AGENDA REPORT
Meeting Date: May 5, 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 AMENDMENT NO. 1 OF LEASE BY AND BETWEEN
THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS AND
MUS2, LLC AT 430 NORTH CAMDEN DRIVE
Attachment: 1. Amendment No. 1 of Lease
RECOMMENDATION
Staff recommends the Parking Authority Board of Directors approve Amendment No. 1 of Lease by and between the Parking Authority of the City of Beverly Hills (the “Parking Authority” or “Landlord”) and MUS2, LLC (the “Tenant”) for the property located at 430 North Camden Drive.
INTRODUCTION
The proposed amendment would provide the Tenant a rent credit of $70,294.54 in consideration of work done by the Tenant that was required to be completed by the Landlord.
DISCUSSION
The Parking Authority entered into a lease agreement with MUS2, LLC on November 16, 2021. MUS2, LLC operates Marea, a full-service, high-end restaurant serving coastal Italian cuisine. The lease includes a Landlord scope of work that was required to be completed prior to the delivery of the leased premises to the Tenant for its initial improvements. As design plans were developed and the construction progressed, some elements of the Landlord scope of work were completed by the Tenant. After a meticulous review of construction plans, meeting notes, scopes of work, and extensive conversations between City staff and the Tenant representatives, the full scope of the Landlord work was deemed completed and a credit of $70,294.54 was due to MUS2,LLC for work completed by the Tenant on behalf of the Landlord.
Meeting Date: May 5, 2026
The proposed Amendment No. 1 of Lease provides the following key terms:
• Rent Credit: Tenant may credit $70,294.54 against future rent due; and • Release: Tenant releases Landlord of all claims it may have related to work required by the Landlord and completed by Tenant.
FISCAL IMPACT
The proposed lease amendment would provide the Tenant with a rental credit of $70,294.54. This amounts to slightly more than two months of rent expenses.
Ryan Gohlich,
Assistant City Manager
Approved By
Attachment 1
-1-
B0785-0001\3148262v1.doc
AMENDMENT NO. 1 OF LEASE
THIS AMENDMENT OF LEASE (this “Amendment”) is dated as of ________________ __, 2026, and is entered into by and between THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”), and MUS2, LLC, a New York limited liability company (“Tenant”).
R E C I T A L S
A. Landlord and Tenant entered into that certain Retail Lease dated November 16, 2021 (the “Lease”) for premises (the “Premises”) in the building at 430 North Camden in the City of Beverly Hills, County of Los Angeles, State of California.
B. Tenant and Landlord desire to amend the Lease (and Memorandum of Lease) as hereinafter set forth.
A G R E E M E N T
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. Completion of All Required Landlord Work. Tenant hereby acknowledges that all work that was to have been done by Landlord prior to the date hereof under or in connection with the Lease has been completed.
2. Credit Against Future Rent. In consideration of work done by Tenant, part of which related to the work required of Landlord, Tenant may credit $70,294.54 against sums next coming due from Tenant under the Lease.
3. Release. Tenant hereby releases Landlord from any and all claims, losses, liabilities, costs and expenses, which Tenant may have or may have incurred as a result of the work required of Landlord under the Lease prior to the date hereof, including without limitation any portion thereof completed by Tenant.
4. Conflict. In the event of a conflict or inconsistency between the terms and conditions of the Lease and the terms and conditions of this Amendment, the terms and conditions of this Amendment shall prevail and control.
5. Continuing Effect. Except as specifically modified hereby, the Lease shall remain unaffected and unchanged. The Lease is hereby ratified and affirmed by Landlord and Tenant and remains in full force and effect as modified hereby.
6. Counterparts. This Amendment 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: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -2-
B0785-0001\3148262v1.doc
7. Executive Director Authority. The Executive Director of Landlord shall have the authority to execute the Memorandum of Lease contemplated by this Amendment.
8. Memorandum of Lease. Upon its execution and delivery of this Amendment, Tenant shall concurrently execute and deliver a duly acknowledged counterpart of a Memorandum of Lease in the form attached hereto as Exhibit “A”.
9. DocuSign. The parties may use DocuSign to execute and deliver this Amendment, but Tenant must deliver an executed original of the Memorandum of Lease to Landlord, duly acknowledged, so that it can be executed and recorded by Landlord.
10. Default. A default by Tenant under this Amendment shall constitute a default by Tenant under the Lease.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above.
LANDLORD: THE PARKING AUTHORITY OF THE CITY OF BEVERLY
HILLS
By:
Craig A. Corman, Chairperson
ATTEST:
By:
Huma Ahmed, Secretary
APPROVED AS TO FORM:
By:
Laurence S. Wiener, General Counsel
APPROVED AS TO CONTENT:
By:
Nancy Hunt-Coffey, Executive Director
TENANT: MUS2, LLC, a New York limited liability company By:
Ahmass Fakahany, Chief Executive Officer
Docusign Envelope ID: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -A-1-
B0785-0001\3148262v1.doc
EXHIBIT “A”
FORM OF [MEMORANDUM OF LEASE]
(Attached.)
Docusign Envelope ID: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -A-2-
B0785-0001\3148262v1.doc
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
The Parking Authority of the City of Beverly
Hills
455 North Rexford Drive
Beverly Hills, California 90210
Attn: City Clerk
SPACE ABOVE THIS LINE FOR RECORDER’S USE
The undersigned declare that this [Memorandum of Lease] is exempt from Recording Fees pursuant to California Government Code Section 27383 and exempt from Documentary Transfer Tax pursuant to California Revenue and Taxation Code Section 11922.
MEMORANDUM OF LEASE
THIS MEMORANDUM OF LEASE (this “Memorandum”) is dated as of May 5, 2026, and is entered into by and between MUS2, LLC, a New York limited liability company (“Tenant”), and THE PARKING AUTHORITY OF THE CITY OF BEVERLY HILLS (“Landlord”).
RECITALS
A. Tenant and Landlord have entered into that certain Retail Lease dated November 16, 2021, and an Amendment of Lease dated substantially concurrently herewith (the “Lease”), pursuant to which Landlord has agreed to lease and demise to Tenant, and Tenant has agreed to lease and accept from Landlord, a portion (the “Premises”) of that certain building located in the City of Beverly Hills, County of Los Angeles, State of California, commonly known as 430 North Camden Drive. The Premises are more particularly described in the Lease.
B. Landlord and Tenant now desire to enter into this Memorandum to comply with applicable law requiring that municipal leases be recorded.
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. Lease. Landlord hereby leases and demises to Tenant, and Tenant hereby leases and accepts from Landlord, the “Premises” described in the Lease, at the rental rates and upon the other terms and conditions set forth in the Lease, which are incorporated herein by this reference.
2. Purpose. This Memorandum is prepared for the purposes of recordation only and in no way modifies the terms and conditions of the Lease. In the event any provision of this Memorandum is inconsistent with any term or condition of the Lease, the term or condition of the Lease shall prevail.
Docusign Envelope ID: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -A-3-
B0785-0001\3148262v1.doc
3. Counterparts. This Memorandum 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.
IN WITNESS WHEREOF, the parties hereto have executed this 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:
MUS2, LLC, a New York limited liability
company
By:
Ahmass Fakahany, Chief Executive Officer
Docusign Envelope ID: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -A-4-
B0785-0001\3148262v1.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: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 -A-5-
B0785-0001\3148262v1.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: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 Certificate Of Completion
Envelope Id: 25C51DF9-E00B-49BF-AFE2-0029BD45A349 Status: Sent Subject: Complete with Docusign: 250505 - MUS2 Amendment 1.docx Source Envelope:
Document Pages: 7 Signatures: 2 Envelope Originator:
Certificate Pages: 2 Initials: 0 Logan Phillippo
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: 76.168.103.71
Record Tracking
Status: Original
4/10/2026 7:17:08 AM
Holder: Logan Phillippo
[email protected]
Location: DocuSign
Signer Events Signature Timestamp
Ahmass Fakahany
[email protected]
CEO
Security Level: Email, Account Authentication
(None) Signature Adoption: Pre-selected Style
Using IP Address:
2600:4041:7972:8400:c527:d6cb:2c0d:6517
Signed using mobile
Sent: 4/10/2026 7:42:26 AM
Resent: 4/28/2026 10:52:22 AM
Viewed: 4/28/2026 5:07:24 PM
Signed: 4/28/2026 5:08:03 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: 38.99.206.170
Sent: 4/10/2026 7:42:27 AM
Viewed: 4/10/2026 12:07:16 PM
Signed: 4/13/2026 10:54:33 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 4/28/2026 5:08:05 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
Huma Ahmed
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Signer Events Signature Timestamp
Craig A. Corman
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
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In Person Signer Events Signature Timestamp
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Brian Lauck
[email protected]
General Counsel
Security Level: Email, Account Authentication
(None)
Sent: 4/10/2026 7:42:25 AM
Viewed: 4/10/2026 11:19:36 AM
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 4/10/2026 7:42:27 AM
Payment Events Status Timestamps