1 FIRST AMENDMENT TO LEASE BETWEEN THE
CITY OF REDONDO BEACH AND
BARLEY VIBES, LLC
This FIRST AMENDMENT TO LEASE (this "First Amendment") dated for reference purposes as of May 2, 2023 (the " Effective Date"), is made by and between CITY OF REDONDO BEACH ("Lessor") and BARLEY VIBES, LLC, a California corporation ("Lessee"). with regard to the following:
Recitals
A. Lessor and Lessee are parties to that certain Lease entered into and effective as of January 10, 2023 (the "Lease"). Unless otherwise expressly stated herein, any term defined in theLease and used in this Amendment shall have the same meaning herein as given in the Lease.
B. Lessor and Lessee further desire to amend the Lease to modify the Premises.
NOW, THEREFORE, for and in consideration of the mutual promises herein contained, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Lease Amendment
i. Premises: The retail/restaurant space located at 136 International Boardwalk, Redondo Beach, CA 90277 comprised of approximately 1,300 rentable square feet (as more particularly described in Exhibit A) is hereby amended substituting the following in its place:
“The retail/restaurant space located at 136 International Boardwalk, Redondo Beach, CA 90277 comprised of approximately 1,300 rentable square feet and 132 International Boardwalk, comprised of approximately 750 rentable square feet (as more particularly described in Exhibit A), total 2,050 rentable square feet.”
ii Expiration Date: January 9, 2028 is hereby amended substituting the following in its place:
“May 1, 2028”
iii Minimum Monthly Rent: $2,925.00 per month for the first year with a base rent of $2.25 per square foot. A three percent (3%) increase on the anniversary of the commencement date each year thereafter is hereby amended substituting the following in its place:
2 “For space number 136 International Boardwalk, rent shall be $2,925.00 per month for the first year with a base rent of $2.25 per square foot. A three percent (3%) increase on the anniversary of the commencement date each year thereafter.
For space number 132 International Boardwalk, rent shall be $2,062.50 per month for the first year with a base rent of $2.75 per square foot. A three percent (3%) increase on the anniversary of the commencement date each year thereafter. Total monthly rent for the first year is $4,987.50” iv. Security Deposit: $2,925 is hereby amended substituting the following in its place:
“$4,987.50”
v. Exhibit A of this Lease is hereby amended by deleting it in its entirety and replaced by Exhibit A attached to this First Amendment.
2. Effect of Amendment.
Except to the extent the Lease is amended and modified by this First Amendment, the remaining terms and conditions of the Lease shall remain unmodified and in full force and effect. In the event of conflict between the terms and conditions of this First Amendment and the terms and conditions of the Lease, the terms and conditions of this First Amendment shall prevail and control.
3. Counterparts; Facsimile or PDF Signatures.
This First Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which, taken together, shall constitute one and the same instrument. Electronic version counterparts (e.g., pdf’s) may be exchanged via email and this First Amendment shall be effective upon such exchange by the parties of the electronic versions.
[Signatures Appear on the Following Page}
3 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed and delivered as of the date set forth above.
LESSOR
CITY OR REDONDO BEACH, a chartered
city and municipal corporation
__________________________________
By: William C. Brand
Its: Mayor
LESSEE
BARLEY VIBES, LLC, a California
corporation
__________________________________
By:
Title:
ATTEST:
__________________________________
By: Eleanor Manzano
Its: City Clerk
APPROVED AS TO FORM:
__________________________________
By: Michael W. Webb
Its: City Attorney
APPROVED:
__________________________________
By: Diane Strickfaden
Its: Risk Manager
4 EXHIBIT A
Legal Description
The space located at 132 and 136 International
Boardwalk, Redondo Beach, California, consisting
of approximately 2,050 total square feet as more
particularly depicted on the attached floor and site
plan of the premises. The Premises is located on a
portion of the strip retail development, a
development of approximately 48,000 square feet,
situated north of the Redondo Beach Pier Parking
structure, a structure of approximately 520,000
square feet and over 1,000 parking spaces located
at the western terminus of Torrance Boulevard in
the city of Redondo Beach.
APN: 7505-002-932
5 132 and 136 International
Boardwalk
Redondo Beach, CA
90277
2,050 Square Feet
136 International Boardwalk, 1300 SQFT 132 International Boardwalk, 750 SQFT
6 Site Plan
(E