HomeMy WebLinkAboutContracts & Agreements_208B-2021THIRD AMENDMENT TO LEASE AGREEMENT
This Third Amendment ("Third Amendment") to the Lease Agreement ("Lease"), dated
September 7, 2012, is made and entered into this 15th day of November, 2021 by and between the
City of Redlands, a municipal corporation and a general law city ("Landlord"), and Fidelity
National Title Company, a California corporation ("Tenant")
RECITALS
WHEREAS, on September 7, 2012, Fidelity National Title Company entered into a Lease
Agreement with Redlands Community Investment Corporation, a California Corporation for the
lease of approximately 1,012 rentable square feet of space at 300 East State Street, Suite 320,
Redlands, California, and
WHEREAS, Fidelity National Title Company and Redlands Community Investment
Corporation amended that certain Lease Agreement with the First Amendment dated December 1,
2015, and Second Amendment dated January 16, 2018, and
WHEREAS, on September 21, 2021, City of Redlands and Redlands Community
Investment Corporation entered into an Assignment and Assumption Agreement, wherein,
Redlands Community Investment Corporation assigned and transferred to City of Redlands all
right title and interest in, to and under the leases for 300 East State Street; and
WHEREAS, it is the desire of the Landlord and Tenant to amend the existing Lease,
specifically with regard to the Lease Term and Base Rent;
NOW, THEREFORE, for good and valuable consideration in the receipt of which is hereby
acknowledge Landlord and Tenant agree as follows.
AGREEMENT
Section 1. Extension of Term. The Term shall be extended for a period of six (6) months
commencing on December 1, 2021, and terminating May 21, 2022 ("Extension Term")
Section 2. Base Rent. The Base Rent during the Extension Term shall be as follows
Term
Base Rent/SF
Base Rent/Mo
December 1, 2021 — May 31, 2022
$2 65/SF
$2,681 80
OPTION June 1, 2022 —
November 30, 2022
$2 65/SF
$2,681,80
Section 3. Option. Provided Tenant is not in default or breach of the Lease beyond any
applicable cure period, Landlord shall grant Tenant one (1) option to renew the Lease for an
additional term of six (6) months ("Option Period") Tenant shall provide Landlord with no less
than ninety (90) days' prior written notice of Tenant's exercise of it option. The base rent during
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the Option Period shall be at the same rate as the current Extended Term as provided in Section 2
above.
Section 4 Confidentiality The Parties agree that the terms of this Amendment and any
non-public, confidential or propriety information or documentation provided to one Party by the
other Party in connection with this Agreement are confidential information, and the Parties agree
not to disclose such confidential information to any person or entity without the other Party's
express written consent.
Section 5. No Broker Commissions Due Landlord represents that is has not employed any
broker in connection with this Amendment. Tenant represents that is has engaged Orion Realty
Group brokerage firm and Kat Pettery as the broker in connection with is Amendment whom may
bring forward any claims for brokerage commission for the term(s) of this Amendment.
Notwithstanding the foregoing, each of the Parties hereto shall indemnify, defend and hold the
other harmless from and against any and all other claims for brokerage commissions, fees or other
compensation, and any loss, cost, damage or expense resulting therefrom (including reasonable
attorneys' fee), arising out of or resulting from any breach of the foregoing representations by such
indemnifying party The representations of the Parties set forth in this paragraph shall survive the
expiration or earlier termination of the Lease ,as amended hereby
Section 6. Integration of this Amendment and the Lease. This Amendment and the Lease
shall, for all purposes, be deemed to be one instrument. In the event of any conflict between the
terms and provisions of this Amendment and the terms and provisions of the Lease or other
amendments, the terms and provisions of this Amendment shall, in all instances, control and
prevail. Except as expressly defined herein, all words and phrases which are defined in the Lease
shall have the same meaning in this Amendment as are ascribed to said words and phrases in the
Lease.
Section 7. Authority; No Third -Party Consents. Each of Landlord and does hereby warrant
as to itself that is (i) is a duly authorized and existing entity, (ii) is qualified to do business in the
State in which the Premises are located, and (iii) has full right and authority to enter into this
Amendment.
Section 8 Effect of this Amendment. Except as expressly modified or amended by this
Amendment, the Lease and all terms, covenants and conditions contained therein shall remain
unchanged an in full force and effect.
Section 9 Counterparts. This Amendment may be executed by each of the Parties hereto
in separate counterparts which shall have the same force and effect as if all the Parties executed a
single document.
IN WITNESS WHEREOF, the parties have executed this First Amendment, to be effective
as of , 2021
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CITY OF REDLANDS, FIDELITY NATIONAL TITLE COMPANY,
a municipal corpojation a California corporati
By
Chris Boatman, Facilities &
Community Services Director
ATTEST
ne Donaldson, City Clerk
By
Todd A Nelson, Vice President
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