FOURTH AMENDMENT TO LEASE
This FOURTH AMENDMENT TO LEASE (“Fourth Amendment”) is made effective _______________, 2025 by and between BALCO PROPERTIES LTD., LLC, a California limited liability company (“Lessor”) and City of Fairfield (“Lessee”).
RECITALS
A. Lessor and Lessee are parties to that certain Lease made effective July 15, 2011, amended on November 13, 2011 (“First Amendment”), amended on August 26, 2015 (“Second Amendment”), and amended September 1, 2020 (“Third Amendment”), pursuant to which Lessor leases to Lessee approximately 8,328 square feet of space at 1891 Woolner Avenue Suite F. Fairfield, CA. 94533. Unless otherwise specified in this Fourth Amendment, capitalized terms used in this Fourth Amendment shall have the same meanings as given in the Lease.
B. The parties hereto desire to extend the Lease Term under the Lease for a period of (5) Five years, commencing on September 1 , 2025 and ending August 31, 2030 and to further amend and modify the Lease in certain respects as provided herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Lessor and Lessee agree as follows:
AGREEMENT
1. Lease Term: The term of the lease shall be extended for (5) five years, commencing September 1, 2025 and expiring August 31, 2030.
2. Base Rent: Lessee shall pay to Lessor as base rent for the Premises, on or before the first day of each month Four Thousand Nine Hundred and Ninety-Six Dollars and Eighty cents ($4,996.80). Rent will increase 3% annually.
Month 1-12 $4,996.80
Month 13-24 $5,146.70
Month 25-36 $5,301.11
Month 36-48 $5,460.14
Month 48-60 $5,623.94
3. Lease Remains in Effect: Except as specifically modified by this Fourth Amendment, the Lease shall remain in full force and effect.
Docusign Envelope ID: B7B38299-09F1-4499-8079-3DFC414B9221 May 29
4. Early Termination: Lessee may terminate this Lease at any time after Thirty (30) months upon ninety (90) calendar days written notice to Landlord if Tenant can demonstrate a loss of funding or other financial hardship that prevents Tenant from being able to meet its lease obligations. Should Tenant choose to terminate the Lease they shall pay a one-time termination fee in the amount of Five (5) months rent.
IN WITNESS WHEREOF, the undersigned have executed this Fourth Amendment to Lease effective as of the date first set forth above.
LESSOR: LESSEE:
BALCO PROPERTIES LTD., LLC City Of Fairfield, Ca.
a California limited liability company
By:____________________________ By:__________________________ Reed Westphal
Principal Its:
Date:___________________________ Date:_________________________ Docusign Envelope ID: B7B38299-09F1-4499-8079-3DFC414B9221 6/2/2025