T:\Attorney-Boiler\Assign Long Term Ground Lease.wpd
9/2/2025
ASSIGNMENT OF
BAKERSFIELD MUNICIPAL AIRPORT
LONG-TERM GROUND LEASE
LEASE AGREEMENT NO. 2023-079 (1)
For value received, Braly Properties (White Lane) , LLC (“Assignor”), whose address is 825 E . White Lane , Kern Count y, California, assigns , transfers, and conveys to City Point , LLC (“Assignee”), whose address is 1601 S outh Union Avenue, Kern County, California, all of Assignor’s right, title and interest in that certain Bakersfield Municipal Airport Ground Lease, Lease Agreement No. 2023- 079 between Assignor and the City of Bakersfield, dated April 12, 2023 (“Ground Lease”). A copy of said Ground Lease is attached as Exhibit “A” and incorporated herein by reference.
Assignor warrants that the Ground Lease is in full force and effect and that there has been no breach by any of the parties to the Ground Lease. Assignor further warrants that Assignor is in full compliance with all the terms and conditions of the Ground Lease, that Assignor has the right to assign the Ground Lease and that Assignor has not assigned or encumbered all or any part of Assignor’s rights under the Ground Lease.
Assignee accepts the above assignment and assumes all of the obligations of Assignor under the Ground Lease. Assignee agrees to perform all obligations to be performed by Assignor under the Ground Lease according to its terms and conditions from and after the date of this assignment.
Assignee agrees to indemnify, defend, and hold Assignor and the City of Bakersfield harmless from any and all liabilities, claims, causes of action, or expenses with respect to the Ground Lease to the extent relating to or caused by acts, events, omissions, or conditions arising after the date of this assignment.
Assignor agrees to indemnify, defend, and hold Assignee and the City of Bakersfield harmless from any and all liabilities, claims, causes of action, or expenses with respect to the Ground Lease to the extent relating to or caused by acts, events, omissions, or conditions occurring on or prior to the date of this assignment.
The City of Bakersfield, as the owner of the Bakersfield Municipal Airport and the real property affiliated therewith, and by virtue thereof, a party to that certain Bakersfield Municipal Airport Long -Term Ground Lease, Lease Agreement No. 2023-079, consents to the assignment of the rights and obligations of Braly Properties (White Lane), LLC under the aforesaid Ground Lease to City Point, LLC.
Docusign Envelope ID: E81BA48B-BF62-46F8-83FC-851CC6177A2C
T:\Attorney-Boiler\Assign Long Term Ground Lease.wpd
9/2/2025
This consent to assignment will not waive any restriction or requirement in the original Ground Lease referenced above relating to any further assignment by the Assignee.
CITY OF BAKERSFIELD, “CITY” “ASSIGNOR”
BRALY PROPERTIES (WHITE LANE), LLC
______________________________ ________________________________
KAREN GOH
Mayor Print Name: Robert Braly
Title: Manager
“ASSIGNEE”
APPROVED AS TO FORM: CITY POINT, LLC
VIRGINIA GENNARO
City Attorney _________________________________
Print Name: Navdeep Grewal
Title: Managing Member
___________________________
ASHLEY ZAMBRANO
Deputy City Attorney
APPROVED AS TO CONTENT:
PUBLIC WORKS DEPARTMENT
______________________________
ZACHARY MEYER
Public Works Director
COUNTERSIGNED:
______________________________
RANDY MCKEEGAN
Finance Director
Docusign Envelope ID: E81BA48B-BF62-46F8-83FC-851CC6177A2C