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RES 2024040
City of Pleasanton
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CITY CLERK
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2024
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RES 2024040
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6/18/2024 4:24:22 PM
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6/18/2024 4:22:47 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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<br />1 <br />4859-3312-3005v2 <br />GROUND LEASE <br />(Ridge View Commons) <br /> <br /> <br />This Ground Lease (the “Lease”) dated as of ___________, 2024, is entered into by and <br />between City of Pleasanton, a California municipal corporation (“Lessor”) and Ridge View <br />Commons II Associates, L.P., a California limited partnership (“Lessee”). <br />RECITALS <br />A. Lessor is the owner of the real property located at 5200 Case Avenue in the City <br />of Pleasanton, known as Alameda County Assessor’s Parcel No. 947-0008-010, and more <br />particularly described in Exhibit A attached hereto (the “Land”). <br /> <br />B. Lessor and Eden Housing, Inc., a California nonprofit public benefit corporation <br />(“Eden”), entered into that certain Ground Lease of the Land dated as of June 1, 1988 (the <br />“Original Ground Lease”), a short form of which was recorded in the Official Records of <br />Alameda County (“Official Records”) on June 9, 1988 as Instrument No. 88-138518. The <br />Original Ground Lease was amended by that certain Amendment to Ground Lease and Short <br />Form Ground Lease dated June 27, 1988, executed by City and Eden, and recorded in the <br />Official Records on June 30, 1988 as Instrument No. 88-157652. Pursuant to an Assignment of <br />Lease dated October 31, 1989, executed by and among City, Eden, and Ridge View Commons <br />Associates, a California limited partnership (“Ridge View”), and recorded in the Official <br />Records on November 14, 1989 as Instrument No. 89-308001, Eden assigned its rights under the <br />Original Ground Lease (as amended) to Ridge View. The Original Ground Lease as amended <br />and assigned is referred to herein as the “Prior Ground Lease”. During the term of the Prior <br />Ground Lease, Ridge View was the owner of the 200-unit multi-family residential project and <br />related improvements located on the Land (the “Project”). <br /> <br />C. Substantially concurrently with the execution and delivery of this Lease, Ridge <br />View will sell the Project to Lessee. <br />D. This Lease supersedes and replaces the Prior Ground Lease in its entirety. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, Lessor and Lessee hereby agree as follows: <br />ARTICLE 1. <br />DEFINITIONS <br />Section 1.1 Definitions. For the purposes of this Lease, the following terms shall have <br />the meanings set forth in this Article 1: <br />“Additional Rent” means all sums payable by Lessee to Lessor pursuant to this Lease <br />other than Rent, including without limitation, sums payable to reimburse Lessor for the <br />following, together with applicable interest and penalties thereon: (i) amounts paid by Lessor to <br />discharge liens and claims pursuant to Section 3.2, (ii) Impositions paid by Lessor pursuant to
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