SECOND AMENDMENT TO RIVERSIDE MUNICIPAL AIRPORT LEASE
Terminal Building Café Lease
LEIMAMO TAYLOR doing business as RIVERSIDE AIRPORT CAFE
THIS SECOND AMENDMENT TO RIVERSIDE MUNICIPAL AIRPORT LEASE (First Amendment) is dated and entered into as of the _day of 2023 ("Effective Date"), by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation ("City" or "Lessor"), and LEIMAMO TAYLOR doing business as RIVERSIDE AIRPORT CAFE ("Lessee"), with reference to the following facts.
RECITALS
A. Lessor and Lessee entered into that certain Riverside Municipal Airport Lease dated as of July 1, 2021 ("Lease").
B. On February 16, 2022, the parties entered into the First Amendment to Riverside Municipal Airport Lease to increase the square footage of the Premises.
C. Lessor and Lessee desire to amend the Lease to clarify section 9(d) Percentage Monthly Rental.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Lessor and Lessee agree as follows:
RENT. Section 9, subparagraph (d) is replaced in its entirety with the following:
Percentage Monthly Rental. Beginning on February 1, 2023, Lessee shall pay to City an amount equal to six and three quarters percent (6.75%) of the sum total net sales ("Percentage Rental"). Sum total net sales shall be calculated as the Lessee monthly total net sales minus the minimum monthly rental paid pursuant to section 9(a). Total net sales shall include the total sales of all food, beverages, gifts and miscellaneous items which occurred during the calendar month or any portion thereof two months prior to the date for payment. The date for payment of the Percentage Rental shall be the first (1st) day of the month.
Sample calculation: $100,000 in January total net sales minus $3,000 minimum monthly rental paid equals $97,000 in sum total net sales. Percentage monthly rental equals $97,000 in sum total net sales times 6.75% = $6,547.50 due as Percentage Rental on March 1.
1 All terms and conditions of the Lease and any prior amendments not inconsistent with this Second Amendment, shall remain in full force and effect and are incorporated herein by this reference as if set forth in full.
(Signatures on following page)
2 IN WITNESS WHEREOF, Lessor and Lessee have executed this Second Amendment as of the date set forth above.
"Lessor": "Lessee":
CITY OF RIVERSIDE, a California LEIMAMO TAYLOR, doing business as, charter city and municipal corporation RIVERSIDE AIRPORT CAFE By:_
By: Name: Leimanno Taylor
City Manager Owner
Attested to: By:_
Name:
Its:
By:
Donesia Gause
City Clerk
Ruthann M. Salera
Deputy City Attorney
CERTIFIED AS TO FUNDS AVAILABILITY:
ASSISTANT CHIEF FINANCIAL OFFICER
CA 21-0016.2
3/2/2023 RMS