EIGHTH AMENDMENT TO LEASE AGREEMENT
THIS EIGHTH AMENDMENT TO LEASE AGREEMENT ("Eighth Amendment") is made and entered into as of February 1, 2022 (the "Effective Date"), by and between the City of Redondo Beach, a chartered municipal corporation ("Lessor"), and Zislis Boutique Hotels, LLC, a California limited liability company ("Lessee").
RECITALS
A. Lessor and Lessee have entered into a Lease Agreement (the "Lease Agreement") dated October 6, 2009 related to premises at 655 N. Harbor Drive, Redondo Beach, California (the "Premises"); and
B. The Lease Agreement has been amended by (I) a First Amendment to Lease Agreement dated March 15, 2011 ("First Amendment"); (2) a Second Amendment to Lease Agreement dated November 6, 2012 ("Second Amendment"); (3) a Third Amendment to Lease Agreement dated May 28, 2013 ("Third Amendment"); (4) a Fourth Amendment to Lease Agreement dated December 17, 2013 ("Fourth Amendment"); (5) a Fifth Amendment to Lease Agreement dated April 22, 2014 ("Fifth Amendment"); (6) a Sixth Amendment to Lease Agreement dated December 16, 2014 ("Sixth Amendment"); and (7) a Seventh Amendment to Lease Agreement dated February 6, 2018 ("Seventh Amendment"); and
C. As part of the Fourth Amendment to the Lease, Lessor, Lessee, and Sublessees entered into a License Agreement that is attached to the Lease as Exhibit F; and D. The License Agreement identifies a "Parking Parcel" as described in Exhibit A to the License Agreement; and
NOW, THEREFORE, the Lease and the License Agreement is hereby amended as follows:
1. Parking Parcel. Exhibit A to the License Agreement (Exhibit F) is hereby replaced in its entirety by Exhibit A attached to this Eighth Amendment.
2. Section 2.7. Section 2.7 is hereby added to the Lease as follows:
a. Improvements to Parking Parcel: Lessor agrees that it will construct or cause to be constructed the Additional Improvements depicted and set forth on Exhibit B attached to this 8th Amendment. Construction of the Improvements will be initiated within 180 day:
of the date of this 8th Amendment
3. No Further Changes to Lease Agreement. Except as expressly provided herein, nothing in this Eighth Amendment shall be deemed to waive or modify any of the provisions of the Lease Agreement. In the event of any conflict between this Eighth Amendment and the Lease Agreement, as amended by the previous amendments, the terms of this Eight Amendment shall prevail. Unless otherwise expressly provided in this Eighth Amendment, capitalized terms used in this Eighth Amendment shall have the same meanings as in the Lease Agreement.
IN WITNESS WHEREOF, the parties have executed this Eighth Amendment as of the date first set forth above.
LESSOR: LESSEE:
CITY OR REDONDO BEACH, a chartered city ZISLIS BOUTIQUE HOTELS, LLO and municipal corporation a California limited liability company By: William C. Brand
Its: Mayor By: Michael A. Zislis
Its: Manger
ATTEST:
By: Eleanor Manzano
Its: City Clerk
APPROVED AS TO FORM: APPROVED BY SUBTENANTS (AND THE
SUBTENANTS AGREE THAT THE
"LEASE" AS REFERRED TO IN THE
LICENSE AGREEMENT SHALL MEAN
SUCH LEASE AS AMENDED BY THIS
By: Michael W. Webb EIGHTH AMENDMENT):
Its: City Attorney
REDONDO BEACH HOSPITALITY
COMPANY, LLC, a California limited liability
company
By: Michael A. Zislis
Its: Manager
HARBOR DRIVE DEVELOPMENT
COMPANY, LLC, A California limited liability
company
By: Michael A. Zislis
Its: Manager
Exhibit A - Parking Parcel Zislis Boutique Hotels LLC Parking Parcel Exhibit B-Additional Improvements
nstall 8' fence with slats Install 4' fence
Install mechanical arm at entrance
with power (or solar power), com-
Install removable bollards
patible with Shade Hotel key cards
Slurry seal and re-stripe lot
Install 4' fence
Jackbilt Leasehold Area
Zislis Boutique Hotels LLC Leasehold Area