AGENDA REPORT
Meeting Date: March 24, 2026
Item Number:
To: Board of Directors, Parking Authority of the City of Beverly Hills From: Logan Phillippo, Real Property Development Manager Jonathan Gernes, Senior Management Analyst
Subject: APPROVAL OF LEASE TERMINATION AGREEMENT BY AND
BETWEEN THE PARKING AUTHORITY OF THE CITY OF BEVERLY
HILLS AND IMAGINE IT FORWARD LLC AT 311 NORTH CRESCENT
DRIVE
Attachment: 1. Lease Termination Agreement
RECOMMENDATION
Staff recommends the Parking Authority Board of Directors approve the Lease Termination Agreement by and between The Parking Authority of the City of Beverly Hills (the “Parking Authority”) and Imagine It Forward LLC (the “Tenant”) at 311 North Crescent Drive.
INTRODUCTION
The proposed Lease Termination Agreement with Imagine It Forward LLC will terminate the agreement effective March 24, 2026. The Tenant will have no further obligations under the lease and the Parking Authority will retain the security deposit.
DISCUSSION
The Parking Authority entered into a retail lease at 311 North Crescent with Imagine It Forward LLC on October 13, 2020, and an Amendment of Lease dated May 7, 2024 (collectively, the “Lease”). The space was operated by the prior tenant as a salon, and Imagine It Forward LLC extensively renovated the space to change the use to a healthfocused juice and water bar operating as The Art of Juice and Water. The Tenant conducted the improvements at its sole cost and performance per the terms of the lease; the Parking Authority did not conduct any landlord improvements and did not provide an allowance for the tenant’s improvements.
Meeting Date: March 24, 2026
The Tenant opened its business in July 2022, working with a limited back of house in the suite, which is approximately 435 square feet. The lease was subsequently amended to expand the premises to include non-contiguous storage space and to extend the term of the agreement through December 31, 2026. The Tenant reports that the Tenant’s sales were ultimately unable to sustain the costs of operating the business, and the business ceased operations on December 13, 2024. The Tenant continued to pay rent and fulfill the lease obligations through December 2025 despite being non-operational. The Tenant failed to pay rent for January through March 2026 and is under default per the Lease.
The Lease Termination Agreement terminates the lease effective March 24, 2026, and The Parking Authority retains the security deposit.
FISCAL IMPACT
The Lease Termination Agreement will shorten the term by approximately 9 months and will release the Tenant of $7,362.08 in unpaid charges. The Parking Authority will retain the $3,506 security deposit.
Ryan Gohlich,
Assistant City Manager
Approved By
Attachment 1
-1-
B0785-0001\3216581v2.doc
LEASE TERMINATION AGREEMENT
THIS LEASE TERMINATION AGREEMENT (this “Agreement”) is dated as of March 24, 2026, and is entered into by and between THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”) and IMAGINE IT FORWARD LLC, a California limited liability company (“Tenant”).
R E C I T A L S:
A. Landlord and Tenant entered into a Retail Lease dated October 13, 2020, and an Amendment of Lease dated May 7, 2024 amending the Retail Lease (collectively, the “Lease”) for space (the “Premises”) in the building (the “Building”) owned by Lessor located at 311 North Crescent Drive, Beverly Hills, California; B. The Lease currently expires on December 31, 2026;
C. Landlord and Tenant desire to reduce the Lease term, terminate the Lease on the terms and subject to the conditions hereinafter set forth and otherwise amend the Lease as hereinafter set forth; and
D. Tenant has not paid sums due under the Lease in the amount of $7,362.08 for the period from January 2026 to March 2026.
A G R E E M E N T:
NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and release(s) set forth, the sufficiency of which the parties hereto acknowledge, the parties hereto agree as follows:
1. Termination of Lease. Tenant shall vacate the Premises, remove its personal property from the Premises, and deliver possession of the Premises to Landlord on or before March 24, 2026 (including all keys to the Premises, which shall be delivered to Logan Phillippo at 455 North Rexford Drive, Beverly Hills, CA 90210). The Lease shall terminate as of the date (“Termination Date”) on which Tenant timely complies with the foregoing, and upon such termination, except for Tenant’s obligations under this Agreement and obligations arising under the Lease prior to the Termination Date other than obligations relating to payment of rent and other sums (but including defense and indemnity obligations of Lessee for events occurring prior to the Termination Date), Tenant shall have no further obligations to Landlord in connection with or under the Lease.
2. Personal Property; Waiver by Tenant. If Tenant fails to remove any personal property, except the Moss Wall (as defined herein), by the Termination Date, Landlord may retain or dispose of it in any manner, without obligation or liability to Tenant, and Tenant hereby waives all statutes and any other laws to the contrary. The “Moss Wall” shall mean that certain movable wall covered in artificial moss that is located along the South wall of the Premises and is approximately six feet by eight feet. The Moss Wall shall not be removed, altered, or otherwise disturbed by Landlord, and Tenant shall have reasonable access to the Premises, upon prior notice, to market, sell, and remove the Moss Wall. If the Moss Wall is not picked up by Tenant by sixty Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B -2-
B0785-0001\3216581v2.doc
(60) days after the date hereof from the Premises, Tenant shall forfeit all rights to such item and acknowledges Landlord may dispose of it, in Landlord’s sole and absolute discretion, in any manner Landlord so chooses. Landlord shall have no liability for any damage or deterioration in the condition of the Moss Wall, regardless of the cause or nature of such damage (including intentional act or gross negligence).
3. Security Deposit. Landlord shall keep the security deposit from Tenant in the amount of Three Thousand Five Hundred Six Dollars ($3,506.00).
4. Tenant Release of Landlord.
4.1 Definition of Claims. As used herein, the term “Claims” shall mean any past, present or future, fixed or contingent, matured or unmatured, liquidated or unliquidated, claims, cross-claims, obligations, liabilities, rights, demands, notices, injuries, damages, losses, requests, obligations to defend or indemnify, suits, lawsuits, costs, costs of suit, attorneys’ fees, experts’ fees, actions, administrative proceedings, causes of action or orders, of any nature, character, type or description, whenever and however occurring, whether at law, or in equity, and whether sounding in tort, contract, nuisance, trespass, negligence, strict liability or any statutory, common law or other cause of action.
4.2 Release by Tenant (Including Release/Waiver of Relocation Benefits).
Effective as of the date on which the Lease terminates under Section 1 of this Agreement, Tenant hereby fully and irrevocably releases, waives, acquits and discharges Landlord from all Claims, whether known or unknown, existing or potential, suspected or unsuspected, or that may hereafter be sustained, that Tenant may have or assert, or may hereafter have or assert, by reason of any contract (express, oral or written, implied in fact or implied in law), right to defense or indemnification (legal or equitable, contractual, statutory or common law), liability, matter, cause, fact, thing or act or omission arising out of, caused by or having any connection with the Lease or the Premises or Tenant’s vacating the Premises, including without limitation any Claims for or relating to relocation benefits to which Tenant may be entitled under applicable law, and including without limitation any Claims related to the Moss Wall. Without limiting the foregoing, Tenant hereby waives, and agrees not to file or assert, any Claims, including without limitation, Claims for relocation benefits.
4.3 Discovery of Facts. Tenant acknowledges that Tenant may hereafter discover facts different from, or in addition to, those that Tenant now believes to be true with respect to any and all of the matters or rights released in this Section 4. Nevertheless, Tenant agrees that the releases set forth in this Section 4 shall be and remain effective in all respects, notwithstanding the discovery of any such different or additional facts.
4.4 1542 Waiver. Tenant hereby waives and relinquishes all rights and benefits under California Civil Code Section 1542, which provides as follows:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS
THAT THE CREDITOR OR RELEASING PARTY DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT
THE TIME OF EXECUTING THE RELEASE, AND THAT, IF
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B -3-
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KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY
AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR
OR RELEASED PARTY.”
Tenant’s Initials
5. Stipulation by Tenant. Tenant hereby stipulates and agrees that if Tenant fails to deliver possession of the Premises as provided by Section 1 of this Agreement, then Landlord shall have the irrevocable right, upon ex parte application and without notice to Tenant or any hearing, to a judgment from any court with jurisdiction awarding possession of the Premises to Tenant (without limiting any other remedies Landlord may have for Tenant’s breach of this Agreement).
6. Condition of the Premises. Tenant’s obligations under the Lease with respect to the condition of the Premises at the time possession of same is delivered to Landlord upon termination of the Lease shall survive the termination of the Lease.
7. Entire Agreement. This Agreement is the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreement and discussion.
8. No Waiver. The waiver of any provision of this Agreement must be in writing and signed by the party providing such waiver. The waiver of a breach of any provision of this Agreement shall not be deemed to be a waiver of such provision or any subsequent breach of the same or any other provision of this Agreement. Acceptance of performance after the due date of such performance shall not be deemed to be a waiver any preceding breach of any provision of this Agreement, regardless of the accepting party’s knowledge of such preceding breach at the time of acceptance of such performance. The parties further acknowledge and agree that if and to the extent that either party does not require the other to strictly comply with the covenants, agreements and obligations contained herein, such action or inaction shall not constitute a waiver of, or otherwise affect or prejudice in any manner, either party’s present or future rights, remedies, benefits or powers, including the right to require performance of such covenants, agreements and obligations strictly in accordance with the terms and provisions of this Agreement.
9. Severability. If any court of competent jurisdiction determines any provision of this Agreement to be invalid, illegal or unenforceable, that provision shall be deemed severed from the rest, which shall remain in full force and effect as though the invalid, illegal or unenforceable provision had never been a part hereof.
10. Modifications. No provision of this Agreement may be changed, discharged, supplemented, terminated or waived except in a writing signed by the parties hereto.
11. Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of, the parties and their respective successors and assigns, and successors-in-interest.
12. Counterparts; Electronic Signatures; DocuSign. This Agreement may be executed in any number of counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, taken together, shall be deemed to be one and the same instrument.
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B -4-
B0785-0001\3216581v2.doc
Emailed copies of this Agreement may be executed and may be delivered by email to [email protected] for Landlord and to [email protected] for Tenant.
This Agreement may be executed and delivered using DocuSign.
13. Executive Director Authority. This Agreement may be executed by the Executive Director of Landlord on behalf of Landlord.
14. Termination of Recorded Memorandum of Lease. Upon its execution and delivery of this Termination Agreement, Tenant shall concurrently execute and deliver a duly acknowledged counterpart of the Termination of Memorandum of Lease in the form attached hereto as Exhibit “A”.
15. Governing Law; Jurisdiction. The terms and conditions of, and the rights and obligations under, this Agreement shall be construed and enforced in accordance with, and governed by, the local laws of the State of California. Lessee hereby submits to the jurisdiction of the Superior Court of the State of California in Los Angeles County and agree that any dispute regarding the interpretation or enforcement of, or any other matter relating to, this Agreement shall be determined in and by such court.
16. Time of Essence. Time is of the essence of each provision hereof in which time is a factor.
IN WITNESS WHEREOF, Landlord and Tenant have executed this Agreement as of the day and year first set forth above.
LANDLORD:
THE PARKING AUTHORITY OF THE CITY
OF BEVERLY HILLS
By:
Sharona R. Nazarian, PsyD,
Chairperson
ATTEST:
By:
Huma Ahmed,
Secretary
APPROVED AS TO FORM:
By:
Laurence S. Wiener,
Parking Authority Counsel
APPROVED AS TO CONTENT:
By:
Nancy Hunt-Coffey,
Executive Director
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B -5-
B0785-0001\3216581v2.doc
TENANT:
IMAGINE IT FORWARD LLC,
a California limited liability company
By:
Bita Rad,
Manager
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B A-1-
B0785-0001\3216581v2.doc
EXHIBIT “A”
FORM OF TERMINATION OF MEMORANDUM OF LEASE
(Attached.)
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B A-2-
B0785-0001\3216581v2.doc
RECORDING REQUESTED BY, AND
WHEN RECORDED RETURN TO:
City of Beverly Hills
455 North Rexford Drive
Beverly Hills, California 90210
Attention: City Clerk
[Space Above For Recorder’s Use Only]
This Termination of Memorandum of Lease is recorded for the benefit of the City of Beverly Hills and is exempt from Recording Fees pursuant to Sections 6103, 27383 and 27388.1 of the California Government Code.
TERMINATION OF MEMORANDUM OF LASE
THIS TERMINATION OF MEMORANDUM OF LEASE (the “Termination”) is dated as of March 24, 2026, and is entered into by and between THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”) and IMAGINE IT FORWARD LLC, a California limited liability company (“Tenant”).
RECITALS
A. Tenant and Landlord entered into that certain “Lease” with the effective date of October 13, 2020 herewith (the “Lease”), pursuant to which the Landlord agreed to lease and demise to Tenant, and Tenant has agreed to lease and accept from Landlord, the certain space (the “Premises”) located at 311 North Crescent Drive, Beverly Hills, California.
B. Tenant and Landlord executed a Memorandum of Lease dated October 13, 2020 (the “Memorandum”).
C. Landlord and Tenant have agreed to terminate the Lease on March 24, 2026; consequently, Landlord and Tenant desire to terminate the Memorandum as of March 24, 2026.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Tenant and Landlord agree as follows:
1. Termination of Recorded Memorandum. Landlord and Tenant hereby terminate the Memorandum as of March 24, 2026.
2. Counterparts. This Termination may be executed in any number of counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, taken together, shall be deemed to be one and the same instrument.
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B A-3-
B0785-0001\3216581v2.doc
IN WITNESS WHEREOF, the parties hereto have executed this Termination of Memorandum of Lease as of the date first written above.
LANDLORD:
THE PARKING AUTHORITY OF THE
CITY OF BEVERLY HILLS
By:
Nancy Hunt-Coffey,
Executive Director
TENANT:
IMAGINE IT FORWARD LLC,
a California limited liability company
By:
Bita Rad,
Manager
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B A-4-
B0785-0001\3216581v2.doc
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On before me, ________________________________________ Notary Public, personally appeared ________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B A-5-
B0785-0001\3216581v2.doc
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On before me, ________________________________________ Notary Public, personally appeared ________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
Docusign Envelope ID: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B Certificate Of Completion
Envelope Id: 1CAEBE57-D5EC-48A1-B024-8243DCB6A27B Status: Sent Subject: Complete with Docusign: Imagine It Forward LLC - Lease Termination Agreement (Updated).pdf Source Envelope:
Document Pages: 10 Signatures: 2 Envelope Originator:
Certificate Pages: 3 Initials: 1 Jonathan Gernes
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)
455 N. Rexford Drive
Beverly Hills, CA 90210
[email protected]
IP Address: 198.245.189.166
Record Tracking
Status: Original
2/18/2026 10:22:32 AM
Holder: Jonathan Gernes
[email protected]
Location: DocuSign
Signer Events Signature Timestamp
Bita Rad
[email protected]
Security Level: Email, Account Authentication
(None)
Signature Adoption: Drawn on Device
Using IP Address:
2607:fb90:e608:4442:3cf7:a8b8:9452:3787
Signed using mobile
Sent: 2/18/2026 10:28:19 AM
Resent: 3/6/2026 4:21:09 PM
Resent: 3/16/2026 9:07:30 AM
Resent: 3/18/2026 3:26:28 PM
Resent: 3/18/2026 4:56:55 PM
Resent: 3/18/2026 5:10:20 PM
Viewed: 3/18/2026 5:11:35 PM
Signed: 3/18/2026 5:12:39 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Andrew Bragin for
[email protected]
Security Level: Email, Account Authentication
(None)
Signature Adoption: Pre-selected Style
Using IP Address: 208.87.235.180
Sent: 3/18/2026 5:12:41 PM
Viewed: 3/18/2026 5:14:22 PM
Signed: 3/18/2026 5:14:40 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 3/18/2026 5:14:43 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Nancy Hunt-Coffey
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Sharona R. Nazarian, PsyD
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Signer Events Signature Timestamp
Huma Ahmed
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 2/18/2026 10:28:19 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Sam Rad
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 3/18/2026 11:02:26 AM
Viewed: 3/18/2026 4:47:58 PM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Denise Garcia
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Keith Sterling
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Megan Grilley
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 2/18/2026 10:28:19 AM
Envelope Summary Events Status Timestamps
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Envelope Updated Security Checked 3/18/2026 5:10:19 PM
Payment Events Status Timestamps