THIRD AMENDMENT TO STANDARD INDUSTRIAL/COMMERCIAL SINGLE-
TENANT LEASE
(4049 Burgess Way)
This Third Amendment to Standard Industrial/Commercial Single-Tenant Lease ("Third Amendment") is made and entered into this _ day of _ 2026, by and between STEPHEN CAMPBELL AND LISA CAMPBELL, trustees of the Stephen & Lisa Campbell Family Trust ("Lessor"), and CITY OF RIVERSIDE, a California charter city and municipal corporation ("Lessee") with respect to the following facts:
RECITALS
A. On May 30, 2018, the Lessor and Lessee entered into a Standard Industrial/Commercial Single-Tenant Lease ("Lease") for approximately three thousand one hundred seventy-six (3,176) square feet of industrial space located at 4049 Burgess Way in the City of Riverside.
B. On June 25, 2019, the Lessor and Lessee entered into a First Amendment to Standard Industrial/Commercial Single-Tenant Lease extending the term to October 15, 2022, with two one-year options to extend, and setting the rent for both the extended term and the optional terms.
C. On October 11, 2022, following approval by the Riverside City Council, the Lessor and Lessee entered into a Second Amendment to Standard Industrial/Commercial Single- Tenant Lease extending the term by an additional four (4) years, expiring October 15, 2026, with no options to extend, and setting the rent for the Second Extension Term.
D. The Parties now desire to amend the Lease to extend the term through October 31, 2029, with two (2) options to extend the term for an additional three (3) years each, the rent for each such option term to be set at the fair market rental value as provided herein, and to set the rental amounts for the Third Extension Term.
NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated herein by this reference, Lessor and Lessee agree as follows:
1. Section 1.3, Term, is hereby amended as follows:
A. Original Term: The Original Term shall be One (1) year and Four (4) months, commencing June 15, 2018 ("Commencement Date") and ending October 15, 2019.
B. Extension Term: The Original Term was extended for Three (3) years and zero (0) months ("Extension Term"), commencing on October 16, 2019 and ending October 15, 2022.
C. Second Extension Term: The term was additionally extended for Four (4) years and zero (0) months ("Second Extension Term"), commencing on October 16, 2022 and ending October 15, 2026.
1 D. Third Extension Term: The term shall be additionally extended for Three (3) years and fifteen (15) days ("Third Extension Term"), commencing on October 16, 2026, and ending October 31, 2029. The period from October 16, 2026, through October 31, 2026 shall be a transitional period ("Transition Period") intended to align the term and all rent
adjustments with the first (1st) day of a calendar month, after which each Lease year of the Third Extension Term shall commence on November 1.
E. First Option Term: Lessee shall have the option to extend the term for an additional Three (3) years and zero (0) months ("First Option Term"), commencing on November 1, 2029 and ending October 31, 2032, subject to the terms of Section 1.6 below.
F. Second Option Term: Provided the First Option Term has been validly exercised, Lessee shall have the option to extend the term for an additional Three (3) years and zero (0) months ("Second Option Term"), commencing on November 1, 2032, and ending October 31, 2035 ("Expiration Date"), subject to the terms of Section 1.6 below.
2. Section 1.5, Base Rent, is hereby amended as follows:
Base Rent is as follows:
Original Term:
June 15, 2018 - July 31, 2018, $4,049.40 total
August 1, 2018 - June 14, 2019, $2,699.60/month
June 15, 2019 - October 15, 2019, $2,780.59/month
Extension Term:
Year 1 $2,864.01/month
Year 2 $2,949.33/month
Year 3$3,038.43/month
Second Extension Term:
Year 4$3,129.58/month
Year 5 $3,223.47/month
Year 6$3,352.41/month
Year 7$3,486.51/month
Third Extension Term:
October 16, 2026 - October 31, 2026, $3,486.51/month
2 November 1, 2026 - October 31, 2027, $3,591.11/month
November 1, 2027 - October 31, 2028, $3,698.84/month
November 1, 2028 - October 31, 2029, $3,809.81/month
First Option Term and Second Option Term:
The Base Rent for each year of the First Option Term and the Second Option Term shall be determined in accordance with Section 1.6 below, with the first (1st) year of each Option Term set at fair market rental value and the second (2nd) and third (3rd) years increasing by three percent (3%) annually.
Base Rent shall be payable on the First (Ist) day of each month, commencing August 1, 2018. Commencing November 1, 2026, each annual increase in Base Rent shall take effect on November 1 as set forth above, and no proration of Base Rent shall be required at any time during the Third Extension Term or any Option Term.
3. A new Section 1.6, Options to Extend, is hereby added to the Lease as follows:
A. Grant of Options. Lessee is granted two (2) consecutive options to extend the term of the Lease, each for a period of three (3) years (each, an "Option Term"), as described in Section 1.3 above. The Second Option Term may be exercised only if the First Option Term has been validly exercised.
B. Exercise of Options. Each option shall be exercised, if at all, by Lessee delivering written notice to Lessor not less than one hundred eighty (180) days prior to the expiration of the then-current term. Lessee's right to exercise each option is conditioned upon Lessee not being in material de fault under the Lease beyond any applicable cure period at the time of exercise.
C. Option Kent. The Base Kent tor each Option Term shall be equal to the tair market rental value of the Premises as of the commencement of the applicable Option Term, determined as set forth below. The Base Rent for each Option Term shall not be a fixed or predetermined amount. The fair market rental value so determined shall establish the Base Rent for the first (1st) year of the applicable Option Term, and Base Rent for the second (2nd) and third (3rd) years of that Option Term shall be adjusted as set forth in subsection E below.
Determination of Fair Market Rental Value. Fair market rental value shall mean the rental rate that a willing tenant would pay and a willing landlord would accept for comparable industrial space in the City of Riverside and surrounding submarket, taking into account the size, location, condition, and use of the Premises, the length of the term, and other then-prevailing market terms for comparable space. Upon Lessee's exercise of an option, the Parties shall negotiate in good faith to agree upon the fair market rental value.
If the Parties are unable to agree within thirty (30) days following the date of exercise, the fair market rental value shall be determined by an independent MAI-designated appraiser 3 or a licensed commercial real estate broker with at least ten (10) years of experience in the applicable submarket, mutually selected by the Parties, whose determination of fair market rental value shall be binding, and the Base Rent for the applicable Option Term shall equal the amount so determined. The cost of such appraiser or broker shall be shared equally by the Parties.
E. Annual Adjustments During Option Terms. Base Rent for the first (1st) year of each Option Term shall be the fair market rental value determined pursuant to subsections C and D above. Base Rent shall thereafter increase by three percent (3%) on the first (1st) and second (2nd) anniversaries of the commencement of that Option Term, so that Base Rent for the second (2nd) year equals one hundred three percent (103%) of the first (1st) year Base Rent, and Base Rent for the third (3rd) year equals one hundred three percent (103%) of the second (2nd) year Base Rent. Each such increase shall take effect on November 1, and no proration of Base Rent shall be required. The fair market rental value determined at the commencement of the Second Option Term shall be determined independently and without reference to the Base Rent payable during the First Option Term.
4. All other terms and conditions of the Lease between the Parties, which are not inconsistent with the terms of this Third Amendment, shall remain in full force and effect as if fully set forth herein.
5. Digital and Counterpart Signatures. Each party to this Agreement intends and agrees to the use of digital signatures that meet the requirements of the California Uniform Electronic Transactions Act (Civil Code §§ 1633.1, et seq.), California Government Code § 16.5, and California Code of Regulations Title 2 Division 7 Chapter 10, to execute this Agreement. The parties further agree that the digital signatures of the parties included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual signatures for purposes of validity, enforceability, and admissibility. For purposes of this section, a "digital signature" is defined in subdivision (d) of Section 16.5 of the Government Code and is a type of "electronic signature" as defined in subdivision (h) of Section 1633.2 of the Civil Code. This Agreement may be executed in any number of counterparts, each of which will be an original, but all of which together will constitute one instrument. Each certified or authenticated electronic copy of an encrypted digital signature shall be deemed a duplicate original, constituting one and the same instrument and shall be binding on the parties hereto. (Signatures on Following Page)
4 IN WITNESS WHEREOF, Lessor and Lessee have caused this Third Amendment to Standard Industrial/Commercial Single-Tenant Lease to be duly executed on the day and year first above written.
LESSEE: LESSOR:
CITY OF RIVERSIDE, a California THE STEPHEN & LISA CAMPBELL charter city and municipal corporation FAMILY TRUST
By: By: 7722i (Sep 30, 2026 20:44:08 PDT)
City Manager Stephen Campbell, Trustee
By: Life LOot 1, 2026 21:02:00 PDT)
Lisa Campbell, Trustee
Attest:
By:
City Clerk
APPROVED AS TO FORM:
Ruthann Salera
By:
Assistant City Attorney
OFFICIAL CERTIFICATION OF TRUST
PURSUANT TO PROBATE CODE 18100.5
NOTICE TO PERSON OR ORGANIZATION TO WHOM THIS CERTIFICATION IS PRESENTED THIS FORM IS AN OFFICIAL FORM AUTHORIZED AND PROTECTED BY STATE LAW.
FAILURE TO ACCEPT THIS FORM CAN RESULT IN PENALTIES AND DAMAGES.
YOU MAY RELY ON THIS FORM WITHOUT FURTHER PROOF OF AUTHORITY.
Probate Code Sec. 18100.5 provides:
Any person making a demand for "documents in addition to a certification of trust to prove facts set forth in the certification of trust.. shall be liable for damages, including attorney's fees, incurred as a result of the refusal to accept the certification of trust in lieu of the requested documents...". (emphasis added)
Probate Code Sec. 18100 provides that:
You are not bound to inquire whether the trustee has power to act or is properly exercising a power and may assume without inquiry the existence of a trust power and its proper exercise" pursuant to this certificate and that you are "fully protected in dealing with or assisting the trustee just as if the trustee has and is property exercising the power the trustee purports to exercise" pursuant to this certificate.
INSTRUCTIONS TO PERSON OR ORGANIZATION TO WHOM THIS CERTIFICATION IS PRESENTED
1. Check to make sure this form has been signed and notarized
2. Make a copy of this form for your records.
3. Complete your organization's/institution's forms from the information listed below.
4. Follow the directions of the trustee regarding any matters regarding the trust and any accounts, assets, or property in the name of the trust THE UNDERSIGNED HEREBY CERTIFY/AS FOLLOWS:
Trust Information
This trust was established and is currently in existence as follows:
Name of Trust (title of trust document); Family Trust of Stephen Allen Campbell and Lisa Jeanne Campbell Date of Current Controlling Trust Document DEC 14 2006
(date of execution):
Type of Trust: Revocable Living Trust
Name of Trustor(s) (Settlor(s), Grantor(s), Stephen Allen Campbell and Lisa Jeanne Campbell Donor(s), Creator(S), Maker(s)):
Currently Acting Trustee(s): Stephen Allen Campbell and Lisa Jeanne Campbell Name of Parties signing trust: Above Trustors/Trustees
Successor Trustee s): First: Lindsay Dawn Campbell and Taylor Danielle Campbell Taxpayer Identification Number: 556-82-5759 558-74-0363 (Trustors Social Security number(s))
Name In which title to assets transterred to trust Name of Trust as indicated above should be taken:
Malling address of trust: Trustor/Trustee's address
Signature Authority of Current Trustee(s): Any one trustee(s) (Number of trustee signatures needed to
authorize/conduct business on behalf of trust)
Full Force and Effect
Said trust is in full force and effect and has not been revoked, modified or amended in any manner which would cause the representations contained in this certification to be incorrect.
Current Trustee(s)
The names of all the currently acting Trustee(s) of the trust are as indicated above. Said trustee(s) have full authority, power and ability to conduct all business on behalf of the trust and otherwise act on behalf of the trust and buy, sell, transfer, and manage all money, accounts, assets, and property of the trust and sign all documents and papers for and on behalf of the trust including but not limited to signing all checks, signature cards, withdrawal documents and other banking and financial documents for and on behalf of the trust. The number of current trustee signatures necessary to conduct the business of the trust is as indicated above.
Trustees may hold title in one trustees name alone for convenience sake.
Powers of Trustee(s)
Trustor has given the Trustee(s) of said Trust the powers listed below in addition to those on any attached pages:
To open, establish, and maintain interest and non-interest bearing accounts, deposit and safe deposit boxes of all kinds and in amounts greater than covered by FDIC insurance. Make, sign, authorize, and deliver checks, drafts, orders, withdrawals and transfers of all kinds.
Borrow, assign, pledge, guarantee, grant security, for any person, debt, or obligation and enter into all other credit transactions.
To appoint attorneys-in-fact and agents to take any and all actions on behalf of the trust.
Authorize and enter into overdraft lines of credit, credit/debit card, ATM, cash management, and all other account and financial services.
Purchase, acquire, sell, transfer, trade and otherwise deal in stocks, bonds, indentures, options, warrants/rights and all other investments & securities.
All powers referred to herein are those currently in effect and there has been no subsequent change or modification therefrom that would cause the representations contained in this certification to be incorrect.
Successor Trustee(s) Act
The successor trustees may act upon presentation of any of the following: 1) Letter of resignation of the previous trustees, 2) Certified copy of the death certificate of the previous trustee(s), 3) New Certification of Trust showing them as trustees.
Trustee(s) Signing
The undersigned are the current Trustee(s) of the above named trust.
SEE EXECUTION AND ACKNOWLEDGMENT ON NEXT PAGE
EXECUTION AND ACKNOWLEDGMENT
CERTIFICATION OF TRUST
THE UNDERSIGNED DECLARE AND CERTIFY UNDER PENALTY OF PERJURY UNDER THE LAWS OF CALIFORNIA AND ANY OTHER STATE THAT
ALL OF THE INFORMATION, STATEMENTS AND RERRESENTATIONS CONTAINED IN THIS DOCUMENT ARE TRUE AND CORRECT AND IF CALLED
TO TESTIFY THERETO COULD AND WOULD SO COMPETENTLY TESTIFY THERETO AND THAT THIS DOCUMENT WAS EXECUTED AT THE PLACE
AND DATE INDICATED IN THE NOTARY ACKNOWLEDGMENT
Trustef Signature
Lisa Camell
CERTIFICATE OF ACKNOWLEDGMENT OF NOTARY PUBLIC
State of California, County of: Riverside) SS
On DEC 1 4 2006 before me, the undersigned, a Notary Public in and for said State, personally appeared:
Stephen Allen Campbell and Lisa Jeanne Campbell
personally known to me (or 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 behall of which the person(s) acted, executed the instrument. SEAL:
WITNESS my hand anch official seal. RYAN DARLING
NOTARY PUREE A D COMM. #1446361
AT PUS- CALIFORNIA
RIVERSIDE COUNTY
Signature:
Email: [email protected]