HomeMy WebLinkAboutContracts & Agreements_76-2023FIFTH AMENDMENT TO MULTI -TENANT OFFICE LEASE — GROSS
This Fifth Amendment ("Fifth Amendment") to the Multi -Tenant Office Lease -Gross
("Lease"), dated September 15, 2002, is made and entered into on this 2nd day of May 2023 by
and between the City of Redlands, a municipal corporation and a general law city ("Lessor"), and
UBS Financial Services Inc., ("Lessee"). City and Lessee are sometimes herein referred to
individually as a "Party" and collectively as the "Parties."
RECITALS
WHEREAS, on September 15, 2002, Lessee entered into a Multi -Tenant Office Lease -
Gross with Redlands Community Investment Corporation, a California Corporation for the lease
of approximately 3,595 square feet of space at 300 East State Street, Suite 400, Redlands,
California; and
WHEREAS, Lessee and Redlands Community Investment Corporation amended that
certain Lease Agreement with the First Addendum dated September 15, 2022, Second Addendum
dated May 20, 2010, Third Addendum dated January 23, 2015, and Fourth Addendum dated May
2, 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 Lessor and Lessee to amend the existing Lease,
specifically by extending the Lease Term for one month.;
NOW, THEREFORE, for good and valuable consideration in the receipt of which is hereby
acknowledge Lessor and Lessee agree as follows:
AGREEMENT
Section 1. Extended Lease Term: Without further notice required, the Lease is hereby
extended from June 1, 2023, through June 30, 2023 (the "Extended Lease Term").
Section 2. Base Rent: The monthly Base Rent for the period June 1, 2023, through June
30, 2023 is $8,092.41.
Section 3. Signs: Addendum II to Lease, Section Entitled "Signs" is hereby amended to
read as follows:
Lessor hereby revokes Lessee's right to one (1) "top -of -the -building" sign. Lessor shall, at
Lessor's sole cost and expense, remove and dispose of one (1) "top -of -the -building" sign. Upon
removal, Lessor, shall at Lessor's cost, make any repair to the building face necessary to return
the property to its original condition. Lessor shall destroy Lessee's signage within thirty (30)
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days of removal of sign and provide Lessee with certification that signage has been destroyed, as
per Exhibit A.
Section 4. Prior Negotiations. Landlord and Tenant agree that this Fifth Amendment is
the final agreement between the parties hereto with respect to the extension of the term of the
Lease beyond May 31, 2023, and takes the place of any prior understandings or agreements
between the parties with respect to the extension of the term of the Lease. Any prior
understandings or agreements with respect to the extension of the term of the Lease beyond May
31, 2023, whether entitled "Fifth Amendment" or otherwise, and whether executed by one or both
of the parties hereto, are deemed by the parties to be null and void and of no further effect.
Section 5. Integration of this Amendment and the Lease. This Fifth 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 6. Authority. Lessee represents and warrants to City that the individuals executing
this Fifth Amendment on behalf of Lessee are authorized to do so on behalf of Lessee.
Section 7. Counterparts/Facsimile. This Fifth Amendment may be executed in one or more
counterparts, each of which shall be an original, but all of which taken together shall constitute
one and the same document and shall be binding on the signatories. Each party hereto may rely
upon an electronic signature, a telecopy (fax) or pdf of a counterpart of this Fifth Amendment or
detached signature page therefrom that has been executed by any other party hereto, as if the same
were the executed original thereof, and the other parties shall be bound thereby.
Section 8. Effect of this Amendment. Except as expressly modified or amended by this
Fifth Amendment, the Lease and all terms, covenants and conditions contained therein shall remain
unchanged and in full force and effect.
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IN WITNESS WHEREOF, the parties have executed this Fifth Amendment, as of the date first
written above.
CITY OF REDLANDS
Chris Boatman, Assistant City Manager
ATTEST:
e Donaldson, City Clerk
UBS FINANCIAL SERVICES INC.
By:
Terr} nn Goul d, Managing Director
By:
Alexandra Se ! , Director
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EXHIBIT A
Certification of Signage Destruction
Landlord represents and warrants to Tenant that it has destroyed Tenant's "top -of -the -building"
sign on the day of , 2023.
CITY OF REDLANDS
Chris Boatman, Assistant City Manager
ATTLST:
Jeaonaldson, City Clerk
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