpart a. Transportation Expenses of repairs;
Item 4. Coverage Extensions of Paragraph b. Coverage for "downtime loss" expenses A. Coverage under SECTION III - will end when any of the following occur:
PHYSICAL DAMAGE COVERAGE is
(1) You have a spare or reserve "auto"
amended to read:
available to you to continue your
a. Transportation Expenses operations.
We will pay up to $50 per day to a (2) You purchase a replacement "auto". maximum of $1,000 for temporary
transportation expense incurred by you (3) Repairs to your covered "auto" have because of the total theft of a covered been completed by the repair facility "auto" of the private passenger type. and they determine the covered We will pay only for those covered "auto" is road-worthy. autos for wien you ected Causes of (4) You reach the 30 day maximum Comprehensive or Specified Causes of coverage.
Loss Coverage or Theft Coverage. We
will pay for temporary transportation
expenses incurred during the period
beginning 48 hours after the theft and
ending, regardless of the policy's
expiration, when the covered "auto" is
returned to use or we pay for its "loss".
CA990187 0715 Includes Copyrighted Material of Insurance Services Offices, Inc. Page 2 of 5 Used with permission
84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 4 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A I. Item 4. Coverage Extensions, of d. Contraband or property in the course Paragraph A. Coverage, under SECTION of illegal transportation or trade.
III. PHYSICAL DAMAGE COVERAGE, is e. "Loss" caused by theft, unless there is amended to add:
evidence of forced entry into the
We will pay any resulting rental covered "auto" and a police report is reimbursement expenses incurred by you for filed.
a rental of an "auto" because of "loss" to a
K. Accidental Airbag Discharge Coverage
covered "auto" up to a maximum of $100 per
day, for a maximum of 30 days for the same Item 3.a. of Paragraph B. Exclusions under physical damage "loss", subject to the SECTION III - PHYSICAL DAMAGE following conditions: COVERAGE is amended to read:
a. We will provide rental reimbursement a. Wear and tear, freezing, mechanical incurred during the policy period or electrical breakdown. The beginning 24 hours after the "loss" and exclusion relating to mechanical ending, regardless of the policy break-down does not apply to the expiration, with the number of days accidental discharge of an air bag. reasonably required to repair or replace L. Loan or Lease Gap Coverage the covered "auto". If the "loss" is
Paragraph C. Limit Of Insurance under
caused by theft, this number of days is SECTION III - PHYSICAL DAMAGE the number of days it takes to locate the COVERAGE is amended to add:
covered "auto" and return it to you or the
number of days it takes for the claim to If a covered "auto" is owned or leased and be settled, whichever comes first. if we provide Physical Damage Coverage on it, we will pay, in the event of a covered
b. Our payment is limited to necessary and
total "loss", any unpaid amount due on the
actual expenses incurred.
lease or loan for a covered "auto", less:
c. This coverage does not apply while a. The amount paid under the Physical there are spare or reserve "autos"
Damage Coverage Section of the
available to you for your operations. policy; and
d. If a "loss" results from the total theft of a
covered "auto" of the private passenger b. Any:
type, we will pay under this coverage (1) Overdue lease or loan only that amount of your rental payments including penalties, reimbursement expenses which is not interest or other charges already provided for under the Physical resulting from overdue Damage Coverage Extension. payments at the time of the
"loss";
J. "Personal Effects" Exclusion
(2) Financial penalties imposed
Paragraph B. Exclusions under SECTION under a lease for excessive use, III - PHYSICAL DAMAGE COVERAGE, is abnormal wear and tear or high amended to add: mileage;
"Personal Effects" Exclusion (3) Costs for extended warranties, We will not pay for "loss" to "personal Credit Life Insurance, Health, effects" of any of the following: Accident or Disability Insurance purchased with the loan or
a. Accounts, bills, currency, deeds,
evidence of debt, money, notes, lease;
securities or commercial paper or (4) Security deposits not refunded other documents of value. by the lessor; and
b. • Bullion, gold, silver, platinum, or other (5) Carry-over balances from precious alloys or metals; furs or fur previous loans or leases garments; jewelry; watches; precious
or semi-precious stones.
c. Paintings, statuary and other works of
art.
CA990187 0715 Includes Copyrighted Material of Insurance Services Offices, Inc. Page 3 of 5 Used with permission
84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 5 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A M. Aggregate Deductible (3) An "executive officer" or director, if Paragraph D. Deductible under SECTION you are a corporation; III - PHYSICAL DAMAGE COVERAGE is (4) A manager or member, if you are a amended to add: limited liability company;
Regardless of the number of covered (5) Your insurance manager; or "autos" involved in the same "loss", only (6) Your legal representative. one deductible will apply to that "loss". If
the deductible amounts vary by "autos", P. Waiver Of Subrogation For Auto Liability then only the highest applicable deductible Losses Assumed Under Insured Contract will apply to that "loss". Item 5. Transfer Of Rights Of Recovery N. Diminishing Deductible Against Others To Us of Paragraph A.
Loss Conditions under SECTION IV -
Paragraph D. Deductible under SECTION BUSINESS AUTO CONDITIONS is III - PHYSICAL DAMAGE COVERAGE is amended to read:
amended to add:
5. Transfer of Rights of Recovery
Any deductible will be reduced by the Against Others To Us percentage indicated below on the first
"loss" reported during the corresponding If any person or organization to or for policy period: whom we make payments under this
Coverage Form has rights to recover
damages from another, those rights are
Loss Free Policy Periods Deductible transferred to us. That person or With the Expansion Reduction on the organization must do everything Endorsement first "loss" necessary to secure our rights and must 1 0% do nothing after an "accident" or "loss"
25% to impair them. However, if the insured
has waived those rights to recover
3 50% through a written contract, we will waive
4 75% any right to recovery we may have
5 100% under this Coverage Form.
If we pay a Physical Damage "loss" during Q. Insurance is Primary and the policy period under any BUSINESS Noncontributory
AUTO COVERAGE FORM you have with Subpart a. of Item 5. Other Insurance of us, your deductible stated in the Paragraph B. General Conditions under Declarations page of each such SECTION IV - BUSINESS AUTO COVERAGE FORM will not be reduced on CONDITIONS is amended to read:
any subsequent claims during the remainder
of your policy period and your deductible a. This insurance is primary and noncontributory, as respects any other
reduction will revert back to 0% for each
such COVERAGE FORM if coverage is insurance, it required in a written contract with you.
renewed
R. Other Insurance - Hired Auto Physical
O. Knowledge of Loss and Notice To Us Damage
Subsection a. of Item 2. Duties In the Event Subpart b. of Item 5. Other Insurance of of Accident, Claim, Suit or Loss of
Paragraph B. General Conditions under
Paragraph A. Loss Conditions under
SECTION IV - BUSINESS AUTO
SECTION IV -- BUSINESS AUTO
CONDITIONS is amended to read:
CONDITIONS is amended to add:
b. For Hired Auto Physical Damage
However, prompt notice of the "accident", Coverage, the following are deemed claim, "suit" or "loss" to us or our
to be covered "autos" you own:
authorized representative only applies
after the "accident", claim, "suit" or "loss" is (1) Any covered "auto" you lease, known to: hire, rent or borrow; and
(1) You, if you are an individual;
(2) A partner, if you are a partnership;
CA990187 0715 Includes Copyrighted Material of Insurance Services Offices, Inc. Page 4 of 5 Used with permission
84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 6 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A (2) Any covered "auto" hired or rented
by your "employee" under a
contract in that individual
"employee's" name, with your
permission, while pertorming
duties related to the conduct of
your business.
However, any "auto" that is leased, hired
rented or borrowed with a driver is not a
covered "auto"
S. Unintentional Failure To Disclose
Hazards
Paragraph B. General Conditions under
SECTION IV - BUSINESS AUTO CONDI-
TIONS is amended to add:
9. Your failure to disclose all hazards
existing as of the inception date of this
policy shall not prejudice the coverage
afforded by this policy, provided that
such failure to disclose all hazards is not
intentional. However, you must report
such previously undisclosed hazards to
us as soon as practicable after its
discovery.
T. Additional Definition
SECTION V - DEFINITIONS is amended to
add:
"Personal effects" means personal
property owned by the "insured".
"Downtime loss" means actual loss of
"business income" for the period of time
that a covered "auto":
1. Is out of service for repair or
replacement as a result of a covered
physical damage "loss" and
2. Is in the custody of a repair facility if
not a total "loss".
"Business Income" means:
1. Net Income (Net Profit or Loss
before income taxes) that would
have been earned or incurred; and
2. Continuing normal operating
expenses incurred, including payroll.
In this endorsement, Headings and Titles
are inserted solely for the convenience and
ease of reference. They do not affect the
coverage provided by this endorsement,
nor do they constitute any part of the terms
and conditions of this endorsement. All
other policy wording not specifically
changed, modified, or replaced by this
endorsement wording remains in effect.
CA990187 0715 Includes Copyrighted Material of Insurance Services Offices, Inc. Page 5 of 5 Used with permission
84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 7 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A POLICY NUMBER: U70499230GLX COMMERCIAL GENERAL LIABILITY CG 20 11 04 13
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
ADDITIONAL INSURED - MANAGERS OR
LESSORS OF PREMISES
This endorsement modifies insurance provided under the following:
COMMERCIAL GENERAL LIABILITY COVERAGE PART
SCHEDULE
Designation Of Premises (Part Leased To You):
All locations otherwise covered by this insurance.
Name Of Person(s) Or Organization(s) (Additional Insured):
Any person or organization if coverage as an additional insured is required by a written lease contract or written lease agreement that is an "insured contract" and provided that the "bodily injury", "property damage", or "personal and advertising injury" first occurs subsequent to the execution of the contract or agreement.
Additional Premium: $ Included
Information required to complete this Schedule, if not shown above, will be shown in the Declarations.
A. Section II - Who Is An Insured is amended to 2. If coverage provided to the additional insured include as an additional insured the person(s) or is required by a contract or agreement, the organization(s) shown in the Schedule, but only insurance afforded to such additional insured respect to liability arising out of the will not be broader than that which you are ownership, maintenance or use of that part of the required by the contract or agreement to to you and shown in the provide for such additional insured.
Schedule and subject to the following additional B. With respect to the insurance afforded to these exclusions:
additional insureds, the following is added to
This insurance does not apply to: Section III - Limits Of Insurance:
1. Any "occurrence" which takes place after you If coverage provided to the additional insured is cease to be a tenant in that premises. required by a contract or agreement, the most we
2. Structural alterations, new construction or will pay on behalf of the additional insured is the demolition operations performed by or on
behalf of the person(s) or organization(s) 1. Required by the contract or agreement; or shown in the Schedule. 2. Available under the applicable Limits of However: Insurance shown in the Declarations:
1. The insurance afforded to such additional whichever is less. insured only applies to the extent permitted This endorsement shall not increase the by law; and applicable Limits of Insurance shown in the Declarations.
CG 20 11 04 13 © Insurance Services Office, Inc., 2012 Page 1 of 1 84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 8 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A POLICY NUMBER: U70499230GLX COMMERCIAL GENERAL LIABILITY CG 24 04 05 09
WAIVER OF TRANSFER OF RIGHTS OF RECOVERY
AGAINST OTHERS TO US
This endorsement modifies insurance provided under the following:
COMMERCIAL GENERAL LIABILITY COVERAGE PART
PRODUCTS/COMPLETED OPERATIONS LIABILITY COVERAGE PART
SCHEDULE
Name Of Person Or Organization:
person or organization you have agreed in a written contract to waive any right of recovery against provide ne written contract is executed prior to the injury or damage Information required to complete this Schedule, if not shown above, will be shown in the Declarations.
The following is added to Paragraph 8. Transfer Of
Rights Of Recovery Against Others To Us of
Section IV - Conditions:
We waive any right of recovery we may have against
the person or organization shown in the Schedule
above because of payments we make for injury or
damage arising out of your ongoing operations or
"your work" done under a contract with that person
or organization and included in the "products-
completed operations hazard". This waiver applies
only to the person or organization shown in the
Schedule above.
CG 24 04 05 09 © Insurance Services Office, Inc., 2008 Page 1 of 1 • 84072258 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 9 of 9 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A ACORD® DATE (MM/DD/YYYY)
CERTIFICATE OF LIABILITY INSURANCE
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
NAME: modAlert Certificate Team
XmodAlert.com Insurance Brokerage PHONE 408-300-5777 (AC, NO):
P.O. Box 8722 (A/C, No, Ext): 408-300-5760
E-MAIL
San Jose, CA 95155-8722 ADDRESS: [email protected] INSURERS) AFFORDING COVERAGE NAIC #
www.XmodAlert.com License #0141607 INSURERA: Burlington Insurance Company 23620 INSURED INSURER B: Wesco Insurance Company 25011
Auctions By lhe Bay, Inc.
2701 Monarch Street INSURER C: StarStone Specialty Insurance Company 44776 Alameda CA 94501 INSURER D: Technology Insurance Company, Inc. 42376 INSURER E :
INSURER F:
COVERAGES CERTIFICATE NUMBER: 84072259 REVISION NUMBER:
INSR
LTR
4328G 1191-NUMBER
COMMERCIAL GENERAL LIABILITY $1,000,000
DAMAGE TO RENTED
CLAIMS-MADE V OCCUR PREMISES (Ea occurrence) - $ 100,000 MED EXP (Any one person) $5,000
PERSONAL & ADV INJURY $1,000,000
GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $2,000,000 RO
POLICY LOC PRODUCTS - COMP/OP AGG SIncluded
OTHER: $ 1,000,000
AUTOMOBILE LIABILITY WPP1798764 06 2/1/2025 2/1/2026 (Ea accident) $ 1,000,000 / ANY AUTO BODILY INJURY (Per person)
OWNED SCHEDULED BODILY INJURY (Per accident) s
AUTOS ONLY AUTOS
HIRED NON-OWNED ROPERTY DAMAC
AUTOS ONLY / AUTOS ONLY er accide
UMBRELLA LIAB OCCUR CSX00041418P-02 2/1/2025 2/1/2026 EACH OCCURRENCE $2,000,000 / EXCESS LIAB CLAIMS-MADE AGGREGATE $2,000,000
RETENTION S
D VORKERS COMPENSATI TWC4562717 2/1/2025 2/1/2026 • STATUTE T TER*
D EMPLOYERS LIABIL YIN
N/ A E.L. EACH ACCIDENT $1,000,000
(Mandatory in NH) E.L. DISEASE - EA EMPLOYEE $1,000,000 DESCRIPTION OF OPERATIONS below E.L. DISEASE - POLICY LIMIT $1,000,000 DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
CERTIFICATE HOLDER CANCELLATION
NOTICE WILL BE DELIVERED IN
ACCORDANCE WITH THE POLICY PROVISIONS.
AUTHORIZED REPRESENTATIVE
nor
Roya Alexander
© 1988-2015 ACORD CORPORATION. All rights reserved.
ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD 84072259 | 25/26 GL UMB AU WC | Frank Alexander | 2/24/2025 7:09:09 PM (PST) | Page 1 Of 1 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3А
DATE (MM/DD/YYYY)
ACORD® EVIDENCE OF PROPERTY INSURANCE
2/25/2025
THIS EVIDENCE OF PROPERTY INSURANCE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE ADDITIONAL INTEREST NAMED BELOW. THIS EVIDENCE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS EVIDENCE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE
ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE ADDITIONAL INTEREST AGENCY PHONE 408-300-5777 COMPANY
(A/C. No, Ext):
XmodAlert.com Insurance Brokerage Wesco Insurance Company P.O. Box 8722 59 Maiden Lane
San Jose, CA 95155-8722 6th Floor
License #0 41607 www.XmodAlert.com 175 Berkeley Street
(A/C, No): 408-300-5760 ADES: [email protected] New York NY 10038 CODE: SUB CODE:
USTOMER ID #
NSURED LOAN NUMBER POLICY NUMBER
Auctions By The Bay, Inc. WPP1803036 06
2701 Monarch Street EFFECTIVE DATE EXPIRATION DATE
Alameda CA 94501 ONTINUED UNT
2/1/2025 2/1/2026 ERMINATED IF CHECKI
THIS REPLACES PRIOR EVIDENCE DATED:
PROPERTY INFORMATION
(LOCATION/DESCRIPTION
Blanket-Bldg-BPP-BI
2701 Monarch (Bldg 20), Alameda CA 94501
HE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATE
OTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH TH VIDENCE OF PROPERTY INSURANCE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN I:
UBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS COVERAGE INFORMATION PERILS INSURED | I BASIC BROAD SPECIAL
COVERAGE / PERILS / FORMS AMOUNT OF INSURANCE DEDUCTIBLE Agreed Value / Coinsurance: None
Building, Special Form, Replacement Cost 28,662,350 25,000 Contents, Special Form, Replacement Cost 624,226 25,000 Business Income & Extra Expense, Special Form 1,825,000 REMARKS (Including Special Conditions)
Loss Payee endorsement applies. Endorsement has been requested from the carrier and will arrive under separate cover.
Agreed Value endorsement applies per attached form CP 00 10 10 12.
CANCELLATION
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
ADDITIONAL INTEREST
NAME AND ADDRESS ADDITIONAL INSURED LENDER'S LOSS PAYABLE / LOSS PAYEE
MORTGAGEE
The City of Alameda
LOAN #
c/o RiverRock Real Estate Group
950 West Mall Square, Suite 239
Alameda CA 94501 AUTHORIZED REPRESENTATIVE
Roya Alexander
ACORD 27(2016/03) © 1993-2015 ACORD CORPORATION. All rights reserved.
The ACORD name and logo are registered marks of ACORD
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b. If one Limit of Insurance applies to two or (2) Submits a signed, sworn proof of loss more separate items, this condition wil within 60 days after receiving notice apply to the total of all property to which the from us of your failure to do so; and limit applies. (3) Has notified us of any change in
Example 3 ownership, occupancy or substantial
change in risk known to the
When: The value of the property is: mortgageholder.
Building at Location 1: $ 75,000 All of the terms of this Coverage Part will Building at Location 2: $ 100,000 then apply directly to the mortgageholder.
Personal Property e. If we pay the mortgageholder for any loss at Location 2: $ 75,000
$ 250,000
The Coinsurance percentage Coverage Part:
for it is: 90%
The Limit of Insurance for (1) The mortgageholder's rights under the Buildings and Personal Property mortgage will be transferred to us to the at Locations 1 and 2 is: $ 180,000 extent of the amount we pay; and The Deductible is: $ 1,000 (2) The mortgageholder's right to recover the full amount of the mortgageholder's
The amount of loss is:
claim will not be impaired.
Building at Location 2: $ 30,000
At our option, we may pay to the
Personal Property mortgageholder the whole principal on the at Location 2: $ 20,000 mortgage plus any accrued interest. In this $ 50,000 event, your mortgage and note will be
transferred to us and you will pay your
Step (1): $250,000 x 90% = $225,000
remaining mortgage debt to us.
(the minimum amount of insurance to
meet your Coinsurance requirements f. If we cancel this policy, we will give written and to avoid the penalty shown below) notice to the mortgageholder at least:
Step (2): $180,000 ÷ $225,000 = 80 (1) 10 days before the effective date of Step (3): $50,000 x .80 = $40,000 cancellation if we cancel for your nonpayment of premium; or
Step (4): $40,000 - $1,000 = $39,000
(2) 30 days before the effective date of
We will pay no more than $39,000. The remaining cancellation if we cancel for any other $11,000 is not covered. reason.
2. Mortgageholders g. If we elect not to renew this policy, we will a. The term mortgageholder includes trustee. give written notice to the mortgageholder at least 10 days before the expiration date of
b. We will pay for covered loss of or damage this policy. to buildings or structures to each
mortgageholder shown in the Declarations G. Optional Coverages in their order of precedence, as interests If shown as applicable in the Declarations, the may appear. following Optional Coverages apply separately to c. The mortgageholder has the right to receive
loss payment even if the mortgageholder 1. Agreed Value has started foreclosure or similar action on a. The Additional Condition, Coinsurance, the building or structure. does not apply to Covered Property to d. If we deny your claim because of your acts Which this Optional Coverage applies. We or because you have failed to comply with will pay no more for loss of or damage to the terms of this Coverage Part, the that property than the proportion that the mortgageholder will still have the right to Limit of Insurance under this Coverage Part receive loss payment if the mortgageholder: for the property bears to the Agreed Value (1) Pays any premium due under this shown for it in the Declarations.
Coverage Part at our request if you
have failed to do so;
84080010 | 25/26 Auctions/Antiques EOP | Frank Alexander | 2/25/2025 10:32:55 AM (PST) | Page 2 of 3 Docusign Envelope ID: CC8F17D4-0099-4BC6-A355-DD154161CE3A b. If the expiration date for this Optional (4) "Stock", unless the Including "Stock" Coverage shown in the Declarations is not option is shown in the Declarations. extended, the Additional Condition, Under the terms of this Replacement Cost Coinsurance, is reinstated and this Optional Optional Coverage, tenants' improvements Coverage expires. and betterments are not considered to be c. The terms of this Optional Coverage apply the personal property of others. only to loss or damage that occurs: c. You may make a claim for loss or damage (1) On or after the effective date of this covered by this insurance on an actual cash Optional Coverage; and value basis instead of on a replacement (2) Before the Agreed Value expiration date cost basis. In the event you elect to have shown in the Declarations or the policy loss or damage settled on an actual cash expiration date, whichever occurs first. value basis, you may still make a claim for the additional coverage this Optional
2. Inflation Guard Coverage provides if you notify us of your a. The Limit of Insurance for property to which intent to do so within 180 days after the loss this Optional Coverage applies will or damage.
automatically increase by the annual d. We will not pay on a replacement cost basis percentage shown in the Declarations. for any loss or damage:
b. The amount of increase will be: (1) Until the lost or damaged property is (1) The Limit of Insurance that applied on actually repaired or replaced; and the most recent of the policy inception (2) Unless the repair or replacement is date, the policy anniversary date, or any made as soon as reasonably possible other policy change amending the Limit after the loss or damage. of Insurance, times
With respect to tenants' improvements and
(2) The percentage of annual increase betterments, the following also apply:
shown in the Declarations, expressed as
a decimal (example: 8% is .08), times (3) If the conditions in d.(1) and d. (2) above are not met, the value of tenants'
(3) The number of days since the beginning improvements and betterments will be of the current policy year or the effective determined as a proportion of your date of the most recent policy change original cost, as set forth in the amending the Limit of Insurance, divided Valuation Loss Condition of this by 365. Coverage Form; and
Example (4) We will not pay for loss or damage to
tenants' improvements and betterments
If: The applicable Limit of Insurance is: $ 100,000
if others pay for repairs or replacement.
The annual percentage increase is: 8%
e. We will not pay more for loss or damage on
The number of days since the
a replacement cost basis than the least of
beginning of the policy year (1), (2) or (3), subject to f. below:
(or last policy change) is: 146
The amount of increase is: (1) The Limit of Insurance applicable to the $100,000 x 08 × 146 ÷ 365 = lost or damaged property;
3,200
(2) The cost to replace the lost or damaged
3. Replacement Cost property with other property:
a. Replacement Cost (without deduction for (a) Of comparable material and quality; depreciation) replaces Actual Cash Value in
the Valuation Loss Condition of this (b) Used for the same purpose; or Coverage Form.
(3) The amount actually spent that is
b. This Optional Coverage does not apply to: necessary to repair or replace the lost or (1) Personal property of others; damaged property.
(2) Contents of a residence; If a building is rebuilt at a new premises, the (3) Works of art, antiques or rare articles, cost described in e.(2) above is limited to including etchings, pictures, statuary, the cost which would have been incurred if marbles, bronzes, porcelains and bric-a- the building had been rebuilt at the original brac; or premises.
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