THIRD AMENDMENT TO COMMERCIAL MULTI-TENANT LEASE -
TRIPLE NET
Mission Square
This Third Amendment to Commercial Multi-Tenant Lease - Triple Net (Third Amendment"), is made and entered into this. day of. , 2023, by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation (Landlord"), and THE IG GROUP, LLC, a California limited liability company, operating as a Slater's 50/50 location ("Tenant"), with respect to the following facts:
RECITALS
A. On July 2, 2018, Landlord and Tenant entered into a Commercial Multi-Tenant Lease - Triple Net ("Lease") for certain space within the building located at 3750 University Avenue, Suite 125, Riverside, California, known as Mission Square.
B. On July 7, 2020, the Parties executed a First Amendment to Commercial Multi-Tenant Lease - Triple Net ("First Amendment"), whereby they adjusted the square footage, Rent Commencement Date, Due Diligence Period, and Tenant Improvement Allowance.
On January 13, 2023, the Parties executed a Second Amendment to Commercial Multi-Tenant Lease - Triple Net ("Second Amendment") to modify the Term and Rent Schedule, to allow for the payment of certain past due rent.
D. The Parties desire to amend the Lease to change the Expiration Date to December 31, 2035.
NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated herein by this reference, Landlord and Tenant agree as follows:
1. Section 2.1, Original Term, is hereby amended to change the Expiration Date to December 31, 2035.
All terms and conditions of the Lease that are not inconsistent with this Third Amendment shall remain in full force and effect and are incorporated herein by this reference as if set forth in full.
IN WITNESS WHEREOF, the Parties have caused this Third Amendment to be duly executed on the day and year first above written.
CITY OF RIVERSIDE, THE IG GROUP, LLC, a California
a California charter city and municipal limited liability company corporation
By: By: Ja Jana
City Manager
Title: Member
ATTESTED TO:
and
By:_
City Clerk By allento C Cia
Print Name: Alberto Garcia
Title: Member
CERTIFIED AS TO AVAILABILITY OF FUNDS:
By:_
Chief Financial Officer
APPROVED AS TO FORM:
Susan Walton
By:_
Assistant City Attorney
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18-0280.3 SDW 03/20/23
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