Recording requested by
and when recorded return to:
CITY OF REDONDO BEACH
415 Diamond Street
Redondo Beach, CA 90277
Attn: City Clerk
No Recording Fee
Exempt pursuant to Government Code § 6103
First Amendment to Lease
City of Redondo Beach and Portofino Hotel Partners, LP.
This First Amendm~$.jse ("First Amendmenf') is made and entered into as of the S,.~ day of , 2014, by and between the City of Redondo Beach, a chartered unicipal corporation ("Lessor") and Portofino Hotel Partners, LP., a California Limited Partnership ("Lessee").
WHEREAS, Lessor and Lessee entered into a certain Lease dated as of April 1, 2006 (the "Lease"), for certain real property, including the improvements now located or in the future to be located thereon and the appurtenances related thereto, located in Los Angeles County, City of Redondo Beach, California as more particularly described on Exhibit "A" attached hereto and made a part hereof ("Real Property");
WHEREAS, the schedule displaying rates for "Percentage Rental" set forth on Exhibit "C" of the Lease is subject to renegotiation every five (5) years; and
WHEREAS, pursuant to the terms of Section 5.9 of the Lease, the parties have renegotiated the rates and desire to amend Exhibit "C" of the Lease, effective as of April 1, 2012.
NOW, THEREFORE, Lessor and Lessee hereby agree that the Lease shall be amended as follows:
1. Exhibit "C" to the Lease setting forth the rates for Percentage Rental is hereby amended as set forth in the attached Exhibit "C", effective as of April 1, C0&-022-1
2012, with a retroactive cash adjustment payment due as required under paragraph 5.9(c) the Lease.
2. Except as expressly provided herein, all terms and provisions of the Lease shall remain unchanged and shall continue in full force and effect. In the event of any inconsistency between this First Amendment and the Lease, this First Amendment shall prevail. This First Amendment may be modified or amended only by a subsequent writing executed by all of the parties.
3. The parties signing below warrant and represent that they are duly authorized to enter into and execute this First Amendment on behalf of their respective principals.
IN WITNESS WHEREOF, the undersigned have executed this First Amendment as of the date set forth above.
LESSOR:
EACH ATTEST:
City ~~~ Clerk " ..
APPROVED AS TO FORM:
LESSEE:
PORTOFINO HOTEL PARTNERS, LP.
a California Limited Partnership
By:
By:
Portofino GP LLC, A Delaware limited liability
company, its general partner
Name:
~//~ ~-r-a..~ R.. C fl L..£6"
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State of California
County of Los Angeles
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,..--l~:a.+'-~--'-"----' 20 tl, before me,
_ ___,.~:::;.,,.,.,.o,"'-'"-"~=----~----' a Notary Public, personally appeared, , who proved to me
on the basis of s tisfacto evidence to be the person~ whose name~) is/tJ(e subscribed to the within instrument and acknowledged to me that he/s)(e/t~y executed the same in his/~/t~ir authorized capacity(i~). and that by his/h~t~r signature~ on the instrument the personQ(}, or the entity upon behalf of which the person(~acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct
Signature
(seal)
State of GalOOmia @1t :/11 ~')/-<w
County of Les AA~ele;,f)i ~
}
} SS.
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o~ Ull!Ve d'I , 20ftbefore
me, Wv NA ([. ?Pt~ . , a Notary Public, personally
appeared, , {Jf}+£t'cl(' · . C'-o/e_e , 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(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
Signature
(seal)
Real
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Exhibif~t~'-'' .,.
,:~,~-~:~··· Propert*1~~~-!'li!,Pt•on ':·"'"··-·'·''
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Legal Description
Real prc)perty In the City of R~ondo Beach, County of Los Angeles, state of California, described ·. as follows:
That certain parcel of land In the dty of Redondo Beach, county of Los Angeles, state of • · califomla, more partladarly clescn'bed as foDows:
· · Beginning at a point on an Official Los Angeles County Sur11eyor's Transit Line which Dne Is . described in Les ,Angeles County Surveyor's Field Book 2100 Pages 21 arn;i 22 and which point is designated as S-12. a point on said Transit Une; thence North 20 degrees 45' 03" West 261.37 feet to a point on the said Transit Une; thence North n degrees~ 54• East 200.97 feet to a point, which point ls designated H-1, said H-1 also being South 65 degrees 43' 19" East ~.82 feet from the Intersection of the centerr111e of Hemosa Avenue and the centerline ofTenth Street, as said tnterseaion Is shewn on the map of Tract 1326, recorded In Book 18 PB9E! f:i'l d Maps, records of said ciluntv and as said Intersection Is shown In ~Angeles County Suryeyor's Field Book No. 1589 Page 134, In the office of the munty engineer of said county; thence South 24 · degrees 59' 36" ~ 516.87 feet; ttience South 21 degrees 24' 43• East 509.95 feet to a point . which point Is designated H-2; thence South 27 degrees 07' 16" East 615.37 feet to a point; which point Is designated H-3; thence South 65 degrees 54' 45" West 247.41 feet to a point, which polnt is designated H-s; thence South 16 degrees Jr so· East 956.Bl feet to a point, Which point Is designated H-10; thence South 73 degrees 21' 10" West 716.01 feet.to a point, which point is designated H-11; thence South 58 degrees 09' 30" West 61.0S feet to the true · point of beginning; thence South 31 degrees 44' 19" East 172.15 feet, to the beginning of a tangent curve ccncave Northeasterly and having a radius of 60 feet; thence Southeasterly, along said a.uve through a central angled 74 degrees 54' 31•, for an arc distance of78.44 feet; tflence tangent to said last mentioned a.irve, North 73 degrees 21' 10" East 117,50 feet; thence North 16 degrees 38' 50" West 276.60 feet; thence North 73 degrees 21° 10" East 196.69 feet; thence North 16 degrees 31t40" West 45.00 feet; thence South 73 degrees 21' 10" West 50.00 feet; thence North tp degrees 38' '40" West 910.87 feet; thence South 73 degrees 21' 20" West. 287.01 feet; thence South 16 degrees 38' "10. East SO.DO feet; thence South. 73 degrees 21' 20· West 127 .94 feet; thence South 32 degrees 44' SS" West 50.32 feet; South 57 degrees 15' 05" East 36.00 feet; thence South 32 degrees 44' SS" West 65.00 feet; thence South 57 degrees 15' 5" East "'IO.OO feet; thence South 32 degrees 44' 55" West 112.is feet to the beginning ot a tangent curve concave Easterly aFld having a radius of 60. 00 feet; thellc:e Sautheast:erfy along '•
. said OJrve through a central angle of 64 degrees 29' 14" for an arc cfista~ of 01.54 feet; thence ·· tangent to said last mentioned turve South 31 degrees 44' 19• East 730.15 feet to the true point of beglrinlng.
APN: 8940-262-<Xl7 and 7503--008-907
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C~MMONLY KNOWN AS 260 Portormo Wayt Red_ondo Beach, California 90277-2092 ...
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2 3
4 5
6 7
8 9
10 11
12 13
14 15
16 17
18 19
20 21
22 23
24 25
Boat slips
Storage Lockers
Exhibit "C"
Percentage Rental Rates
Boat Brokerage -% of gross commissions
Sale of new boats:
a. on 1
51 $400,000 per yr.
b. on 400,000 - 600,000 per yr.
c. on excess of $600,000 er r.
Sale of used boats
Retail sale of marine hardware, accessories, paint, part, tackle Vending machines
Marine insurance
Service afloat
Apartments
Hotel and motel rooms
Packaged liquor, beer & wine
Office space
Fuel, marine service station
Bait, tackle, ice, sundries & other supplies
Restaurant & bar
Retail sales of sportswear, clothing & souvenirs
Paid parking
Laundry valet
Guest Telephone
Slip late fees
Transportation for food from restaurant
Car rental commission
Sailing Lessons
Boat & Motor rental
a. w/out motor, dry stored
b. w motor, d stored
25.5%
15.0%
a. 1.0%
b. 1.25%
c. 1.5%
1.0%
8.0%
.9.0%
5.0%
50.0%
10.5%
7.5%
5.0%
10.0%
5.5%
5.5%
3.5%
5.0%
30.0%
50.0% of discount
allowed Lessee
0.1%
25.5%
3.5%
50.0%
7.5%
a. 20.0%
b. 12.5%
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