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04
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2020
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102020
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3/12/2021 1:29:20 PM
Creation date
10/14/2020 10:28:07 AM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
10/20/2020
DESTRUCT DATE
15Y
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ATTACHMENT 2 <br /> FIRST AMENDMENT TO <br /> USE AGREEMENT <br /> THIS FIRST AMENDMENT TO USE AGREEMENT,made this day of <br /> , 2020,by and between the CITY OF PLEASANTON,a municipal corporation <br /> of the State of California(referred to as City), and the PLEASANTON DOWNTOWN <br /> ASSOCIATION (referred to as PDA). <br /> RECITALS <br /> A. PDA is a nonprofit organization organized to provide services to promote <br /> and support Downtown Pleasanton. <br /> B. On November 6, 2018, City and PDA entered into a Use Agreement to <br /> provide use of the City owned building at 333 Division Street to PDA ("Use <br /> Agreement"). <br /> C. City and PDA wish to amend the Use Agreement to provide for deferral <br /> of rent for one year. <br /> IN CONSIDERATION of mutual covenants contained herein,the parties agree as follows: <br /> 1. Section 3 of the Use Agreement(Lease) is amended to read as follows: <br /> PDA covenants and agrees to pay City as rent each month the sum of$974.00, <br /> which is $1.00 per square foot of rentable building area,beginning with the fourth <br /> month of occupancy on March 1, 2019. In 2020, and each calendar year <br /> thereafter, the monthly rate will be adjusted by the annual Consumer Price Index <br /> for the preceding year. If the annual Consumer Price Index does not increase, the <br /> monthly rate will remain in effect. <br /> Payment of rent under this section shall be deferred from November 1, 2020 to <br /> October 31, 2021. The total amount of deferred rent shall be $11,952. This <br /> deferred rent shall be repaid over a 36-month period without interest beginning on <br /> November 1, 2021 as reflected in the loan schedule attached as Attachment A. <br /> Rent during this 36-month period shall be $1,328 per month. For calendar year <br /> 2021 only, the monthly rate will not be adjusted by the annual Consumer Price <br /> Index for the preceding year. <br /> 2. The attached loan schedule is attached to the Use Agreement as Attachment A. <br /> 3. Other than amended above, the Use Agreement remains in full force and effect. <br /> THIS AGREEMENT is executed as of the date first written above. <br />
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