RES 94045A - Laserfiche WebLink

SITE LEASE THIS Site Lease, dated as of May 1, 1994, by and between the CITY OF PLEASANTON, a body corporate and politic duly organized and existing under the laws of the State of California (the "City"), as lessor, and the PLEASANTON JOINT POWERS FINANCING AUTHORITY, ajoint powers authority duly organized and existing under the laws of the State of California (the "Authority'), as lessee; WITNESSETH: WHEREAS, the Authority intends to assist the City with respect to the refinancing of certain real property improvements (the "Project"), by leasing the Project (defined below) to the City pursuant to a lease agreement, dated as of May 1, 1994 ([he "Lease Agreement"), and the City proposes to enter into this Site Lease with the Authority as a material consideration for the Authority's agreement to lease the Project to the City; NOW, THEREFORE, IT IS HEREBY MUTUALLY AGREED, as follows: SECTION L Site Lease. The City hereby leases to the Authority and the Authority hereby hires from the City, on the terms and conditions hereinafter set forth, the real property describedin Exhibit A attached hereto and made a part hereof, and any and all improvements located thereon (collectively, the real property and the improvements thereon shall be refereed to herein as the "Site"). SECTION 2. Term. The term of this Site Lease shall commence on the date of recordation of this Site Lease in the Office of the County Recorder of the County of , State of California, and shall end 1, ~ unless such term is extended or sooner terminated as hereinafter provided. If on the date of the termination of the Lease Agreement, the aggregate amount of Lease Payments payable under the Lease Agreement shall not have been paid, or provision shall not have been made for their payment, then the teen of this Site Lease shall be extended until such Lease Payments shall be fully paid or provision made for such payment, to the extent permitted by law. SECTION 3. Rental. The City aclrnowledges receipt from the Authority as and for rental hereunder the sum of Dollars ($_~ and other good and valuable consideration, on or before the date of delivery of this Site Lease, as payment in full for rental of the Site. SECTION 4. Purpose. The Authority shall use [he Si[e solely for the purpose of leasing the Site to the City pursuant to the Lease Agreement and for such purposes as maybe incidental thereto; provided, that in the event of default by the City tinder the Lease Agreement, the Authority and its assigns may exercise the remedies provided in the Lease Agreement. samxooa.tn~