HomeMy WebLinkAboutContracts & Agreements_215A-2021SECOND AMENDMENT TO MULTI -TENANT OFFICE LEASE — GROSS
This Second Amendment ("Second Amendment") to the Multi -Tenant Office Lease -Gross
("Lease"), dated May 23, 2012, is made and entered into this 6th day of December, 2021, by and
between the City of Redlands, a municipal corporation and a general law city ("City"), and Bosman
Wealth Management, LLC, a California limited liability company, successor in interest to RPM
Insurance Services, Inc , ("Lessee") City and Lessee are sometimes herein referred to individually
as a "Party" and collectively as the "Parties."
RECITALS
WHEREAS, on May 23, 2012, RPM Insurance Services, Inc , entered into a Multi -Tenant
Office Lease -Gross with Redlands Community Investment Corporation, a California Corporation
for the lease of approximately 1,225 square feet of space at 300 East State Street, Suite 438,
Redlands, California, and
WHEREAS, Bosman Wealth Management, LLC, a California limited liability company,
successor in interest to RPM Insurance Services, Inc , and Redlands Community Investment
Corporation amended that certain Multi -Tenant Office Lease -Gross with the First Amendment
dated December 12, 2016, 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 City and Lessee to amend the existing Lease, specifically
with regard to the Option to Renew Lease and Base Rent;
NOW, THEREFORE, for good and valuable consideration in the receipt of which is hereby
acknowledge City and Lessee agree as follows
AGREEMENT
Section 1 Paragraph 1.5 of the Lease, entitled "Term" is hereby deleted and replaced with
the following.
"1 5 Term. Five (5) years commencing on January 1, 2022, ("Commencement Date") and
ending on December 31, 2026 ("Renewal Term") "
Section 2 Paragraph 1 6 of the Lease, entitled "Base Rent" is hereby deleted and replaced
with the following
"1 6 Base Rent. The monthly Base Rent during the Renewal Term shall be Three Thousand
Three Hundred Sixty Nine Dollars ($3,369 00) per month payable on the lst of each month."
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Section 3 Paragraph 1 7 of the Lease, entitled "Base Rent Increase" is hereby deleted and
replaced with the following;
"1 7 Base Rent Increase On January 1, 2022, the month Base Rent payable under
paragraph 1 6 shall be adjusted as provided below.
Term
Base Rent/SF
Base Rent/Mo
January 1,
2022 to December
1,
2022
$2.75/SF
$3,369
00
January 1,
2023 to December
1,
2023
$2.83/SF
$3,470
00
January 1,
2024 to December
1,
2024
$2 92/SF
$3,574
00
January 1,
2025 to December
1,
2025
$3 00/SF
$3,681
00
January 1,
2026 to December
1,
2026
$3 10/SF
$3,792
00
Section 4 Paragraph 50 of the Lease, entitled "Base Rent" is hereby deleted in its entirety
Section 5 Options are not designated or implied and therefore are excluded in this
Amendment.
Section 6. No Broker Involvement. City and Lessee each represent and warrant to the other
that is has not employed any broker in connection with this Amendment.
Section 7. 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 8. Authority Lessee represents and warrants to City that each individual executing
this Amendment on behalf of Lessee is authorized to do so Lessee also represents and warrants to
City that neither Lessee nor the entities or individuals constituting, owning or controlling Lessee
or which may be owned or controlled by Lessee are among the individuals or entities identified on
any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected
terrorists
Section 9 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.
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IN WITNESS WHEREOF, the parties have executed this First Amendment, to be effective
as of January 1, 2022
CITY OF REDLANDS
Chris Boatman, Facilities and Community
Services Director
ATTEST
-rt-e
e Donaldson, City Clerk
BOSMAN WEALTH MANAGEMENT, LLC
By
Michael Bosman, President
//k/zati
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